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D.R. Horton logs 31% YOY gain in fiscal Q1 net income

D.R. Horton Inc. logged a 31% year over year increase in net income for the first quarter of fiscal 2017.

Net income for the the three months ended Dec. 31, 2016, was $206.9 million, or 55 cents per share, up from $157.7 million, or 42 cents per share, in the year-ago period.

The S&P Capital IQ consensus EPS estimates for the quarter was 47 cents.

Homebuilding revenue jumped 20% year over year to $2.8 billion from $2.4 billion. Homes closed during the period increased 17% to 9,404, from 8,061 homes in the year-ago period.