Berkshire Hathaway’s (NYSE:BRK.B) most recent 13F filing for Q2 2023 revealed three new purchases of homebuilder stocks. Warren Buffett bought D.R. Horton (NYSE:DHI), NVR (NYSE:NVR), and Lennar (NYSE:LEN), with D.R. Horton being the most significant new position at 0.21% of Berkshire’s assets. In this article, I’ll review D.R. Horton’s Fiscal Q3-2023 results and discuss why I believe it makes sense to follow in Buffett’s footsteps. I am bullish on DHI stock.
D.R. Horton Q3-2023 Results
D.R. Horton reported 10.7% year-over-year revenue growth in Q3 of Fiscal 2023, an acceleration compared to the 4.7% year-to-date growth rate. However, despite a smaller share count (down 3.1% from the prior-year period), earnings per share were weaker, 16.5% lower from Q3 2022 to $3.90/share. The silver lining is that the decrease was smaller than the 20.8% drop to $9.39/share in the first nine months of the year.
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