DHI · Real Estate

HORTON D R INC /DE/

Ranked earnings events from SEC filings, earnings calls, press releases and news. Full Picture: everything published this earnings window

News · 2026-11-05

• Revenue Guidance and OutlookImportance 68 · Surprise 68
  D.R. Horton forecast fiscal 2027 revenue of $30 billion to $32 billion and 79,000 to 84,000 home closings. The revenue range had a midpoint of $31 billion, reported as 7.9% below analysts’ estimates. Net sales orders…
• Quarterly Dividend IncreaseImportance 44 · Surprise 58
  D.R. Horton raised its quarterly dividend by 11% following its fiscal 2026 results. The report also cited full-year 2026 sales of $32.2 billion and net income of $2.9 billion alongside the dividend increase. The…
• Revenue Performance and MixImportance 18 · Surprise 14
  D.R. Horton’s fiscal Q4 2026 revenue was $9.371 billion, down 3.2% year over year, although it exceeded analyst estimates of $8.988 billion. Homebuilding revenue fell 2% to $8.4 billion, while homes closed declined 2%…

News · 2026-11-03

• Revenue Guidance and OutlookImportance 68 · Surprise 68
  D.R. Horton forecast fiscal 2027 revenue of $30 billion to $32 billion and 79,000 to 84,000 home closings. The revenue range had a midpoint of $31 billion, reported as 7.9% below analysts’ estimates. Net sales orders…
• Gross Margin DriversImportance 42 · Surprise 40
  D.R. Horton’s fiscal Q4 2026 operating margin was 9.9%, down from 11.6% in the prior-year quarter. Management expected first-quarter fiscal 2027 home sales gross margin of 18% to 18.5%, compared with 19.5% in Q4. The…
• Home Closings and OrdersImportance 31 · Surprise 32
  D.R. Horton faced weaker homebuyer demand amid elevated mortgage rates and affordability pressures. Fiscal fourth-quarter net sales orders decreased 7% year over year, while home closings declined 2% to 22,915.…

News · 2026-11-02

• Guidance / OutlookImportance 68 · Surprise 68
  On its October 29, 2026 earnings call, D.R. Horton forecast fiscal 2027 revenue of $30 billion to $32 billion and 79,000 to 84,000 home closings. Management expected first-quarter home sales gross margin of 18% to…
• Home Closings and OrdersImportance 31 · Surprise 32
  D.R. Horton faced weaker homebuyer demand amid elevated mortgage rates and affordability pressures. Fiscal fourth-quarter net sales orders decreased 7% year over year, while home closings declined 2% to 22,915.…
• Revenue Performance and MixImportance 18 · Surprise 14
  D.R. Horton’s fiscal Q4 2026 revenue was $9.371 billion, down 3.2% year over year, although it exceeded analyst estimates of $8.988 billion. Homebuilding revenue fell 2% to $8.4 billion, while homes closed declined 2%…

News · 2026-11-01

• Revenue Guidance and OutlookImportance 68 · Surprise 68
  D.R. Horton forecast fiscal 2027 revenue of $30 billion to $32 billion and 79,000 to 84,000 home closings. The revenue range had a midpoint of $31 billion, reported as 7.9% below analysts’ estimates. Net sales orders…
• Gross Margin DriversImportance 42 · Surprise 40
  D.R. Horton’s fiscal Q4 2026 operating margin was 9.9%, down from 11.6% in the prior-year quarter. Management expected first-quarter fiscal 2027 home sales gross margin of 18% to 18.5%, compared with 19.5% in Q4. The…
• Home Closings and OrdersImportance 31 · Surprise 32
  D.R. Horton faced weaker homebuyer demand amid elevated mortgage rates and affordability pressures. Fiscal fourth-quarter net sales orders decreased 7% year over year, while home closings declined 2% to 22,915.…
• Revenue Performance and MixImportance 18 · Surprise 14
  D.R. Horton’s fiscal Q4 2026 revenue was $9.371 billion, down 3.2% year over year, although it exceeded analyst estimates of $8.988 billion. Homebuilding revenue fell 2% to $8.4 billion, while homes closed declined 2%…

News · 2026-10-30

• Guidance and OutlookImportance 74 · Surprise 68
  D.R. Horton’s initial fiscal 2027 guidance calls for consolidated revenue of $30.0 billion to $32.0 billion. The company projects 79,000 to 84,000 home closings in fiscal 2027. Management also expects lower margins in…
• Dividend IncreaseImportance 50 · Surprise 58
  D.R. Horton increased its quarterly cash dividend by 11% to $0.50 per share. The increase marked the company’s 13th consecutive year of dividend growth. The dividend increase was announced alongside fiscal Q4 net…
• Home Closings and OrdersImportance 25 · Surprise 32
  D.R. Horton closed 22,915 homes in fiscal Q4 2026, down 2% year over year, while net sales orders fell 7%. Reporting attributed weaker buyer demand to rising mortgage rates and affordability constraints, alongside…
• Macroeconomic Consumer PressureImportance 25 · Surprise 32
  D.R. Horton attributed weaker homebuyer demand to rising mortgage rates, affordability constraints, and cautious consumer sentiment. In fiscal Q4 2026, net sales orders fell 7% year over year, and the company closed…

Earnings call · 2026-10-29

• Revenue Guidance and OutlookImportance 73 · Surprise 50
  For fiscal 2027, D.R. Horton expects consolidated revenues of approximately $30 billion to $32 billion and homebuilding closings of 79,000 to 84,000 homes, citing uncertainty in housing demand and the broader economy.…
• Affordable Home ProductsImportance 65 · Surprise 82
  D.R. Horton is adjusting home designs community by community, including offering smaller homes and smaller lots to reach lower price points and monthly payments. Average home square footage declined 4% over five years,…
• Capital Return ProgramImportance 61 · Surprise 32
  D.R. Horton returned $4.1 billion to shareholders through repurchases and dividends in fiscal 2026. It repurchased 9.4 million shares for $1.4 billion in the fourth quarter and 24 million shares for $3.6 billion for…
• Market Demand TrendsImportance 55 · Surprise 32
  New-home demand weakened as mortgage rates rose and cautious consumer sentiment constrained buyers, with net sales orders down 7% year over year and order value down 9%. Management said demand weakened further as the…
• Revenue Performance and MixImportance 37 · Surprise 6
  Fourth-quarter consolidated revenue was $9.4 billion, including $8.4 billion of home sales revenue on 22,900 closings and $647 million from rental operations; full-year revenue was $33 billion, including $1.2 billion…
• Community Count and InventoryImportance 37 · Surprise 32
  D.R. Horton started 13,100 homes in the September quarter, down 45% sequentially and 10% year over year, and ended the year with 28,200 homes in inventory, down 26% sequentially and 5% year over year. Its year-end…
• Supply Chain and Construction CostsImportance 37 · Surprise 32
  Management cited earlier lumber price increases flowing through the production process, some labor inflation and labor shortages, and additional costs to bring workers to job sites. Fourth-quarter stick-and-brick costs…
• Income Tax Rate ChangesImportance 36 · Surprise 24
  Management forecast a 25.5% income tax rate for fiscal 2027 and approximately 25.5% for the first fiscal quarter ending December 31. The transcript did not quantify a tax-rate change from fiscal 2026 or state a…
• Rental Project ImpairmentsImportance 34 · Surprise 42
  The rental segment recorded a fourth-quarter pretax loss of $25.3 million, including a $91.4 million impairment on nine completed multifamily projects. Management said the impairment primarily reflected lower expected…
• Competition and Market ShareImportance 34 · Surprise 42
  Management said it is seeing more opportunities to talk with private builders about their businesses, with some discussions resulting in D.R. Horton acquiring homebuilding operations while sellers become lot…
• Rental Sales ModelImportance 34 · Surprise 42
  Management described the rental business as merchant-building communities, leasing them up, and then selling the completed projects to investment buyers. It said higher interest rates reduced expected values for some…
• Interest Rate EnvironmentImportance 32 · Surprise 24
  The CFO attributed negative changes in expected values on some completed rental projects to a spike in interest rates during the latest quarter, which led a subset of projects to trigger impairment. Management expects…
• Gross Margin DriversImportance 31 · Surprise 32
  Fourth-quarter home sales gross margin was 19.5%, down 120 basis points sequentially and below management’s expectations. Challenging market conditions limited the ability to offset higher costs with pricing and…
• Developer Deliveries and Lot InventoryImportance 31 · Surprise 24
  Management said third-party developers are adjusting current and future lot deliveries, with D.R. Horton coordinating with partners to avoid excess lots. The company wants to control lot inventory until demand…
• Phoenix Panelization PilotImportance 31 · Surprise 42
  D.R. Horton said it is piloting a partnership with a robotics company in the Phoenix market to explore a panelization process. Management described the pilot as part of its effort to find more affordable ways to build…
• Balance Sheet and LiquidityImportance 25 · Surprise 6
  At September 30, consolidated liquidity was $7.2 billion, comprising $2.1 billion of cash and $5.1 billion of available capacity under credit and mortgage repurchase facilities. Consolidated debt was $6.1 billion,…
• Community Count and AbsorptionsImportance 25 · Surprise 32
  Management said the company’s community count remained significantly higher, allowing its fiscal 2027 plan to accommodate slightly lower absorptions than in fiscal 2026. It said recent years’ plans had been reduced…
• Land Sourcing and Self-DevelopmentImportance 23 · Surprise 24
  Management said its current lot position gives it flexibility to choose between buying developed lots, working with third-party developers, and self-developing. It makes self-development decisions community by…
• Operating Expense TrendsImportance 18 · Surprise 14
  Fourth-quarter homebuilding SG&A expense increased 7% year over year, and SG&A as a percentage of revenue rose 80 basis points to 8.7%. Fiscal-year homebuilding SG&A was 8.9% of revenue, up 60 basis points, while…
• Geographic Market CommentaryImportance 13 · Surprise 6
  Management said smaller markets and secondary MSAs have had less inventory buildup and less competition, and D.R. Horton’s affordable offerings have helped sales there remain more consistent with expectations and…
• Realtor Distribution ChannelImportance 13 · Surprise 6
  Management said the company continues to sell many homes through the realtor community, and its overall use of brokers has remained consistent. In tougher markets, realtors may provide additional incentives or become…
• Geographic Market ExpansionImportance 10 · Surprise 6
  Management said it prioritizes expanding market share in existing markets. It will also remain opportunistic about entering new markets when attractive opportunities arise and the company has the teams and personnel to…
• Market Share and Returns StrategyImportance 10 · Surprise 6
  Management said D.R. Horton has focused for 12 to 13 years on balancing sales pace and growth with margins to drive returns. It described consistent cash generation as a result of that approach and said the company has…

8-K · 2026-10-29

• Revenue Guidance and OutlookImportance 74 · Surprise 68
  D.R. Horton’s initial fiscal 2027 guidance calls for consolidated revenue of $30.0 billion to $32.0 billion. The company expects homebuilding operations to close 79,000 to 84,000 homes, compared with 84,202 closings in…
• Strategic InitiativesImportance 69 · Surprise 64
  Over the five years preceding the release, D.R. Horton entered 30 new markets and seven new states and increased its community count by 65%. The company said these changes followed significant investments in its…
• Dividend IncreaseImportance 64 · Surprise 40
  D.R. Horton paid $513.3 million in cash dividends during fiscal 2026, including $125.0 million in the fourth quarter. After year-end, the company declared a quarterly dividend of $0.50 per share, an 11% increase from…
• Share Repurchase ProgramImportance 53 · Surprise 32
  D.R. Horton repurchased 9.4 million common shares for $1.4 billion during fiscal 2026’s fourth quarter. Full-year repurchases totaled 24.0 million shares for $3.6 billion, reducing shares outstanding by 8% to 271.4…
• Rental Inventory ImpairmentImportance 48 · Surprise 74
  D.R. Horton recorded $91.4 million of inventory impairment charges to cost of sales in its rental segment in fiscal 2026. The charges related to nine multifamily rental projects and were included in fourth-quarter…
• Homebuilding Demand TrendsImportance 43 · Surprise 32
  D.R. Horton said rising mortgage rates, affordability constraints and cautious consumer sentiment pressured new-home demand in the fourth quarter, and it adjusted incentives, pricing and starts by community to align…
• Net Income and ProfitabilityImportance 41 · Surprise 22
  Fourth-quarter net income attributable to D.R. Horton fell 18% to $741.8 million, and diluted EPS fell 12% to $2.67. Fiscal 2026 net income attributable to D.R. Horton fell 19% to $2.889 billion, and diluted EPS fell…
• Home Sales BacklogImportance 37 · Surprise 32
  At September 30, 2026, D.R. Horton’s homebuilding sales backlog was 11,714 homes valued at $4.455 billion, compared with 10,785 homes valued at $4.120 billion a year earlier. Backlog therefore increased about 9% by…
• Liquidity and Debt PositionImportance 31 · Surprise 6
  Year-end total liquidity was $7.2 billion, while cash, cash equivalents and restricted cash totaled $2.115 billion, down from $3.033 billion a year earlier. Notes payable were $6.054 billion at September 30, 2026,…
• Revenue Performance and MixImportance 30 · Surprise 14
  Consolidated revenue for the fourth quarter ended September 30, 2026, declined 3% to $9.371 billion from $9.678 billion, a decrease of $306.5 million. Fiscal 2026 consolidated revenue declined 4% to $33.043 billion…
• Capital ExpendituresImportance 29 · Surprise 22
  Fiscal 2026 expenditures for property and equipment were $160.4 million, up from $137.4 million in fiscal 2025, an increase of approximately 17%. The spending was reported as an investing cash outflow. Net cash used in…

News · 2026-10-29

• Guidance and OutlookImportance 74 · Surprise 68
  D.R. Horton’s initial fiscal 2027 guidance calls for consolidated revenue of $30.0 billion to $32.0 billion. The company projects 79,000 to 84,000 home closings in fiscal 2027. Management also expects lower margins in…
• Dividend IncreaseImportance 50 · Surprise 58
  D.R. Horton increased its quarterly cash dividend by 11% to $0.50 per share. The increase marked the company’s 13th consecutive year of dividend growth. The dividend increase was announced alongside fiscal Q4 net…
• Revenue Performance and MixImportance 30 · Surprise 14
  D.R. Horton reported fiscal Q4 2026 revenue of $9.37 billion, down 3.2% from $9.68 billion a year earlier, a decline of about $310 million. Revenue exceeded the Zacks consensus estimate of $9.04 billion by 3.62%.…
• Net Income and ProfitabilityImportance 29 · Surprise 22
  D.R. Horton reported fiscal Q4 2026 net income of $741.8 million, or $2.67 per diluted share, compared with $3.04 per share a year earlier. Net income declined 18% year over year, and earnings missed the…
• Macroeconomic Consumer PressureImportance 25 · Surprise 32
  D.R. Horton attributed weaker homebuyer demand to rising mortgage rates, affordability constraints, and cautious consumer sentiment. In fiscal Q4 2026, net sales orders fell 7% year over year, and the company closed…

News · 2026-10-28

• Guidance and OutlookImportance 74 · Surprise 68
  D.R. Horton’s initial fiscal 2027 guidance calls for consolidated revenue of $30.0 billion to $32.0 billion. The company projects 79,000 to 84,000 home closings in fiscal 2027. Management also expects lower margins in…
• Revenue Performance and MixImportance 30 · Surprise 14
  D.R. Horton reported fiscal Q4 2026 revenue of $9.37 billion, down 3.2% from $9.68 billion a year earlier, a decline of about $310 million. Revenue exceeded the Zacks consensus estimate of $9.04 billion by 3.62%.…

News · 2026-10-27

• Guidance and OutlookImportance 74 · Surprise 68
  D.R. Horton’s initial fiscal 2027 guidance calls for consolidated revenue of $30.0 billion to $32.0 billion. The company projects 79,000 to 84,000 home closings in fiscal 2027. Management also expects lower margins in…

News · 2026-10-26

• Net Income and ProfitabilityImportance 29 · Surprise 22
  D.R. Horton reported fiscal Q4 2026 net income of $741.8 million, or $2.67 per diluted share, compared with $3.04 per share a year earlier. Net income declined 18% year over year, and earnings missed the…