D.R. Horton sees Q1 revenue $6.8B-$7.3B, consensus $7.73B

Sees Q1 homes closed 17,500-18,000. Sees Q1 gross margin 22.5%. Sees Q1 tax rate 24.5%. Sees Q1 rental revenue relatively flat. Sees Q1 average selling price relatively flat. Says demographics supporting housing demand are favorable. Says well positioned for FY25. Says expects Q1 gross margin to be lower than Q4. Says results for FY25 will largely be based on results from this Spring. Says affordability has been challenged. Comments and guidance taken from Q4 earnings conference call.