D.R. Horton Q3 EPS $3.20; full-year outlook trimmed slightly as cancellation rate climbs

HBCP +0.91% AAL -0.39% AMAL +1.18%

1. 1D.R. Horton (DHI) reported Q3 results, posting diluted EPS of $3.20 (vs. $3.36 a year earlier) and pre-tax income of $1.2 billion.
2. 2Home deliveries of 23,983 hit the high end of guidance, with gross profit margin of 20.7% and the contract cancellation rate rising to 20% from 17% a year earlier.
3. 3The company returned all $3.4 billion of trailing 12-month operating cash flow to shareholders via buybacks and dividends, and trimmed its full-year delivery outlook slightly on a slowdown in sales.

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