D.R. Horton Q3 Earnings Call Highlights

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MarketBeat

Tue, July 21, 2026 astatine 9:06 AM CDT 7 min read

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D.R. Horton (NYSE:DHI) reported little third-quarter net from a twelvemonth earlier arsenic affordability pressures and cautious user sentiment continued to measurement connected new-home demand, though the institution said it maintained margins supra its anterior expectations done outgo controls and disciplined pricing.

The Arlington, Texas-based homebuilder reported fiscal third-quarter net of $3.20 per diluted share, down from $3.36 per stock successful the prior-year quarter. Net income was $905 cardinal connected consolidated gross of $9.2 billion. Consolidated pre-tax income totaled $1.2 billion, resulting successful a pre-tax borderline of 13.3%, according to President and Chief Executive Officer Paul Romanowski.

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D.R. Horton closed 23,983 homes successful the quarter, astatine the precocious extremity of its guidance range. Home income gross roseate to $8.7 cardinal from $8.6 cardinal a twelvemonth earlier, portion the fig of homes closed accrued from 23,160 successful the prior-year period. The mean closing terms was $362,000, level sequentially and down 2% twelvemonth implicit year.

Chief Operating Officer Mike Murray said that mean closing terms was astir $155,000, oregon 30%, beneath the mean terms of caller homes successful the U.S., reflecting the company's continued absorption connected affordability. Romanowski said 65% of the company's owe closings during the 4th were to first-time buyers.

Orders Flat arsenic Cancellations Rise

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D.R. Horton Is Defying the Housing Gloom

Net income bid worth totaled $8.4 cardinal connected 23,084 homes sold, some fundamentally level with the year-earlier quarter, Chief Financial Officer Bill Wheat said. The cancellation complaint accrued to 20%, compared with 17% successful the prior-year play and 16% successful the erstwhile quarter, though absorption said the complaint remained wrong the company's mean humanities range.

Romanowski said affordability constraints and cautious user sentiment continued to impact demand. In effect to an expert question astir whether request was stabilizing, helium said income were "relatively successful enactment with mean seasonality" but softened aft the company's April net call. He said D.R. Horton inactive sees "plenty of buyers" successful its income offices, but buyers request much assurance successful the broader system and successful their quality to implicit a purchase.

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