Homebuilder D.R. Horton (DHI) upped its earnings forecast for the Sept. 2006-ending fiscal year after reporting a 61% rise in fourth-quarter net income to $564 million, or $1.77 a share with revenue up 45% to $5.1 billion on a 38% increase in homes closed. Analysts polled by Thomson First Call were expecting an EPS of $1.63 on revenue of $4.7 billion. The Fort Worth, Tex.-based company said fiscal year 2006 earnings now should be in a range of $5.22 to $5.32 a share on revenue of more than $15.5 billion, but kept its earnings forecast for the first quarter unchanged at between 90 cents and 95 cents a share. Analysts were looking for a first-quarter EPS of 99 cents and fiscal year EPS of $5.24.
The general consensus is that the real estate is bursting, but maybe we are just in the mid cycle of the housing boom…
It's not when you buy. It's when you sell!
