HORTON D R INC /DE/ — Form 8-K
Filed July 21, 2026 · analyzed by the 8-K Agent
8-K
▼ Likely negative
significance 42/100
What the filing says
D.R. Horton reported Q3 FY2026 net income of $904.9M ($3.20 diluted EPS), down 12% and 5% respectively YoY, on revenues of $9.2B. Homes closed increased 4% to 23,983 units, but net sales orders were flat at 23,084 homes ($8.4B value). Cancellation rate rose to 20% from 17% YoY. For full FY2026, company lowered consolidated revenue guidance to $32.5–$33.0B (from prior implicit guidance) and homes closed to 83,800–84,300 (down from prior range). Company repurchased 4.2M shares for $615.7M and declared $0.45/share dividend.
Why this rating
Earnings decline, elevated cancellations, and downward guidance revision signal demand softness. At $39B market cap, ~$300M revenue miss is modest (~0.8%). Real risk: rising incentives and consumer hesitation may persist, but balance sheet remains strong ($6.1B liquidity, 23% debt/cap). Not trajectory-altering yet.
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