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May 9, 2014
14:07 EDTDHID.R. Horton acquires homebuilding operations of Crown Communities
D.R. Horton announced the acquisition of the homebuilding operations of Crown Communities, which builds in Georgia, South Carolina, and eastern Alabama. The homebuilding assets acquired include a sales order backlog of approximately 420 homes sold, 640 homes in inventory and 2,350 lots. D.R. Horton also acquired control of approximately 3,400 lots through option contracts. In calendar 2013, Crown closed 1,540 homes, $375M in revenue, with an average home size of approximately 3,500 square feet and an average sales price of $244,000. Crown is ranked as the 28th largest builder in the United States by Builder Magazine and is the largest builder in the Atlanta market. D.R. Horton will pay approximately $210M in cash for the purchase, and Crown will operate as a separate division within D.R. Horton.
News For DHI From The Last 14 Days
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July 28, 2015
10:28 EDTDHID.R. Horton says housing getting better
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10:24 EDTDHID.R. Horton sees 2016 revenue growth driven by volume, price
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10:20 EDTDHID.R. Horton sees FY16 consolidated revenue up 10%-15%
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10:20 EDTDHID.R. Horton says sales trends 'solid' in July
Sees Q4 backlog conversion rate 81%-84%. Sees Q4 home sales gross margin in high 19%-20% range. Sees Q4 homebuilding SG&A 8.7%-8.9% of homebuilding revenues. Says sales trends "solid" in July. Sees Q4 Financial Services operating margin 35%-40%. Sees Q4 tax rate 35%-36%. Sees Q4 average selling price $285,000-$290,000. Comments made on the Q3 earnings conference call. D.R. Horton is down 0.52% to $26.60 in morning trading.
07:05 EDTDHID.R. Horton says well-positioned to finish FY strong, have even stronger FY16
07:05 EDTDHID.R. Horton reports Q3 EPS 60c, consensus 50c
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