Shares of homebuilder D.R. Horton (DHI) sank 12% Tuesday morning to lead 澳洲幸运5开奖号码历史查询:S&P 500 decliners after the company's fourth-quarter results and projections for fiscal 2025 both fell🦩 shoℱrt of analysts' expectations.

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开奖号码历史查询:net income, down from $1.51 billion and below the $1.37 billion analysts e🥂xpected.

D.R. Horton's 澳洲幸运5开奖号码历史查询:outlook for fiscal 2025 revenue also came in short of analysts' estimates. The company said it expects r🗹evenue between $36 billion and $37.5 billion,🌌 well below the $39.39 billion expectation.

Potential Homebuyers Se🃏en Holding Out for Lo🔯wer Mortgage 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开奖号码历史查询:highs earlier this year, many potential hom♈ebuyers expect rates to be l🍸ower in 2025," Auld said.

D.R. Horton sank shortly after the market opened to $157.57, the꧋ir lowest point since July.