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DR Horton halves cash flow forecast due to hurricanes
September 25, 2017 / 11:06 AM / 2 months ago

DR Horton halves cash flow forecast due to hurricanes

Sept 25 (Reuters) - D.R. Horton Inc, the No.1 U.S. homebuilder, cut its forecast for 2017 cash flow from operations by half, citing delays in construction and deliveries due to recent hurricanes.

The homebuilder now expects to generate about $150 million of cash flow from operations compared with its previous forecast of about $300 million, the company said on Monday.

The company’s shares were down 3.7 percent at $35.52 in premarket trading. (Reporting by Arunima Banerjee in Bengaluru; Editing by Arun Koyyur)

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