Citable filing context
DHI's research view summarizes recent SEC filing context, starting with earnings from Jul 21, 2026.
| Filed | Item | Context |
|---|---|---|
| Jul 21, 2026 | earnings | D.R. Horton reported fiscal 2026 third quarter net income of $904.9 million and declared a $0.45 dividend. |
| May 12, 2026 | material_agreement | DHI Mortgage amended its master repurchase agreement to increase the commitment to $1.925 billion and extend maturity. |
| Apr 21, 2026 | earnings | D.R. Horton reported fiscal 2026 second quarter net income of $647.9 million and declared a $0.45 dividend. |
| Jul 21, 2026 | Guidance: cash_flow_from_operations | 3000.00 to not reported |
| Jul 21, 2026 | Guidance: dividend_payments | not reported to not reported |
| Jul 21, 2026 | Guidance: homes_closed | 83800.00 to 84300.00 |
| Jul 23, 2026 | mda_quarterly | D.R. Horton’s performance for the nine months ended June 30, 2026, reflects a challenging housing environment characterized by affordability constraints and cautious consumer sentiment. Consolidated revenues declined 4% to $23.7 billion, while net income fell 20% to $2.1 billion compared to the prior year period. Homebuilding, the company’s core segment, saw a 3% revenue decrease to $22.3 billion, driven by a 2% decline in average closing price to $362,900. While home closings remained flat at 61,287, gross margins contracted to 20.4% from 22.1%, largely due to elevated sales incentives and mortgage interest rate buydowns used to support affordability. The company maintains a strong liquidity position, with $2.1 billion in total cash and significant borrowing capacity across its homebuilding, rental, and financial services segments. D.R. Horton continues to prioritize a "land-light" strategy, with 78% of its 568,500 total lots controlled through purchase contracts. Forestar, the company’s majority-owned lot developer, remains a strategic pillar, providing a steady supply of finished lots. Despite current headwinds, management expects sales incentives to remain elevated through fiscal 2027. The company continues to actively manage its inventory, pricing, and construction starts to optimize returns while navigating ongoing macroeconomic pressures and interest rate volatility. |
| Apr 23, 2026 | mda_quarterly | Consolidated revenues for the six months ended March 31, 2026, decreased 6% to $14.4 billion, with net income falling 25% to $1.3 billion and diluted EPS dropping to $4.27. Homebuilding revenues declined 5% to $13.6 billion, as average closing prices fell 3% to $363,500 and closing volume decreased 3%. Home sales gross margins contracted to 20.3% from 22.3%, reflecting higher sales incentives and mortgage interest rate buydowns used to offset affordability constraints and cautious consumer sentiment. Conversely, net sales orders increased 7% to 43,292 homes. Regional performance was mixed, with growth in the North region, specifically Pittsburgh and Southern Virginia, offsetting declines in the Northwest (Seattle and Salt Lake City) and Southwest (Las Vegas and Southern California). The rental segment's revenues fell 28% due to lower multi-family unit closings, while Forestar revenues rose 8%. DHI maintains a debt-to-total capital ratio of 21.7% and returned significant capital through $1.6 billion in common stock repurchases and quarterly dividends of $0.45 per share. To manage risk and capital efficiency, 77% of the homebuilding lot portfolio is controlled through purchase contracts rather than owned. |
Source: SEC EDGAR filing text and events; period Jul 21, 2026; filed Jul 21, 2026.
DHI company research is available with Aerarium Pro (CAD $10/mo). The five showcase tickers (TSLA, NVDA, AAPL, AMZN, PLTR) and the macro dashboard stay free. Already a subscriber? Sign in to pick up where you left off.