Ryland Group Inc. (NYSE: RYL) reported second-quarter EPS of $0.14 and $293.8 million in revenue after markets closed today. EPS was up from an EPS loss of -$0.24 in the same period a year ago, while revenue was up from $225.2 million. The results compare to the Thomson Reuters consensus estimates for EPS of $0.16 and $$297.1 million in revenue.
The homebuilder did not offer guidance in its press release. The consensus estimate for yearly revenue is $1.2 billion and the EPS estimate is $0.64. Third quarter EPS is estimated at $0.26 on revenue of $333.65 million.
In its press release the company noted gross margins rose by nearly 2% year-over-year and that new orders rose 41.6%. Backlog rose 47% compared with the second quarter of 2011, to 1,549 units, and the dollar value of the backlog jumped 55.2% year-over-year.
Refreshingly, the company’s SG&A expenses fell by -1.5% primarily due to “higher leverage resulting from increased revenues, as well as to cost-saving measures.” For the past few years, it was cost-cutting alone that saved homebuilders’ bacon.
Shares are up about 1.6% in after-hours trading, at $25.21 in a 52-week range of $9.15-$27.15. Thomson Reuters had a consensus analyst price target of $25.23 before today’s results were announced.
Paul Ausick
Is Your Money Earning the Best Possible Rate? (Sponsor)
Let’s face it: If your money is just sitting in a checking account, you’re losing value every single day. With most checking accounts offering little to no interest, the cash you worked so hard to save is gradually being eroded by inflation.
However, by moving that money into a high-yield savings account, you can put your cash to work, growing steadily with little to no effort on your part. In just a few clicks, you can set up a high-yield savings account and start earning interest immediately.
There are plenty of reputable banks and online platforms that offer competitive rates, and many of them come with zero fees and no minimum balance requirements. Click here to see if you’re earning the best possible rate on your money!
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
