LGIH: First home builder reports

DR Horton (DHI) reported today. It’s a much bigger and more slowly growing company than LGIH, but it certainly doesn’t look bad.

Fiscal 2016 First Quarter Highlights - as compared to the same period in the prior year

Net income increased 11% to $157.7 million, or $0.42 per diluted share

Pre-tax income increased 9% to $241.3 million

Pre-tax profit margin improved 40 basis points to 10.0%

Net sales orders increased 12% in value to $2.4 billion and 9% in homes to 8,064

Homes closed increased 4% in value to $2.3 billion and 1% in homes to 8,061

Sales order backlog increased 16% in value to $3.2 billion and 15% in homes to 10,665


"Except for the southeastern region, D.R. Horton’s home sales fell across the most of the nation. "