M.D.C. HOLDINGS Reports Second Quarter FY2023 Earnings Results as of June 30, 2023

🌥️Earnings Overview

On July 27, 2023, M.D.C. HOLDINGS ($NYSE:MDC) reported their earnings results for the second quarter of FY2023 (as of June 30, 2023). Total revenue for the quarter was USD 1136.1 million, a decrease of 23.6% from the same period in the preceding year. Net income was USD 93.5 million, a decrease of 50.7% year-over-year.

Market Price

M.D.C. HOLDINGS reported their second quarter earnings results for fiscal year 2023 on Thursday. The stock opened at $49.2 and closed at $48.6, representing a 0.8% increase from their prior closing price of 48.3. This increase in stock price was due to the company’s strong performance in the second quarter. The company’s strong performance can be attributed to its diversified portfolio of housing communities and increased demand for housing in the United States.

In addition, M.D.C. HOLDINGS has been diligent in controlling costs and leveraging new technology to optimize operations. Overall, M.D.C. HOLDINGS is in a great position going forward and is well-positioned to take advantage of a potential upswing in the economy in the coming months. Live Quote…

About the Company

Income Snapshot

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Cash Flow Snapshot

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Balance Sheet Snapshot

Below shows the total assets, liabilities and book value per share for M.d.c. Holdings. More…

Key Ratios Snapshot

Some of the financial key ratios for M.d.c. Holdings are shown below. More…

Analysis

GoodWhale can analyze M.D.C. HOLDINGS‘s financials and provide insights into what type of investor may be interested in investing in the company. After looking at the Star Chart, we can see that M.D.C. HOLDINGS is classified as a “rhino,” which means that it has achieved moderate revenue or earnings growth. Further analysis reveals that the company has an intermediate health score of 6/10, indicating it may be able to pay off debt and fund future operations. When looking at the company’s financials, we can see that it is strong in asset, dividend, and growth, but only medium in terms of profitability. More…

Peers

It is a publicly traded company and its stock is traded on the New York Stock Exchange. The company is a member of the S&P 500 index.

– Hovnanian Enterprises Inc ($NYSE:HOV)

Hovnanian Enterprises, Inc., a publicly traded company, is engaged in the construction and sale of residential homes in the United States. The company operates through four segments: Homebuilding, Land Development, Financial Services, and Golf Operations. The Homebuilding segment plans, develops, builds, markets, and sells single-family detached homes, townhomes, and condominiums. The Land Development segment acquires, develops, and sells land for future homebuilding operations. The Financial Services segment provides mortgage banking services to homebuyers. The Golf Operations segment owns, operates, and develops golf courses.

– Taylor Morrison Home Corp ($NYSE:TMHC)

Taylor Morrison Home Corp is a homebuilding company that operates in the U.S. and Canada. The company focuses on the design, construction, and sale of single-family detached and attached homes. As of 2022, the company had a market capitalization of 3.07 billion and a return on equity of 18.1%.

– Beazer Homes USA Inc ($NYSE:BZH)

Beazer Homes USA Inc is a homebuilder that operates in the United States. The company has a market cap of 345.59M and a ROE of 15.8%. Beazer Homes builds and sells single-family homes, townhomes, and condominiums. The company operates in Arizona, California, Colorado, Delaware, Florida, Georgia, Indiana, Maryland, Nevada, North Carolina, South Carolina, Tennessee, Texas, and Virginia.

Summary

M.D.C. HOLDINGS reported their Q2 FY2023 earnings results for the period ending June 30, 2023 on July 27, 2023. Total revenue for the quarter decreased by 23.6% to USD 1136.1 million, compared to the same period in the prior year.

Additionally, net income decreased by 50.7% to USD 93.5 million, as compared to the same quarter in the prior year. This quarter’s report is not favorable for investors, as the company’s revenue and net income have seen a significant decrease year-on-year. Investors should continue to monitor M.D.C. HOLDINGS’ performance in the future to determine whether this downward trend is likely to continue or improve.