It just shows that the large builders, who have the leverage and the economies of scale, can grow in a challenging environment. As long as there are no major misses, and forward-looking (profit) guidance is not negative, we remain encouraged. |
The fact that orders were up, and they're maintaining guidance is another example that it's not the end of the world. |
The overall tone wasn't great. They didn't give a tremendously robust outlook. They thought the market would probably be in a better position today. |