DR Horton reports higher third-quarter results, but housing orders down

Shares of Texas homebuilder DR Horton (DHI) soared after missing estimates for home orders in its fiscal third quarter. DR Horton beat earnings estimates on both its top and bottom lines, reporting revenue of $9.97 billion ($9.63 billion expected) and adjusted earnings per share of $4.10 ($3.76 per share expected).

Morning Brief’s Madison Mills and Seana Smith dissect Dr. Horton’s housing order projections as the U.S. housing market navigates challenging mortgage and interest rate environments.

For more expert insights and the latest market action, click here to watch this full episode of Morning Brief.

This post was written by Luke Carberry Mogan.