Summary
If you're looking for a good reason to buy a house, this is it. If you're trying to get out of a mortgage, this may not be the best time. If it's the best, it's probably the worst. If the worst, it may be the worst... The U.S.'s largest homebuilder continued to benefit from pent-up demand for new homes. Revenue rose 14% in its fiscal second quarter to $9.1 billion. Net income jumped 24% to $1.2 billion, giving the company a profit margin of 13.2%. Other key metrics also showed the business growing at a steady pace. On a per-share basis, D.R. Horton reported earnings of $3.52, up 29% from the quarter a year ago. Sales orders, an indicator of future revenue, rose 14% to 26,456. The stock closed Thursday up 0.1% after opening with stronger gains. The company's balance sheet looks rock solid now with roughly $24 billion in net tangible assets. The latest comments from Fed Chair Powell also signal that mortgage rates could remain elevated through the rest of 2024. With a cheap price, solid growth prospects, and excellent cash flow, the stock looks like a great buy right now. The stock is currently trading at $16.50. The company has a long history of making and selling homes and filling its coffers. For more information, visit the company's website.