D.R. Horton earnings date and guidance
D.R. Horton’s next results are expected on October 29, 2026. Watch whether softer demand still lets D.R. Horton deliver homes, protect profit, and generate enough cash.
What has D.R. Horton guided for fiscal 2026?
DHI’s weighted price can reach $212.12 by October 2029 if margins recover, inventory turns faster and cash supports the capital plan. July guidance calls for fiscal 2026 revenue of $32.5–33.0 billion and 83,800–84,300 homebuilding closings. Fourth-quarter home-sales gross margin is guided at 20.5%–21%. Management also expects at least $3,000 million of fiscal 2026 operating cash. On September 15, it raised expected repurchases to at least $3.25 billion; dividend-payment guidance is $500 million.
| The period guided | Low | High | The date it was given | |
|---|---|---|---|---|
| Consolidated revenues | Year to Sep 2026 | 32,500.0 | 33,000.0 | Jul 21, 2026 |
| Homes closed by homebuilding operations | Year to Sep 2026 | 83,800 | 84,300 | Jul 21, 2026 |
| Income tax rate | Year to Sep 2026 | 25.0% | 25.0% | Jul 21, 2026 |
| Consolidated cash flow provided by operations | Year to Sep 2026 | 3,000.0 | Jul 21, 2026 | |
| Share repurchases | Year to Sep 2026 | 3,250.0 | Sep 15, 2026 | |
| Dividend payments | Year to Sep 2026 | 500.0 | 500.0 | Jul 21, 2026 |
What this means. The table says the company plans to repurchase 3,250 million United States dollars of shares, but the note says approximately 2,500 million United States dollars, so the figures do not match.
Did D.R. Horton keep its past promises?
Management’s forecast record is mixed. On October 29, 2024, it predicted 90,000–92,000 home closings for fiscal 2025 and approximately US$2.4 billion of repurchases. Horton closed 84,863 homes for fiscal 2025, below the forecast range, while repurchases exceeded the original plan. As of October 19, 2026, Horton’s latest fiscal 2026 repurchase expectation was at least US$3.25 billion.
What are D.R. Horton’s last eight quarters of revenue and profit?
Over the last eight reported quarters through June 2026, Horton beat estimates five times. That record shows recent execution, but it cannot make customers close on homes. October’s report must put revenue, total profit, margins and cash beside EPS.
| Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | 9,227.1 | 7,558.1 | 6,886.9 | 9,677.8 | 9,225.7 | 7,734.0 | 7,613.0 | 10,002.6 |
| Gross margin | 23.3% | 22.5% | 23.2% | 21.7% | 23.9% | 24.6% | 25.1% | 25.5% |
| Operating income | 1,155.0 | 800.0 | 729.6 | 1,125.8 | 1,264.9 | 1,001.5 | 1,032.1 | 1,594.1 |
| Net income | 904.9 | 647.9 | 594.8 | 905.3 | 1,024.6 | 810.4 | 844.9 | 1,283.4 |
| EPS, diluted | 3.20 | 2.24 | 2.03 | 3.04 | 3.36 | 2.58 | 2.61 | 3.92 |
| Cash from operations | 797.6 | 182.4 | 122.5 | 2,278.5 | 955.9 | 179.9 | -166.6 | 1,836.9 |
What this means. Revenue and profit include Financial Services, but cash from operations leaves it out, so these numbers do not cover exactly the same parts of the company.
What should investors watch in D.R. Horton’s next results?
September 2026 results, due before the market opens on October 29, will test the reduced closing and revenue outlook against margins, earnings and cash generation. Orders per community, cancellations, incentives and realized margins will show whether demand improves. Fiscal 2027 will carry a full year without the energy-efficient-home credit for homes acquired after June 30, 2026. Buybacks, dividends, land spending and debt reduction compete for operating cash.