M.D.C. Holdings Q2 Results Climb, Top Market Estimates - Quick Facts

(RTTNews) - Homebuilder M.D.C. Holdings, Inc. (MDC) reported Thursday that its second-quarter net income climbed 83 percent to $154.35 million or $2.11 per share from $84.40 million or $1.21 per share a year ago.

Home sale revenues grew 54 percent to $1.37 billion from last year's $886.76 billion.

On average, analysts polled by Thomson Reuters expected earnings of $2.01 per share on sales of $1.35 billion for the quarter. Analysts' estimates typically exclude special items.

Home sales revenue growth was driven by a 43 percent increase in unit closings and an 8 percent rise in average selling prices.

Looking ahead, the company projects home deliveries for the third quarter between 2,500 and 2,700 units with average selling price between $510,000 and $520,000.

For the year 2021, home deliveries are expected between 10,000 and 11,000 units.