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DR Horton (DHI)
NYSE:DHI
Earnings Data
Report Date
Apr 21, 2026Before Open (Confirmed)
Period Ending
2026 (Q2)Consensus EPS Forecast
2.14Last Year’s EPS
2.58Same Quarter Last Year
Based on 13 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Neutral
Balanced / Neutral. The call presented several notable operational and financial strengths — strong cash generation, disciplined capital returns, robust lot supply, improving cycle times, and a 3% increase in net sales orders — which underscore the company's resilient platform. Offsetting these positives were meaningful near-term headwinds: EPS declined ~22% YoY, home closings and home sales revenues were down YoY, and margins are under pressure due to elevated incentives (with Q2 gross margin guidance at 19%–19.5%). Management emphasized discipline, liquidity ($6.6B), and targeted growth, but elevated incentives and lower average prices create margin risk in the near term. Overall, highlights and lowlights are relatively balanced.Company Guidance
Strong Profitability and Pretax Margin
Consolidated pretax income of $798 million on $6.9 billion of revenues with a consolidated pretax profit margin of 11.6% for Q1 FY2026.
Solid Cash Generation and Capital Returns
Generated $3.6 billion of cash from operations over the trailing twelve months and consolidated cash provided by operations of $854 million in Q1. Returned $4.4 billion to shareholders over the past 12 months via repurchases and dividends; repurchased 4.4 million shares for $670 million in the quarter and paid $132 million in dividends.
Net Sales Orders Growth
Net sales orders increased 3% year-over-year to 18,300 homes while order value remained unchanged at $6.7 billion, demonstrating resilient demand and the ability to balance pace, price, and incentives.
Operational Efficiency Improvements
Median cycle time from home start to home close decreased by two weeks year-over-year, enabling faster turns and lower inventory duration; completed unsold homes declined by ~2,000 sequentially.
Expanded Market Footprint and Community Growth
Average active selling communities up 12% year-over-year (and up 2% sequentially), and starts in December were up 27% sequentially (18,500), positioning the company for growth into the spring selling season.
Strong Return Metrics
Trailing twelve months homebuilding pretax return on inventory was 18.6%; consolidated returns on equity and assets were 13.7% and 9.4% respectively, with ROA ranking in the top 20% of S&P 500 companies over 3/5/10-year periods.
Robust Lot Supply and Land Strategy
Homebuilding lot position of ~590,500 lots (25% owned, 75% controlled) and $2.0 billion invested in lots, land and development in Q1 ($1.3B finished lots, $610M development, $80M acquisition), supporting future production and capital efficiency.
Strong Financial Services & Forestar Performance
Financial services pretax income of $58 million on $185 million of revenues (31.4% pretax margin). Forestar reported Q1 revenues of $273 million on 1,944 lots with pretax income of $21 million and a 101,000 owned & controlled lot position (62% of Forestar owned lots under contract/ROFO to D.R. Horton).
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
DHI Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Jan 20, 2026 | $155.96 | $153.19 | -1.78% |
Oct 28, 2025 | $158.37 | $153.28 | -3.22% |
Jul 22, 2025 | $130.48 | $152.63 | +16.98% |
Apr 17, 2025 | $116.50 | $120.18 | +3.16% |
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.
FAQ
When does DR Horton (DHI) report earnings?
DR Horton (DHI) is schdueled to report earning on Apr 21, 2026, Before Open (Confirmed).
What is DR Horton (DHI) earnings time?
DR Horton (DHI) earnings time is at Apr 21, 2026, Before Open (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is DHI EPS forecast?
DHI EPS forecast for the fiscal quarter 2026 (Q2) is 2.14.
