--- title: "D.R. Horton | 8-K: FY2026 Q1 Revenue Beats Estimate at USD 6.887 B" type: "News" locale: "en" url: "https://longbridge.com/en/news/273112849.md" datetime: "2026-01-20T16:36:10.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/273112849.md) - [en](https://longbridge.com/en/news/273112849.md) - [zh-HK](https://longbridge.com/zh-HK/news/273112849.md) --- > Supported Languages: [简体中文](https://longbridge.com/zh-CN/news/273112849.md) | [繁體中文](https://longbridge.com/zh-HK/news/273112849.md) # D.R. Horton | 8-K: FY2026 Q1 Revenue Beats Estimate at USD 6.887 B Revenue: As of FY2026 Q1, the actual value is USD 6.887 B, beating the estimate of USD 6.65 B. EPS: As of FY2026 Q1, the actual value is USD 2.03, beating the estimate of USD 1.9174. #### Consolidated Financial Performance - **Net Income Attributable to D.R. Horton**: Net income attributable to D.R. Horton, Inc. decreased 30% to $594.8 million for the first fiscal quarter ended December 31, 2025, compared to $844.9 million in the prior year period. - **Consolidated Pre-Tax Income**: Consolidated pre-tax income totaled $798.1 million, down from $1,109.9 million in the prior year, resulting in a pre-tax profit margin of 11.6%. - **Consolidated Revenues**: Consolidated revenues were $6.9 billion, a decrease from $7,613.0 million in the prior year. - **Cash Flow from Operations**: Cash provided by operations totaled $854.0 million, an increase from $646.7 million in the prior year period. - **Debt to Total Capital**: The Company’s debt to total capital ratio was 18.8% as of December 31, 2025. - **Book Value Per Share**: Book value per share increased 5% to $82.60. - **Return on Equity (ROE)**: For the trailing twelve months ended December 31, 2025, the Company’s ROE was 13.7%. - **Return on Assets (ROA)**: For the trailing twelve months ended December 31, 2025, the Company’s ROA was 9.4%. - **Selling, General and Administrative Expense**: This expense was $865.1 million, down from $878.1 million in the prior year period. - **Other (Income) Expense**: Other (income) expense was -$68.5 million, compared to -$77.8 million in the prior year period. - **Income Tax Expense**: Income tax expense was $196.7 million, down from $258.0 million in the prior year period. - **Net Income Attributable to Noncontrolling Interests**: This was $6.6 million, compared to $7.0 million in the prior year period. - **Interest Charged to Cost of Sales**: Interest charged to cost of sales was $31.3 million, up from $30.3 million in the prior year period. - **Depreciation and Amortization**: Depreciation and amortization was $27.7 million, up from $24.1 million in the prior year period. - **Interest Incurred**: Interest incurred was $56.5 million, up from $46.7 million in the prior year period. #### Homebuilding Segment - **Revenue**: Homebuilding revenue for the first quarter decreased 9% to $6.5 billion. - **Homes Closed**: Homes closed decreased 7% to 17,818 homes. - **Pre-Tax Income**: Homebuilding pre-tax income decreased 30% to $708.1 million, with a pre-tax profit margin of 10.8%. - **Net Sales Orders**: Net sales orders increased 3% to 18,300 homes, with an order value of $6.7 billion. - **Cancellation Rate**: The cancellation rate was 18%, consistent with the prior year quarter. - **Homes in Inventory**: At quarter end, the Company had 30,400 homes in inventory, with 20,000 unsold. - **Homebuilding Return on Inventory (ROI)**: The homebuilding ROI for the trailing twelve months ended December 31, 2025, was 18.6%. - **Land and Lot Position**: As of December 31, 2025, the Company owned 145,500 lots and controlled 445,000 lots through purchase contracts, totaling 590,500 lots. - **Segment Cash Flow from Operations**: Cash provided by operating activities for homebuilding was $497.7 million. #### Non-Homebuilding Segments - **Rental Operations**: - **Revenues**: Generated $109.5 million from the sale of 397 single-family rental homes. - **Pre-Tax Income**: Reported $0.2 million of pre-tax income, resulting in a pre-tax profit margin of 0.2%. - **Cash Flow from Operations**: Cash used in operating activities for rental operations was -$197.0 million. - **Forestar**: - **Lots Sold**: Sold 1,944 lots. - **Revenue**: Generated $273.0 million of revenue. - **Pre-Tax Income**: Reported $20.8 million of pre-tax income, with a pre-tax profit margin of 7.6%. - **Cash Flow from Operations**: Cash used in operating activities for Forestar was -$157.0 million. - **Financial Services**: - **Revenues**: Financial services revenues were $184.6 million. - **Pre-Tax Income**: Reported pre-tax income of $58.0 million, resulting in a pre-tax profit margin of 31.4%. - **Cash Flow from Operations**: Cash provided by operating activities for financial services was $731.5 million. #### Shareholder Returns - **Share Repurchases**: D.R. Horton, Inc. repurchased 4.4 million shares of common stock for $669.7 million during the first fiscal quarter of 2026. - **Dividends Paid**: The Company paid cash dividends of $131.5 million. - **Quarterly Dividend Declared**: A quarterly cash dividend of $0.45 per share was declared, payable on February 12, 2026. #### Outlook / Guidance D.R. Horton, Inc. reiterates its fiscal 2026 guidance, projecting consolidated revenues between $33.5 billion and $35.0 billion and home closings of 86,000 to 88,000 homes. The Company also anticipates consolidated cash flow from operations of at least $3.0 billion, approximately $2.5 billion in share repurchases, and around $500 million in dividend payments. An income tax rate of approximately 24.5% is expected. ### Related Stocks - [D.R. Horton, Inc. 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