Business

Homebuilder D.R. Horton’s first-quarter earnings jump 86 percent

The builder has targeted more move-up buyers.
The builder has targeted more move-up buyers.Rick Wilking/reuters/File

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D.R. Horton Inc., the largest US homebuilder by revenue, said earnings jumped 86 percent in its first quarter as the company was able to raise prices and deliver more houses. Net income rose to $123.3 million, or 36 cents a share, from $66.3 million, or 20 cents, a year earlier, the Fort Worth, Texas, company said. That compares with a 30-cent average estimate. In a statement, chairman Donald R. Horton said the builder is “well-positioned to capture demand in the spring selling season.” Horton, which historically has built houses for first-time buyers, has been targeting more move-up buyers who can pay higher prices.

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