Profile: D.R. Horton Inc (DHI)
22 Jul 2014
D.R. Horton, Inc., incorporated on July 1, 1991, is the homebuilding companies in the United States. The Company constructs and sells homes through its operating divisions in 27 states and 78 metropolitan markets of the United States, primarily under the name of D.R. Horton, America’s Builder. During the fiscal year ended September 30, 2013 (fiscal 2013), the Company closed 24,155 homes. Through its financial services operations, the Company provides mortgages financing and title agency services to homebuyers in many of its homebuilding markets. DHI Mortgage, its 100% owned subsidiary, provides mortgage financing services primarily to the Company’s homebuilding customers and generally sells the mortgages it originates and the related servicing rights to third-party purchasers. In May 2014, the Company acquired homebuilding operations of Crown Communities.
The Company’s financial reporting segments consist of six homebuilding segments and a financial services segment. During fiscal 2013, The Company’s homebuilding operations are substantial part of its business, consists of approximately 97% of consolidated revenues. The Company’s homebuilding operations generate their revenues from the sale of completed homes, with a lesser amount from the sale of land and lots. In addition to building traditional single-family detached homes, the Company also builds attached homes, such as town homes, duplexes, triplexes and condominiums. The sale of detached homes generated approximately 91% of home sales revenues in during fiscal 2013. The Company’s financial services segment generates its revenues from originating and selling mortgages and collecting fees for title insurance agency and closing services.
The Company’s home designs are selected or prepared in each of its markets to appeal to the tastes and preferences of local homebuyers in each community. The Company’s construction work is performed by subcontractors. Construction time for its homes depends on the weather, availability of labor, materials and supplies, size of the home, and other factors. The Company completes the construction of a home within three to six months.
D.R. Horton Inc
Suite 500, 301 Commerce Street
FORT WORTH TX 76102