Their net new order for the quarter were exactly 6% of the US market- that is a record! When the market recovers with 1 mil new home sales at $300,000 average (2015-2016 estimate), they will have $18 Bil revenue with that 6% of the whole US market. Assume X1 p/s that is an X6 time appreciation from here! Show me another stock with that kind of prospect (maybe ZIP).
APD--That is idiot logic, they would be out of lots in one yr with that analysis--bottom line, revenues were down 17% from last yrs and key number is backlog value down from 1.7 B to $1.4 B, almost a 20% decrease--that is horrific !!! and C-S index still going down and higher interest for sure this summer, this release is really bad for 2Q and IMHO 3Q--they just have too much debt and just way overpaid for CTX which may put them into BK. I hope I am wrong re BK because some good people there, but with backlog down so much next Q will be down more than 30% from last yr and BV still going down.
As I said, this quarter would be bad and you should not judge their future performance. We just will not the perfect storm of economic conditions such as extreme weather and political unrest in the Middle East.
After reviewing the numbers, they were better than I expected and they will improve from here just like the housing numbers are improving off Feb's bottom.
But hey, short all you want, what we say on these boards have no impact on the stock performance.