Wrapping up Q4 earnings, we look at the numbers and key takeaways for the home builders stocks, including D.R. Horton (NYSE: DHI) and its peers.

Traditionally, homebuilders have built competitive advantages with economies of scale that lead to advantaged purchasing and brand recognition among consumers. Aesthetic trends have always been important in the space, but more recently, energy efficiency and conservation are driving innovation. However, these companies are still at the whim of the macro, specifically interest rates that heavily impact new and existing home sales. In fact, homebuilders are one of the most cyclical subsectors within industrials.

The 13 home builders stocks we track reported a mixed Q4. As a group, revenues beat analysts’ consensus estimates by 3.6%.

In light of this news, share prices of the companies have held steady. On average, they are relatively unchanged since the latest earnings results.

D.R. Horton (NYSE: DHI)

One of the largest homebuilding companies in the U.S., D.R. Horton (NYSE: DHI) builds a variety of new construction homes across multiple markets.

D.R. Horton reported revenues of $6.89 billion, down 9.5% year on year. This print exceeded analysts’ expectations by 3.4%. Overall, it was a strong quarter for the company with an impressive beat of analysts’ adjusted operating income estimates and a solid beat of analysts’ revenue estimates.

D.R. Horton achieved the highest full-year guidance raise of the whole group. Investor expectations, however, were likely higher than Wall Street’s published projections, leaving some wishing for even better results (analysts’ consensus estimates are those published by big banks and advisory firms, not the investors who make buy and sell decisions). The stock is down 1.4% since reporting and currently trades at $153.71.

Is now the time to buy D.R. Horton? Access our full analysis of the earnings results here, it’s free.

Best Q4: Taylor Morrison Home (NYSE: TMHC)

Named “America’s Most Trusted Home Builder” in 2019, Taylor Morrison Home (NYSE: TMHC) builds single family homes and communities across the United States.

Taylor Morrison Home reported revenues of $2.1 billion, down 10.9% year on year, outperforming analysts’ expectations by 7.2%. The business had a stunning quarter with an impressive beat of analysts’ EBITDA estimates and a solid beat of analysts’ adjusted operating income estimates.

Although it had a fine quarter compared its peers, the market seems unhappy with the results as the stock is down 2.7% since reporting. It currently trades at $64.59.

Is now the time to buy Taylor Morrison Home? Access our full analysis of the earnings results here, it’s free.

Weakest Q4: Meritage Homes (NYSE: MTH)

Originally founded in 1985 in Arizona as Monterey Homes, Meritage Homes (NYSE: MTH) is a homebuilder specializing in designing and constructing energy-efficient and single-family homes in the US.

Meritage Homes reported revenues of $1.44 billion, down 11.5% year on year, falling short of analysts’ expectations by 3.8%. It was a disappointing quarter as it posted a significant miss of analysts’ revenue estimates and a significant miss of analysts’ adjusted operating income estimates.

Meritage Homes delivered the weakest performance against analyst estimates in the group. Interestingly, the stock is up 5.1% since the results and currently trades at $72.68.

Read our full analysis of Meritage Homes’s results here.

NVR (NYSE: NVR)

Known for its unique land acquisition strategy, NVR (NYSE: NVR) is a respected homebuilder and mortgage company in the United States.

NVR reported revenues of $2.71 billion, down 4.7% year on year. This result topped analysts’ expectations by 9.4%. It was an exceptional quarter as it also logged a solid beat of analysts’ adjusted operating income estimates and an impressive beat of analysts’ revenue estimates.

The stock is down 1.2% since reporting and currently trades at $7,410.

Read our full, actionable report on NVR here, it’s free.

Installed Building Products (NYSE: IBP)

Founded in 1977, Installed Building Products (NYSE: IBP) is a company specializing in the installation of insulation, waterproofing, and other complementary building products for residential and commercial construction.

Installed Building Products reported revenues of $747.5 million, flat year on year. This print beat analysts’ expectations by 1.5%. Overall, it was an exceptional quarter as it also recorded a solid beat of analysts’ EBITDA estimates and an impressive beat of analysts’ adjusted operating income estimates.

The stock is up 8.7% since reporting and currently trades at $326.79.

Read our full, actionable report on Installed Building Products here, it’s free.

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