Join The Discussion

 

Berkshire Hathaway company acquires Fort Worth firm

M&M Manufacturing, a producer of sheet metal products for the air distribution and ventilation market based in Fort Worth, has been acquired by MiTek Industries Inc., a subsidiary of Warren Buffett’s Berkshire Hathaway Inc.,

read more >

UPDATE: Six candidates file for two Water Board seats

Six candidates have filed for the two open seats on the Tarrant Regional Water Board, setting up a battle that could potentially shift the balance of power on the board and the priorities of one of the largest water districts in Texas.

read more >

26-story mixed-use tower planned at Taylor & Fifth in downtown Fort Worth

Jetta Operating Co., a 24-year-old privately held oil and gas company in Fort Worth, and a related entity plan a 26-story mixed-use tower downtown at Taylor and Fifth streets on a site once owned by the Star-Telegram.

read more >

Top area CFOs honored

The Fort Worth Business Press honored 13 area chief financial officers today with a luncheon at the Fort Worth Club.

read more >

Fort Worth Superintendent candidate withdraws from consideration

And then there were none. The lone Fort Worth ISD Superintendent candidate, Dr. Joel D. Boyd, has informed the Fort Worth ISD Board of Education that he is

read more >

 

D.R. Horton sees fiscal 2Q increases in prices, orders

Fort Worth-based D.R. Horton Inc. (DHI), saw prices and orders increase during its fiscal second quarter.


D.R.Horton, the largest U.S. homebuilder by revenue, said net income increased to $131 million, or 38 cents a share, in the three months ended March 31, compared with $111 million, or 32 cents, a year earlier. Analysts were expecting earnings of about 34 cents a share.
Homebuilding revenue for the company increased to $1.7 billion in the fiscal second quarter from $1.39 billion a year earlier. The company said it sold 6,194 homes, up from 5,643 a year earlier. Orders for new homes increased to 8,569 from 7,879.


“Housing market conditions remain favorable, and as expected, the pace and strength of the improvement varies significantly across our local operating markets,” said Donald R. Horton, chairman of the board,, in a statement. “Our broad geographic footprint, diversified product offerings, solid balance sheet and robust finished lot supply put us in a strong position to capture demand and increase revenues and profitability in the second half of our fiscal year."
"Our homebuilding and financial services operations delivered a great quarter, highlighted by pre-tax income of $201.9 million and a pre-tax income margin of 11.6 percent,” he said.

Horton also noted that the dollar value of the company’s homes sold, closed and in backlog all increased by double-digit percentages and that the company’s net sales orders in the March quarter were up 57 percent sequentially from the December quarter and up 9 percent from the March quarter last year. Average sales prices were up too, increasing 10 percent to $278,900.
 

< back

Email   email
hide
Catch
How 'bout them Cowboys?