Overview
- D.R. Horton trimmed its 2026 consolidated revenue range to $33.5 billion to $34.5 billion, with the midpoint topping the $33.8 billion analyst view from LSEG.
- Quarterly results weakened year over year, with net income down 20% to $647.9 million, earnings per share at $2.24, and revenue at $7.56 billion versus $7.73 billion a year ago.
- Executive chairman David Auld said affordability pressures and cautious buyers are weighing on demand, and he expects sales incentives to stay elevated through fiscal 2026.
- Builders face higher costs from persistent inflation and U.S. tariffs on key construction materials, which push them toward mortgage-rate buydowns and smaller homes that narrow margins.
- Shares rose in early trading after the outlook, reflecting investor focus on guidance despite softer profit.