DHI · Earnings call · 2026Q3T · Full report

Revenue Performance and Mix

HORTON D R INC /DE/ · 2026-10-29 · Importance 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 from rental operations and $817 million from financial services. Forestar reported fourth-quarter revenue of $581 million and fiscal-year revenue of $1.6 billion. Fourth-quarter average closing price was $366,000, flat year over year and up 1% sequentially, while the average net sales order price was $357,000, down 2% year over year and sequentially. Net sales orders fell 7% year over year to 18,600 homes and order value fell 9% to $6.6 billion.

Key facts

• D.R. Horton's fourth-quarter consolidated pretax income was $1 billion on revenues of $9.4 billion, with a pretax profit margin of 10.8%.
• D.R. Horton's fiscal 2026 consolidated pretax income was $3.9 billion on revenues of $33 billion, with a pretax profit margin of 11.8%.
• D.R. Horton's fourth-quarter net income was $742 million, or $2.67 per diluted share, on consolidated revenues of $9.4 billion.
• D.R. Horton's fiscal 2026 net income was $2.9 billion, or $10.11 per diluted share, on revenues of $33 billion.
• D.R. Horton's fourth-quarter home sales revenue was $8.4 billion on 22,900 homes closed.
• D.R. Horton's fourth-quarter average closing price was $366,000, up 1% sequentially and flat year over year.
• D.R. Horton's fourth-quarter average net sales order price was $357,000, down 2% sequentially and year over year.
• D.R. Horton's homebuilding and rental operations provided more than 89,000 families a place to call home in fiscal 2026.