D.R. Horton third-quarter results beat estimates on incentives push
Third-quarter results from a D.R Horton report demonstrate profit and revenue above early estimates thanks to buyer incentives carrying home sales during consecutive months of low home sales due to high interest rates and rising costs. Such incentives, although keeping home sales steady, apply pressure on the earnings and increase building costs; however, CEO Paul J. Romanowski claims the incentives will stay an elevated rate through the fourth quarter to keep home sales on target to the expected minimum of 85,000 transactions for the year.
