The earnings call presented a mixed outlook with several positive achievements, such as strong earnings and shareholder returns, counterbalanced by challenges like decreased home sales revenue and increased sales incentives. The company's proactive management of its community count and investments indicates a strategically adaptive approach to market conditions.

Company Guidance -

Q4 2025

During the third quarter of fiscal 2025, D.R. Horton reported earnings of $3.36 per diluted share, with consolidated pre-tax income at $1.4 billion on revenues of $9.2 billion, yielding a pre-tax profit margin of 14.7%. The company closed 23,160 homes, achieving a home sales gross margin of 21.8%, which exceeded expectations. Despite facing ongoing affordability constraints and cautious consumer sentiment, D.R. Horton's net sales orders remained flat year-over-year and increased 3% sequentially. The company's cancellation rate was 17%, stable compared to historical ranges. Over the trailing twelve months, D.R. Horton generated $2.9 billion in cash from operations and returned $4.6 billion to shareholders. The company maintained a strong balance sheet with $5.5 billion in liquidity and a leverage ratio of 23.2%. Looking forward, D.R. Horton expects fourth-quarter revenues between $9.1 billion to $9.6 billion, with a home sales gross margin ranging from 21% to 21.5% and a consolidated pre-tax profit margin of 13.6% to 14.1%. The company plans to close between 23,500 to 24,000 homes in the fourth quarter and aims to repurchase $4.2 billion to $4.4 billion of common stock in fiscal 2025.

Solid Earnings for Third Quarter 2025

D.R. Horton reported earnings of $3.36 per diluted share, with a consolidated pre-tax income of $1.4 billion on $9.2 billion in revenues. The pre-tax profit margin stood at 14.7%.

Strong Cash Flow and Shareholder Returns

Generated $2.9 billion in cash from operations over the past twelve months and returned $4.6 billion to shareholders through repurchases and dividends.

Increased Community Count and Market Expansion

The average number of active selling communities increased by 4% sequentially and 12% year over year, with market count up 4% to 126 markets in 36 states.

Successful Homebuilding and Rental Operations

Homebuilding operations closed 23,160 homes, and rental operations generated $55 million of pre-tax income on $381 million of revenues from the sale of single-family and multifamily rental units.

DR Horton (DHI) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

Daily Earnings Calendar >

DHI Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Oct 28, 2025	2025 (Q4)	3.26 / -	3.92	―	―	―
Jul 22, 2025	2025 (Q3)	2.94 / 3.36	4.1	-18.05% (-0.74)
Apr 17, 2025	2025 (Q2)	2.63 / 2.58	3.52	-26.70% (-0.94)
Jan 21, 2025	2025 (Q1)	2.35 / 2.61	2.82	-7.45% (-0.21)
Oct 29, 2024	2024 (Q4)	4.17 / 3.92	4.45	-11.91% (-0.53)
Jul 18, 2024	2024 (Q3)	3.75 / 4.10	3.9	5.13% (+0.20)
Apr 18, 2024	2024 (Q2)	3.07 / 3.52	2.73	28.94% (+0.79)
Jan 23, 2024	2024 (Q1)	2.87 / 2.82	2.76	2.17% (+0.06)
Nov 07, 2023	2023 (Q4)	3.94 / 4.45	4.67	-4.71% (-0.22)
Jul 20, 2023	2023 (Q3)	2.82 / 3.90	4.67	-16.49% (-0.77)

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

DHI Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Jul 22, 2025	$130.88	$153.10	+16.98%
Apr 17, 2025	$116.86	$120.55	+3.16%
Jan 21, 2025	$146.37	$142.45	-2.68%
Oct 29, 2024	$178.38	$165.47	-7.24%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.