D. R. Horton

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D. R. Horton, Inc.
Public company
Traded as NYSEDHI
S&P 500 Index component
Industry Home construction
Founded 1978; 40 years ago (1978)
Founder Donald R. Horton
Headquarters Arlington, Texas
Key people
Donald R. Horton, Chairman
David V. Auld, President & CEO
Bill W. Wheat, CFO
Production output
45,751 new home deliveries
Revenue Increase $14.091 billion (2017)
Increase $1.038 billion (2017)
Total assets Increase $12.184 billion (2017)
Total equity Increase $7.747 billion (2017)
Number of employees
7,735 (2017)
Website www.drhorton.com
Footnotes / references
[1]

D. R. Horton, Inc. is a home construction company incorporated in Delaware and headquartered in Arlington, Texas. In 2017, the company was the largest home builder in the United States based on the number of homes closed.[2] The company is ranked 232nd on the Fortune 500.[3] The company operates in 78 markets in 28 states.[1]

D. R. Horton operates three separately branded divisions: Emerald Homes, Express Homes, and Freedom Homes. Express Homes is tailored to entry-level buyers while the Emerald Homes brand is sold as luxury real estate. Freedom Homes caters to the active adult community, aged 55 and over.[1]

History[edit]

The company was founded in 1978 by Donald R. Horton.

In 1997, the company acquired Continental Homes for $305 million and the assumption of $278 million in debt.[4] The company also entered the Tucson, Arizona market.[5]

In 1998, the company promoted Donald J. Tomnitz to vice chairman and chief executive and promoted Richard Beckwitt to president.[6] The company also acquired Cambridge Homes.[7]

In 1999, the company acquired Century Title Agency.[8]

In 2001, the company acquired Emerald Builders.[9] The company also acquired Fortress Homes and Communities of Florida.[10][11]

In 2002, the company acquired Schuler Homes.[12][13] The company also acquired 300 acres in Arlington, Texas.[14]

In 2013, the company re-entered the Nashville market.[15]

In April 2015, the company acquired Pacific Ridge Homes, based in Seattle, for $72 million.[16] The acquisition included 350 lots, 90 homes in inventory and 40 homes in sales order backlog. Horton also acquired control of about 400 lots through option contracts.[17]

In May 2015, the company received approval from the Honolulu City Council to begin construction on a 11,750-home planned community in West Oahu, Hawaii.[18]

In 2016, the company acquired Wilson Parker Homes for $90 million.[19]

In 2017, the company moved its headquarters from Fort Worth, Texas to Arlington, Texas.[20]

Controversies[edit]

The Supreme Court of the United States will hear the appeal of a case in which the National Labor Relations Board held that the company violated the National Labor Relations Act by requiring its employees to sign an arbitration agreement that prohibited them from pursuing claims in a collective or class action.[21]

References[edit]

  1. ^ a b c "D. R. Horton, Inc. 2017 Form 10-K Annual Report". U.S. Securities and Exchange Commission. 
  2. ^ "The Top 100: 2017". builderonline.com. 
  3. ^ "Fortune 500: D. R. Horton". Fortune. 
  4. ^ "D. R. HORTON SET TO BUY CONTINENTAL HOMES". The New York Times. Bloomberg News. December 20, 1997. 
  5. ^ "D.R. Horton enters Tucson market". American City Business Journals. June 24, 1997. 
  6. ^ "D.R. HORTON, HOME BUILDERS, APPOINTS KEY OFFICERS". The New York Times. Bloomberg News. December 20, 1997. 
  7. ^ "D.R. Horton announces acquisition". American City Business Journals. December 21, 1998. 
  8. ^ "D.R. Horton Inc. acquires leading title agency in Phoenix". American City Business Journals. July 7, 1999. 
  9. ^ "D.R. Horton completes Emerald Builders buy". American City Business Journals. July 18, 2001. 
  10. ^ Daniels, Earl (May 19, 2001). "Fortress Homes bought, to be named Continental by year's end". The Florida Times-Union. 
  11. ^ "D.R. Horton acquires Florida homebuilder". American City Business Journals. May 2, 2001. 
  12. ^ "HORTON ACQUIRES ANOTHER HOME BUILDER". The New York Times. Bloomberg News. October 24, 2001. 
  13. ^ "D.R Horton closes Schuler Homes buy". American City Business Journals. February 22, 2002. 
  14. ^ Perez, Christine (April 21, 2002). "D.R. Horton buys 300 acres at Craig Ranch". American City Business Journals. 
  15. ^ Snyder, Eric (March 1, 2013). "D.R. Horton, nation's largest homebuilder, enters Nashville market". American City Business Journals. 
  16. ^ Maurus, Christine (April 27, 2015). "D.R. Horton to buy Pacific Ridge Homes in Seattle-area expansion". The Seattle Times. 
  17. ^ Carlisle, Candace (April 27, 2015). "Homebuilding giant D.R. Horton gets bigger with $72M acquisition". American City Business Journals. 
  18. ^ Shimogawa, Duane (May 7, 2015). "D.R. Horton gets OK for 11,750-home Hoopili project in West Oahu". American City Business Journals. 
  19. ^ Allison, David (September 6, 2016). "D.R. Horton acquires homebuilding operations of Wilson Parker Homes". American City Business Journals. 
  20. ^ "Fort Worth Star-Telegram". Fort Worth Star-Telegram. June 19, 2017. 
  21. ^ "D.R. Horton v. NATIONAL LABOR RELATIONS BOARD" (PDF). United States Court of Appeals for the Fifth Circuit. December 3, 2013. 

External links[edit]