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Mar 31, 2025
D.R. Horton Q2 2025 Earnings Report
D.R. Horton reported lower earnings and revenue in Q2 2025 amid slower home sales and affordability concerns.
Key Takeaways
D.R. Horton saw a 27% decline in EPS and 15% drop in revenue as home closings and sales orders fell. Despite this, the company maintained strong margins and returned capital to shareholders.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
D.R. Horton reaffirmed its full-year outlook but noted a slower-than-expected spring season, impacting near-term performance.
Positive Outlook
- Maintained guidance for FY2025 revenue between $33.3B and $34.8B
- Planned home closings of 85,000 to 87,000
- Projected free cash flow from operations above $3.0B
- Authorized $5.0B new share repurchase program
- Expecting dividend payments to total approximately $500M
Challenges Ahead
- Spring selling season began slower than expected
- Net sales orders down 15% YoY
- Homebuilding revenue declined 15% YoY
- Cancellation rate increased to 16%
- Sales backlog dropped 21% YoY in homes and 22% in value
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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