Berkshire Hathaway (Warren Buffett) discloses updated portfolio positions in 13F filing

New DHI NVR LEN positions, Exited MCK MMC, Lowered ATVI GM CVX holdings

Highlights from Q2 2023 filing as compared to Q1 2023:

• New positions in: DHI (~5.97 mln shares), LEN (~0.15 mln), NVR (~0.01 mln)
• Increased positions in: OXY (affirmed increased to ~224.13 mln shares from ~211.71 mln shares), COF (to ~12.47 mln from ~9.92 mln)
• Maintained positions in: BAC (~1032.85 mln shares), AAPL (~915.56 mln shares), KO (~400 mln shares), KHC  (~325.63 mln shares), AXP (~151.61 mln shares), HPQ (~120.95 mln shares), DVA (~36.1 mln shares), MCO (~24.67 mln shares)
• Closed positions in: MCK (from ~2.29 mln shares), MMC (from ~0.4 mln), VTS (from ~0.05 mln)
• Decreased positions in: ATVI (to ~14.66 mln shares from ~49.44 mln shares), GM (to ~22 mln from ~40 mln), CVX (to ~123.12 mln from ~132.41 mln), GL (to ~2.52 mln from ~6.35 mln), CE (to ~5.36 mln from ~8.82 mln)

DR Horton (DHI) reported earnings on Tue 12 Nov 19 (b/o)

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D.R. Horton beats by $0.10, beats on revs; Q4 net sales orders up 14%; guides FY20 revs midpoint above consensus; raises quarterly dividend 17%

Reports Q4 (Sep) earnings of $1.35 per share, excluding non-recurring items, $0.10 better than the S&P Capital IQ Consensus of $1.25; revenues rose 11.7% year/year to $5.04 bln vs the $4.86 bln S&P Capital IQ Consensus.

Q4 Homes closed increased 9% to 16,024 homes and 10% in value to $4.8 bln. Q4 Net sales orders increased 14% to 13,130 homes and 16% in value to $4.0 bln.

Co issues in-line guidance for FY20, sees FY20 revs of $18.5-19.0 bln vs. $18.55 bln S&P Capital IQ Consensus. FY20 Guidance details: Homes closed between 60,000 homes and 61,000 homes. Income tax rate of approximately 25%. Cash flow from homebuilding operations in excess of $1.0 bln.

Subsequent to year-end, the Company declared a quarterly cash dividend of $0.175 per common share, an increase of 17% compared to its most recent dividend paid. The dividend is payable on December 11, 2019 to stockholders of record on November 27, 2019.

Earnings this week : Nov 11 - 15, 19 (wk 46)

Monday (Nov 11)

• Morning: FOLD CRR QRTEA
• Afternoon: APYX DXC FGEN FLNT FNV FTK GO HBM ICUI TDW TERP TME UGI

Tuesday (Nov 12)

• Morning: AAP ACM AEIS BPMP CBS CNNE CRON CVET DF DHI DPLO DSKE EBIX EDIT EGRX EPC ERJ GTT IAA IIVI INFN KEM MPAA OSTK PSN RDNT ROK SAGE SE TSN XON
• Afternoon: ADPT ADT APEI BREW CBPX CDLX CPRX DDOG DOX HALO HCAT HIIQ HTHT HUYA KWR MCRN MTSI OMER PTE RUN SCSC SDC SENS SSTI SWKS TLRY TVTY TWOU VRAY VREX YY

Wednesday (Nov 13)

• Morning: BEST CAE CMCM ENR FVRR GOOS LK MTOR SPB SSYS TSEM VIPS
• Afternoon: BZH CHNG CBPO CSCO CPA HI HOLI NTAP PSNL PRSP TGP TNK TTEK TCOM

Thursday (Nov 14)

• Morning: BAM CHC CTRA GDS IGT NBEV NICE RUBY SINA TUFN VIAB WMT WB WIX ZEAL
• Afternoon: AMAT AXNX DLB FTCH FSM GLOB HP KLIC NVDA VFF WPM

Friday (Nov 15) 

• Morning: JCP JD

DR Horton (DHI) reported earnings on Fri 25 Jan 2019 (b/o)

• #3-5, 15, 22, 26, 32, 33, 35, 36, 37, 40, 50, 52 53, 58, 60, 65, 72 76, 80, 82,  93

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D.R. Horton misses by $0.01, reports revs in-line

• Reports Q1 (Dec) earnings of $0.76 per share, $0.01 worse than the S&P Capital IQ Consensus of $0.77; revenues rose 5.6% year/year to $3.52 bln vs the $3.49 bln S&P Capital IQ Consensus.
• Net sales orders for the first quarter ended December 31, 2018 increased 3% to 11,042 homes compared to 10,753 homes in the same quarter of the prior year and were unchanged in value at $3.2 billion.

Earnings this week : Jan 21 - 25, 19 (wk 4)

Earnings confirmed to report this week:

Monday (Jan 21)    

• Market closed for Martin Luther King Jr. Day

Tuesday (Jan 22)

• Morning: ATI FITB GATX HAL HMST JNJ LOGI EDU PETS PLD SWK TRV
• Afternoon: AMTD CNMD COF FMBI HOPE IBKR IBM LRN LTXB NAVI RNST SFNC TBK UCBI WTFC ZION

Wednesday (Jan 23)

• Morning:  ABT APH ASML BKU BPOP CBU CMCSA HZO KMB NTRS PG PGR RES ROL SYF TDY TEL UTX WAT
• Afternoon:  ADTN AZPN BGG BXS CATY CCI CMRE CNS CP CTXS CVBF F FFBC FFIV HXL LRCX  LVS NXGN PTC RJF SLG SLM STL TCBI TER TRMK TXN UMPQ URI VAR XLNX

Thursday (Jan 24)

• Morning:  AAL AEP AIT AVX BANC BMY COLB DLX EWBC FCX GWW HBAN ISCA JBLU LUV MKC MMYT ORI RCI STM TAL TXT UNP VIVO WBS
• Afternoon: ALK ASB AVT CUBI DFS  ETFC FHB FII HTH INTC ISRG NBHC NSC OSIS RMD SBCF SBUX SIVB WAL WDC

Friday (Jan 25)

• Morning: ABBV ABCB APD CL DHI ERIC HRC IBKC LEA MOG.A NEE

DR Horton (DHI) reported earnings on Tue 24 Jan 2017 (b/o)

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DR Horton beats by $0.07, beats on revs; reaffirms FY17 guidance  :

• Reports Q1 (Dec) earnings of $0.55 per share, $0.07 better than the Capital IQ Consensus of $0.48; revenues rose 20.2% year/year to $2.9 bln vs the $2.69 bln Capital IQ Consensus. Homebuilding revenue for the first quarter of fiscal 2017 increased 20% to $2.8 billion from $2.4 billion in the same quarter of fiscal 2016. Homes closed in the quarter increased 17% to 9,404 homes compared to 8,061 homes in the prior year quarter. Pre-tax profit margin for the first quarter of fiscal 2017 improved 100 basis points to 11.0% from 10.0% in the same quarter of fiscal 2016. The improvement in pre-tax profit margin was driven primarily by a 70 basis point decrease in homebuilding SG&A expense as a percentage of revenues. Home sales gross margin in the first quarter of fiscal 2017 was 19.8%, compared to 19.9% in the prior year quarter and 20.5% in the fourth quarter of fiscal 2016. Gross margin decreased from the fourth quarter primarily due to higher warranty and litigation costs as a percentage of homebuilding revenues.
• In the current housing market, the Company continues to expect its average home sales gross margin to be around 20%, with quarterly fluctuations that may range from 19% to 21% due to product and geographic mix and the relative impact of warranty, litigation and interest costs. Homebuilding SG&A expense as a percentage of revenues in the first quarter of fiscal 2017 was 9.5% compared to 10.2% in the prior year quarter.
• Co reaffirms guidance for FY17, sees FY17 revs of $13.4-13.8 bln vs. $13.5 bln Capital IQ Consensus Estimate. D.R. Horton reaffirms its previously issued fiscal 2017 guidance including a consolidated pre-tax profit margin of 11.2% to 11.5%, consolidated revenues of $13.4 billion to $13.8 billion, homes closed between 43,500 homes and 45,500 homes and cash flow from operations in the range of $300 million to $500 million. The Company's fiscal 2017 results will be significantly impacted by the strength of the spring selling season, and the Company will update its expectations as necessary each quarter. The Company's sales order backlog of homes under contract at December 31, 2016 increased 6% to 11,312 homes and 7% in value to $3.4 billion compared to 10,665 homes and $3.2 billion at December 31, 2015. 

D.R. Horton (DHI) reported 4Q earnings on Mon 25 Jan 2016 (before open)

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DR Horton beats by $0.01, misses on revs :

• Reports Q1 (Dec) earnings of $0.42 per share, $0.01 better than the Capital IQ Consensus of $0.41; revenues rose 4.8% year/year to $2.36 bln vs the $2.43 bln Capital IQ Consensus. 
• Net sales orders for Q1 increased 9% to 8,064 homes and 12% in value to $2.4 billion, compared to 7,370 homes and $2.1 billion in the prior year quarter. The Company's cancellation rate (cancelled sales orders divided by gross sales orders) for the first quarter of fiscal 2016 was 23%. Closings +1% to 8061, value +4% to $2.3 bln.
• The Company's sales order backlog of homes under contract at December 31, 2015 increased 15% to 10,665 homes and 16% in value to $3.2 billion, compared to 9,285 homes and $2.7 billion at December 31, 2014.
• Gross margin 19.9% vs. 19-20% guidance.
• Pretax profit margin +40 bps to 10%; pretax income +9% to $241.3 mln.
• "With a sales backlog of 10,665 homes at the end of December, positive sales trends in January and a robust lot supply and inventory of homes available for sale, we are well-positioned for the spring selling season and fiscal 2016. We remain focused on growing our revenues and pre-tax profits at a double-digit annual pace, while generating positive cash flows and improved returns."