EarningsQ3 2026 Earnings Report
MX:DHI Q3 2026 EPS Results
Actual EPS$57.83
Consensus EPS$54.64
Beat/MissBeat by +$3.20
One Year Ago EPS$60.73
MX:DHI Q3 2026 Revenue Results
Actual Revenue$166.76B
Expected Revenue$164.40B
Beat/MissBeat by +$2.37B
YoY Revenue Growth+0.02%
Earnings Announcement Details
QuarterQ3 2026
Date07/21/2026
TimeBefore Open
Conference CallTuesday, July 21, 2026
MX:DHI Upcoming Earnings
DR Horton's next earnings date is estimated for October 29, 2026, based on past reporting schedules.
Q3 2026 Earnings Call Audio
MX:DHI Q3 2026 Earnings Call
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Q3 2026 Earnings Slide Deck
Q3 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call conveyed operational strength—notably margin outperformance, strong cash generation, disciplined capital returns, and cost reductions—while also acknowledging demand softness, a higher cancellation rate, elevated incentives, rising SG&A from footprint expansion, and some lot-cost inflation. Management emphasized nimble, returns-focused operating decisions (trimming full-year deliveries, holding margin) and maintained robust liquidity and buyback/dividend plans. Overall, positive execution on profitability and capital allocation is tempered by near-term demand and cost pressures.Company Guidance
Strong Profitability and Margins
Consolidated pre-tax income of $1.2 billion on $9.2 billion of revenues, delivering a pre-tax profit margin of 13.3%. Home sales gross margin of 20.7%, above the high end of guidance.
Solid Earnings and Cash Generation
Earnings per diluted share of $3.20; generated $3.4 billion of cash from operations over the past 12 months and returned all of it to shareholders via repurchases and dividends.
Operational Scale and Returns
Closed 23,983 homes (at the high end of guidance). Trailing 12-month home building pre-tax return on inventory 17%; consolidated ROE 12.8% and ROA 8.5% (ROA ranks in top 20% of S&P 500 over multi-year periods).
Disciplined Capital Allocation and Shareholder Returns
Repurchased 4.2 million shares for $616 million (reducing share count ~6% YoY) and paid $127 million of cash dividends ($0.45 per share). Board declared same quarterly dividend. Maintains guidance for ~$2.5 billion in buybacks and ~$500 million of dividends for fiscal year.
Balanced Land / Lot Position and Forestar Partnership
Homebuilding lot position ~570,000 lots (22% owned, 78% controlled). Forestar reported $407 million revenue and $49 million pre-tax income; 66% of Forestar's owned lots under contract/ROFO to D.R. Horton, supporting capital-efficient lot supply.
Cost Improvements in Construction
Stick and brick costs down 2% sequentially and 5% year-over-year, with framing being the largest contributor to savings—supporting gross margin stability.
Strong Liquidity and Low Leverage
Consolidated liquidity of $6.1 billion (including $2.1 billion cash and $4.0 billion available credit), total debt $7.1 billion, consolidated leverage 23% with a long-term target around 20%.
MX:DHI Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed