10:54 AM EDT, 10/29/2024 (MT Newswires) -- (Updates to add stock move in the headline and the first paragraph.)

D.R. Horton ( DHI ) shares dropped 11% in recent trading after it reported fiscal Q4 net income Tuesday of $3.92 per diluted share, down from $4.45 a year earlier.

Analysts polled by Capital IQ expected $4.16.

Consolidated revenue for the quarter ended Sept. 30 was $10 billion, down from $10.50 billion a year earlier.

Analysts surveyed by Capital IQ expected $10.19 billion.

D.R. Horton ( DHI ) said it expects fiscal 2025 revenue of $36 billion to $37.5 billion. Analysts polled by Capital IQ expect $39.52 billion.

The company said it will provide fiscal Q1 guidance in its conference call later in the day.

The company also said it lifted its quarterly cash dividend by 33% to $0.40 per share, payable Nov. 19 to shareholders of record on Nov. 12.

Price: 160.54, Change: -19.84, Percent Change: -11.00