DHI · 8-K · 20261029PR000119
Rental Inventory Impairment
HORTON D R INC /DE/ · 2026-10-29 · Importance 48 · Surprise 74 · No source text
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 rental results. The rental segment reported a fourth-quarter pre-tax loss of $25.3 million on $647.1 million of revenue, compared with $80.5 million of pre-tax income in the prior-year quarter. For the full year, rental pre-tax income was $18.2 million, including the impairment charges.
Key facts
- Fiscal 2026 rental revenues were $1.2 billion with pre-tax income of $18.2 million, including $91.4 million of inventory impairment charges to cost of sales. source
- Fiscal 2026 fourth-quarter results included $91.4 million of inventory impairment charges to cost of sales in the rental segment. source
- The $91.4 million fourth-quarter rental inventory impairment charge related to nine multi-family rental projects. source
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| margin | negative | realized | -7.6% | Fiscal 2026 rental revenues were $1.2 billion with pre-tax income of $18.2 million, including $91.4 million of inventory impairment… |
| operating_income | negative | realized | -1.0% | Fiscal 2026 rental revenues were $1.2 billion with pre-tax income of $18.2 million, including $91.4 million of inventory impairment… |
| assets | negative | realized | — | Fiscal 2026 rental revenues were $1.2 billion with pre-tax income of $18.2 million, including $91.4 million of inventory impairment… |