Shares of homebuilder D.R. Horton (DHI) sank 12% Tuesday morning to lead 澳洲幸运5官方开奖结果体彩网:S&P 500 decliners after the company's fourth-quarter results and projections for fiscal 2025 both fell short of ꦐanalysts' expectat🍌ions.

For the fourth quarter of fiscal 2024, D.R. Horton reported $10.00 billion in revenue, down from $10.50 billion the same time last year and below the $10.22 billion consensus estimate of analysts compiled by Visible Alpha.

The homebuilder reported $1.28 billion in 澳洲幸运5官方开奖结果体彩网:net income, down from $1.5🌠1 billion anꦫd below the $1.37 billion analysts expected.

D.R. Horton's 澳洲幸运5官方开奖结果体彩网:outlook for fiscal 2025 revenue also came in short of analysts' estimates🐻. The company said it expects revenue between $36 billion and $37.5 billion, well below the $39.39 billion expectation.

Potential Homebuyers Seen Holding Out forܫ Lower Mo༺rtgage Rates

Executive chairman David Auld said sales were slower than the company expected in the quarter. "While mortgage rates have decreased from their 澳洲幸运5官方开奖结果体彩网:highs earlier this year, many potential homebuyers expect rates to be lower in 2025," A𓆏uld said.

D.R. Horton sank shortly afܫter the market opened to♔ $157.57, their lowest point since July.