DR Horton: review of objectives after the hurricanes.
(CercleFinance.com) - Homebuilder DR Horton has announced a reduction in some targets for its fourth quarter of 2017, due to the hurricanes that have recently hit the US.
It thus expects an 85% of its backlog to finish as work, against a previous target range of 88% to 90% and SG & A at approximately 8.6% of construction revenue, against a previous target range of 8.3% to 8.4%.
For FY 2017, the Texas-based group plans to generate cash-flow operations of about 150 million dollars, while it previously anticipated around 300 million dollars. However, the group is leaving its preliminary forecasts for 2018 unchanged.
Copyright (c) 2017 CercleFinance.com. All rights reserved.
It thus expects an 85% of its backlog to finish as work, against a previous target range of 88% to 90% and SG & A at approximately 8.6% of construction revenue, against a previous target range of 8.3% to 8.4%.
For FY 2017, the Texas-based group plans to generate cash-flow operations of about 150 million dollars, while it previously anticipated around 300 million dollars. However, the group is leaving its preliminary forecasts for 2018 unchanged.
Copyright (c) 2017 CercleFinance.com. All rights reserved.