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Ryland Group (RYL +1.3%) gains after beating Q3 estimates and swinging to a profit as the...
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Thursday, October 25, 2012, 11:17 AM ETRyland Group (RYL +1.3%) gains after beating Q3 estimates and swinging to a profit as the homebuilding and mortgage-finance company logged solid growth in new orders and better housing margins. Total revenue jumped 44% Y/Y, boosted by strong homebuilding revenue which increased by 45% over the same period. Housing gross margins also widened to 19.1% from 17.7%, while new orders rose 56% and its backlog grew 58% from a year earlier.
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