Edition:
United States

D.R. Horton says partial govt shutdown impact been minimal on co's business


Friday, 25 Jan 2019 11:40am EST 

Jan 25 (Reuters) - D.R. Horton Inc ::D.R. HORTON SAYS SEES Q2 GROSS MARGIN IN RANGE OF 19 PERCENT TO 19.5 PERCENT DUE TO LESS PRICING POWER AND HIGHER INCENTIVES ON Q1 SALES ACTIVITY AND IMPACT OF PURCHASE ACCOUNTING - CONF CALL.D.R. HORTON SAYS EXPECT FORESTAR TO BE CONSISTENTLY PROFITABLE WITH PRETAX PROFIT MARGINS OF APPROXIMATELY 10 PERCENT BY FISCAL 2020.D.R. HORTON SAYS EXPECTS THE NUMBER OF HOMES CLOSED IN Q2 IN THE RANGE OF 12,800 TO 13,300 HOMES.D.R. HORTON SAYS EXPECTS Q2 CONSOLIDATED REVENUES TO BE IN THE RANGE OF $3.9 BILLION TO $4.1 BILLION.D.R. HORTON SAYS PARTIAL GOVERNMENT SHUTDOWN IMPACT BEEN MINIMAL ON CO'S BUSINESS.D.R. HORTON SAYS REVENUES AND PROFIT MARGINS FOR FULL YEAR OF FISCAL 2019 TO BE DETERMINED PRIMARILY BY STRENGTH OF UPCOMING SPRING SEASON, SO CO ARE NOT PROVIDING FULL YEAR REVENUE OR MARGIN GUIDANCE AT THIS TIME.D.R. HORTON CEO SAYS "I FEEL LIKE THERE WAS MORE PRESSURE ON THE INCENTIVE SIDE, TRY TO GET THE PACE REESTABLISHED IN NOVEMBER THAN THERE WAS IN DECEMBER AND EVEN LESS ON THE JANUARY.".D.R. HORTON CEO SAYS "THE MARKET IS PERFORMING, I WOULD SAY, PRETTY MUCH AS WE EXPECTED, MAY BE A LITTLE BETTER, GIVEN THE FIRST QUARTER.".D.R. HORTON SAYS THE VERY EARLY SIGNS FOR SPRING ARE GOOD.D.R. HORTON CEO EXPECTS GETTING PEOPLE ON CONTRACT IS "GOING TO BE A LITTLE EASIER" THROUGH SPRING AS DEMAND COMES BACK.