D.R. Horton Quarterly Earnings Poised for Beat Amid Multiple Tailwinds, Oppenheimer Says

D.R. Horton's (DHI) fiscal third-quarter earnings could exceed Wall Street's estimates amid steady housing demand and other tailwinds, Oppenheimer said Thursday. The homebuilder is scheduled to report results July 21. Oppenheimer projects earnings at $3 a share for the quarter, ahead of the Street's views for $2.98. The brokerage expects revenue to be largely in line with the Street's estimates at $9.19 billion. "(D.R. Horton) has consistently outperformed Street EPS expectations, with its results exceeding consensus estimates in 10 out of the past 15 quarters," Oppenheimer analyst Tyler Batory said in a note to clients. "We believe this trend continues in (the third quarter) given several tailwinds for the business." Demand in the three-month period through June 30 was likely in line with normal seasonality, a view backed by other homebuilders' results and Oppenheimer's channel checks. This suggests the quarter finished "at or modestly above" D.R. Horton's expectations, according to the note. "Construction costs should also remain a tailwind given weak housing starts, plentiful labor, and (the company's) purchasing scale," Batory said. Oppenheimer expects D.R. Horton's.