DHI · Earnings call · 2026Q3T · Full report

Revenue Guidance and Outlook

HORTON D R INC /DE/ · 2026-10-29 · Importance 73 · Surprise 50 · In source text

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. Management expects approximately $3.5 billion of operating cash flow and plans to repurchase approximately $3 billion of common stock, in addition to about $500 million of dividends. For the first fiscal quarter, it expects revenues of $5.9 billion to $6.4 billion, homebuilding closings of 15,500 to 16,500, home sales gross margin of 18% to 18.5%, and consolidated pretax margin of 7% to 8%.

Key facts

• D.R. Horton expects fiscal 2027 consolidated revenues of approximately $30 billion to $32 billion and homebuilding closings of 79,000 to 84,000 homes.
• For the fiscal quarter ending December 31, D.R. Horton expects consolidated revenues of $5.9 billion to $6.4 billion and homebuilding closings of 15,500 to 16,500 homes.
• D.R. Horton expects first-quarter home sales gross margin of 18% to 18.5% and consolidated pretax profit margin of 7% to 8%.
• D.R. Horton said its expected revenue decline is predominantly driven by a lower expected average selling price and that it does not forecast ASP improvement until it appears in results.
• D.R. Horton will adjust its fiscal 2027 guide as market conditions evolve during the year.
• In each of the last two years, D.R. Horton lowered its guide because market conditions did not support the planned volume from a return perspective.
• D.R. Horton planned to report first-quarter results on Tuesday, January 19.

Impact estimates