D.R. Horton Q4 Earnings Miss, Revenues Down Y/Y Amid Housing Market Softness

D.R. Horton reported Q4 earnings that missed Zacks Consensus Estimate, with revenues down 3.2% YoY. Home closings decreased 1% YoY, and the backlog level also declined. Soft market conditions, declining consumer confidence, and affordability concerns impacted the company's performance. However, strong liquidity, low leverage, and national scale offer operational and financial flexibility. The company increased its quarterly dividend by 13% to 45 cents per share. Shares tumbled 7.3% following the earnings release.