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Dec 31, 2025
D.R. Horton Q1 2026 Earnings Report
D.R. Horton reported first quarter results with $6.89 billion in revenue and $594.8 million in net income.
Key Takeaways
D.R. Horton posted solid Q1 FY26 results, exceeding guidance on revenue and closings. While earnings and net income declined year-over-year, the company generated strong cash flow and increased net sales orders.
Revenue reached $6.89 billion, surpassing the high end of guidance.
Net income was $594.8 million with EPS of $2.03.
Net sales orders grew to 18,300 homes valued at $6.66 billion.
Cash from operations totaled $854 million in the quarter.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
D.R. Horton reaffirmed its fiscal 2026 guidance, expecting steady performance with focus on maintaining affordability and flexible operations.
Positive Outlook
- Reaffirmed FY26 revenue guidance of $33.5B to $35.0B
- Plans to close 86,000 to 88,000 homes
- Projected $3B+ in operating cash flow
- Continued capital returns with $2.5B in buybacks
- Strong liquidity and low leverage enhance flexibility
Challenges Ahead
- Affordability constraints impacting demand
- Elevated sales incentives expected to continue
- Mortgage interest rates creating headwinds
- Cautious consumer sentiment persists
- Inventory of unsold homes remains high with 7,300 completed units
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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