D.R. Horton reports earnings miss, says interest rate volatility is keeping some homebuyers on the sidelines.
There could be trouble ahead for consumers and the economy if interest rates don't come down, the latest financial results from D.R. Horton suggest. The Arlington , Texas-based homebuilder reported quarterly earnings that missed Wall Street analyst estimates, and gave disappointing guidance about future results before the market opened Tuesday, sending shares tumbling 11%. CEO David Auld said interest rate volatility is keeping some homebuyers on the sidelines.
In fact, rates have actually increased since the Federal Reserve began its rate-cutting campaign in September, when it lowered the fed funds rate by half a percentage point . Strong economic data combined with uncertainty around the central bank's path for future rate cuts have weighed on the benchmark Treasury security. D.R. Horton said it expects revenue between $36 billion and $37.5 billion in the fiscal year ending in Sept. 2025, below the $38.
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