D.R. Horton, Pulte, and Centex Report Quarterly Earnings
Bloomberg.com reports quarterly results for nation’s three largest builders.
Palm Coast, FL – August 4, 2009 – A Bloomberg.com report [full story] reveals quarterly earnings for the nation’s largest residential builders; D.R. Horton, Pulte, and Centex.
Highlights include:
D.R. Horton reported its ninth straight quarterly loss narrowed to $142.3 million. “Market conditions in the homebuilding industry are still challenging, characterized by rising foreclosures, high inventory levels of available homes, increasing unemployment, tight credit for homebuyers and weak consumer confidence,” Chairman Donald Horton said in a statement today.
Pulte Homes Inc. yesterday reported its second-quarter loss widened to $189.5 million.
Centex Corp., which has agreed to be acquired by Pulte, reported a first-quarter profit on a tax benefit. Excluding the tax benefit, the company’s net loss was $2.63 per share. Revenue dropped 49% to $574 million.
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