D.R. Horton Q2 Earnings Call Highlights

1 week ago 12

MarketBeat

Tue, April 21, 2026 astatine 9:45 AM CDT 9 min read

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D.R. Horton reported Q2 fiscal 2026 consolidated pre-tax income of $867 million connected $7.6 billion gross (11.5% pre-tax margin) and GAAP EPS of $2.24, portion nett income orders roseate 11% year‑over‑year to 24,992 homes and completed unsold homes fell ~35% YoY.
The company’s location income gross borderline was 20.1% (≈19.7% normalized) with incentives astir 10% of revenue, and absorption tied near‑term borderline outlook to request and owe complaint conditions.
D.R. Horton ended the 4th with $6.0 billion liquidity, repurchased 6 cardinal shares for $904 million successful the 4th and returned astir $4.0 billion to shareholders implicit the past 12 months, portion updating fiscal‑2026 guidance to ~$33.5–34.5 billion gross and 86,000–87,500 location closings.
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D.R. Horton (NYSE:DHI) reported fiscal second-quarter 2026 results that absorption characterized arsenic coagulated contempt what executives said remains a challenging request backdrop driven by affordability constraints and cautious user sentiment.

President and CEO Paul Romanowski said the institution generated consolidated pre-tax income of $867 cardinal connected $7.6 cardinal of revenue, producing an 11.5% pre-tax nett borderline that came successful supra the precocious extremity of its guidance range. Romanowski besides said nett income orders roseate 11% year-over-year, portion the institution reduced unsold completed homes by 35% from a twelvemonth earlier arsenic it balanced “sales pace, pricing, and incentives” to thrust income portion “maximizing returns.”

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Chief Operating Officer Mike Murray said net were $2.24 per diluted share, down from $2.58 a twelvemonth earlier. Net income totaled $648 cardinal connected $7.6 cardinal of consolidated revenue.

Home income gross was $7.0 cardinal connected 19,486 homes closed, compared with $7.2 cardinal connected 19,276 closings successful the prior-year quarter. Murray said the mean closing terms was $361,600, down 1% sequentially and down 3% year-over-year, and emphasized the company’s affordability positioning. He said D.R. Horton’s mean closed-home terms is astir $160,000 beneath the U.S. mean new-home price, and that its median location terms is astir $70,000 beneath the median terms of an existing home.

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