shares of dr horton inc dhi inched up 02 in premarket trading thursday after the homebuilder beat fiscal thirdquarter profit expectations came up a bit shy on revenue as gross margin increased along with pricing while homes closed and sales orders declined net income climbed to 165 billion or 467 a share from 112 billion or 306 a share in the yearago period the factset consensus for earnings per share was 449 revenue grew 206 to 879 billion just below the factset consensus of 881 billion cost of sales increased less than sales rising 128 to 588 billion as gross margin improved to 331 from 284 homes closed fell 1 to 21308 homes and sales orders declined 7 to 16693 homes while sales order value increased 8 to 69 billion the cancellation rate jumped to 24 from 17 a year ago the company said the housing market remained strong through most of the quarter then it saw a moderation in home demand as mortgage rates increased substantially and inflation remained elevated the company cut its fiscal 2022 guidance ranges for revenue to 338 billion to 346 billion from 353 billion to 361 billion and for homes closed to between 83000 and 85000 from between 88000 and 90000 the stock has slipped 03 over the past three months through wednesday while the sp 500 spx has lost 99