Buffett-Backed D.R. Horton Beats Q4 Views, Sees Strong 2024 Despite Housing Slowdown
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Warren Buffett-backed D.R. Horton reported better-than-expected fiscal Q4 earnings and revenue, providing optimistic 2024 guidance.
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D.R. Horton's Q4 EPS fell 5% to $4.45 while sales rose 9% to $10.5 billion, beating estimates. The company expects 2024 revenue of $36-37 billion.
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D.R. Horton stock gained Tuesday, extending a 16% November gain. The homebuilder stock is forming a cup base and is 9% below a buy point.
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Berkshire Hathaway holds a 1.76% stake in D.R. Horton, part of Buffett's bet on the supply-constrained U.S. housing market.
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D.R. Horton has strong technical ratings, including an 88 Composite Rating and 91 Relative Strength Rating.