earnings
confidence high
sentiment negative
materiality 0.75
Dream Finders Q3 revenue up 10% to $986M, net income down 7%; acquires Jet HomeLoans
Dream Finders Homes, Inc.
2024-Q3 EPS reported
$2.06
revenue$2,890,854,000
- Homebuilding revenues increased 10% to $986M; net new orders up 9% to 1,680.
- Net income attributable to DFH fell 7% to $71M ($0.72 per share); pre-tax income down 11%.
- Adjusted homebuilding gross margin slipped 80bps to 27.6%; homebuilding gross margin 19.2%.
- Acquired remaining 40% of Jet HomeLoans on July 1; contributed $16M revenue and $7M pre-tax profit in Q3.
- Repurchased 180,164 shares for $5M; reiterated FY2024 closings guidance of 8,250.