Form 10-Q · Quarterly report
D. R. Horton 10-Q, filed Jul 23, 2026
- Filed
- CIK
- 0000882184
- Accession no.
- 0000882184-26-000096
Summary
D.R. Horton reported lower net income and revenue for the nine months ended June 30, 2026, with pre-tax income falling to $2.9 billion from $3.5 billion a year earlier. In the third quarter, net income attributable to D.R. Horton fell 12% to $904.9 million and home sales gross margin narrowed to 20.7%, while net sales orders rose slightly and sales order backlog increased 14%.
Key points
- For the nine months ended June 30, 2026, D.R. Horton closed 61,287 homes and consolidated revenues decreased 4% to $23.7 billion.
- In the third quarter, net income attributable to D.R. Horton decreased 12% to $904.9 million and diluted earnings per share decreased 5% to $3.20.
- Third-quarter home sales gross margin was 20.7% versus 21.8% a year earlier, reflecting lower average sales prices and higher sales incentives, including mortgage interest rate buydowns.
- D.R. Horton expects sales incentives to remain elevated during the remainder of fiscal 2026 and into fiscal 2027.
Written by an AI model from the filing text. It can be incomplete or wrong; the filing on SEC.gov is the record.
From the filing
ITEM 2. MANAGEMENT’S DISCUSSION OVERVIEW During the nine months ended June 30, 2026, we closed 61,287 homes compared to 61,495 homes in the prior year period. Our home sales revenues decreased 3% and our consolidated revenues decreased 4% to $23.7 billion in the nine months ended June 30, 2026 compared to $24.6 billion in the prior year period. Our pre-tax income was $2.9 billion in the nine months ended June 30, 2026 compared to $3.5 billion in the prior year period, and pre-tax operating margin was 12.2% compared to 14.4%. …
An excerpt of the text as filed with the SEC, cut for length.
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