DHI

EX-99.1

2 a9302026exhibit991.htm

EX-99.1

Document

Exhibit 99.1

D.R. HORTON, INC., AMERICA’S BUILDER, REPORTS FOURTH QUARTER AND FISCAL 2026 EARNINGS AND INCREASES QUARTERLY DIVIDEND TO $0.50 PER SHARE

ARLINGTON, Texas (Business Wire) - October 29, 2026 - D.R. Horton, Inc. (NYSE:DHI), America’s Builder, today reported fourth quarter and fiscal 2026 results. All comparisons in this release are to the respective prior year period, unless noted otherwise.

Fiscal 2026 Fourth Quarter Highlights

•Net income attributable to D.R. Horton of $741.8 million or $2.67 per diluted share

•Consolidated pre-tax income of $1.0 billion, with a pre-tax profit margin of 10.8%

•Consolidated revenues of $9.4 billion

•Home sales revenues of $8.4 billion on 22,915 homes closed

Fiscal 2026 Highlights

•Net income attributable to D.R. Horton of $2.9 billion or $10.11 per diluted share

•Consolidated pre-tax income of $3.9 billion, with a pre-tax profit margin of 11.8%

•Consolidated revenues of $33.0 billion

•Home sales revenues of $30.6 billion on 84,202 homes closed

•Cash provided by operations totaled $3.5 billion

•Debt to total capital of 20.8%

•Book value per share increased 4% to $85.14

•Repurchased 24.0 million shares of common stock for $3.6 billion, reducing outstanding share count by 8%, and paid cash dividends of $513.3 million

•Return on equity was 12.2% and return on assets was 8.2%

Consolidated Results

Three months ended September 30, 2026

Net income attributable to D.R. Horton for its fourth fiscal quarter decreased 18% to $741.8 million, and earnings per diluted share decreased 12% to $2.67. Consolidated pre-tax income was $1.0 billion on revenues of $9.4 billion, resulting in a pre-tax profit margin of 10.8%. Results for the quarter include $91.4 million of inventory impairment charges to cost of sales in the Company’s rental segment.

Fiscal year ended September 30, 2026

For the fiscal year, net income attributable to D.R. Horton decreased 19% to $2.9 billion, and earnings per diluted share decreased 13% to $10.11. Consolidated pre-tax income was $3.9 billion on revenues of $33.0 billion, resulting in a pre-tax profit margin of 11.8%.

Cash provided by operations was $3.5 billion in fiscal 2026 and consisted primarily of $2.7 billion, $289.5 million, $271.1 million and $148.6 million of cash provided by the homebuilding, Forestar, financial services and rental segments. Total liquidity at year end was $7.2 billion. The Company repaid $600 million principal amount of its 1.3% homebuilding senior notes at maturity in October 2026 and has no other senior note maturities in fiscal 2027. At September 30, 2026, the Company's debt to total capital ratio was 20.8%. Debt to total capital ratio consists of notes payable divided by stockholders' equity plus notes payable.

In fiscal 2026, the Company's return on equity (ROE) was 12.2%, and return on assets (ROA) was 8.2%. ROE is calculated as net income attributable to D.R. Horton for the year divided by average stockholders' equity, where average stockholders' equity is the sum of ending stockholders' equity balances of the trailing five quarters divided by five. ROA is calculated as net income attributable to D.R. Horton for the year divided by average consolidated assets, where average consolidated assets is the sum of total asset balances for the trailing five quarters divided by five.

David Auld, Executive Chairman, said:

"The D.R. Horton team completed our 25th consecutive year as America's largest builder by volume, and we are proud to have provided homeownership to more than 84,000 individuals and families during fiscal 2026, including approximately 43,500 first-time homebuyers. Consolidated pre-tax income for the year totaled $3.9 billion on $33.0 billion of revenues, resulting in a pre-tax profit margin of 11.8%. We generated $3.5 billion of cash from operations in fiscal 2026 and returned $4.1 billion to shareholders through repurchases and dividends while maintaining a strong financial position.

"Housing market conditions became more challenging during the fourth quarter as rising mortgage rates, affordability constraints and cautious consumer sentiment continued to pressure new home demand. Our experienced operators responded with discipline by adjusting incentives, pricing and starts on a community-by-community basis to align our inventory levels with current demand. We expect incentives to remain elevated in fiscal 2027, the extent of which will depend on market conditions throughout the year.

"Our strong liquidity, low leverage, local market expertise and national scale provide us with significant financial and operational flexibility to adapt to changing market conditions and deliver attractive shareholder returns. Over the past 5 years, we have made significant investments in our housing platform as we entered 30 new markets and 7 new states and increased our community count by 65%. Over that same period, book value per share grew at a

EX-99.1

2 a6302026exhibit991.htm

EX-99.1

Document

Exhibit 99.1

D.R. HORTON, INC., AMERICA’S BUILDER, REPORTS FISCAL 2026 THIRD QUARTER EARNINGS AND DECLARES QUARTERLY DIVIDEND OF $0.45 PER SHARE

ARLINGTON, Texas (Business Wire) - July 21, 2026 - D.R. Horton, Inc. (NYSE:DHI), America’s Builder, today reported its third fiscal quarter results. All comparisons in this release are to the respective prior year period, unless noted otherwise.

Fiscal 2026 Third Quarter Highlights

As of or for the quarter ended June 30, 2026

•Net income attributable to D.R. Horton of $904.9 million or $3.20 per diluted share

•Consolidated pre-tax income of $1.2 billion, with a pre-tax profit margin of 13.3%

•Consolidated revenues of $9.2 billion

•Home sales revenues increased 1% to $8.7 billion and homes closed increased 4% to 23,983 homes

•Net sales orders of 23,084 homes with an order value of $8.4 billion

•Book value per share increased 5% to $84.85

•Repurchased 4.2 million shares of common stock for $615.7 million and paid cash dividends of $127.1 million

Consolidated Results

Three months ended June 30, 2026

Net income attributable to D.R. Horton for its third fiscal quarter decreased 12% to $904.9 million, and earnings per diluted share decreased 5% to $3.20. Consolidated pre-tax income totaled $1.2 billion on revenues of $9.2 billion, resulting in a pre-tax profit margin of 13.3%.

Nine months ended June 30, 2026

Net income attributable to D.R. Horton for the first nine months of fiscal 2026 decreased 20% to $2.1 billion, and earnings per diluted share decreased 13% to $7.45. Consolidated pre-tax income totaled $2.9 billion on revenues of $23.7 billion, resulting in a pre-tax profit margin of 12.2%.

Cash provided by operations was $880.8 million during the nine months ended June 30, 2026. Total liquidity at quarter end was $6.1 billion, and the Company's debt to total capital ratio was 23.0%. Debt to total capital ratio consists of notes payable divided by stockholders' equity plus notes payable. The Company has $600 million of homebuilding senior notes maturing in the next twelve months.

For the trailing twelve months ended June 30, 2026, the Company's return on equity (ROE) was 12.8% and return on assets (ROA) was 8.5%. ROE is calculated as net income attributable to D.R. Horton for the trailing twelve months divided by average stockholders' equity, where average stockholders' equity is the sum of ending stockholders' equity balances of the trailing five quarters divided by five. ROA is calculated as net income attributable to D.R. Horton for the trailing twelve months divided by average consolidated assets, where average consolidated assets is the sum of total asset balances for the trailing five quarters divided by five.

David Auld, Executive Chairman, said:

“The D.R. Horton team delivered a solid third quarter, highlighted by earnings per diluted share of $3.20, consolidated pre-tax income of $1.2 billion, revenues of $9.2 billion and a pre-tax profit margin of 13.3%. We closed 23,983 homes, which was at the high end of our guidance range, while achieving a home sales gross margin of 20.7%. Consistent with our balanced approach to capital allocation and strong cash flow generation, we returned $742.8 million to shareholders through share repurchases and dividends during the quarter.

“Our teams are managing each community with discipline, balancing pace, price, incentives and inventory levels to maximize returns. Affordability constraints and cautious consumer sentiment continue to impact new home demand, and we expect sales incentives to remain elevated during the fourth quarter, with incentive levels dependent on demand, mortgage rates and other market conditions.

“Our experienced local operators, broad national footprint, flexible lot supply and strong balance sheet position us to compete effectively and capture demand across our markets. We remain focused on disciplined capital allocation and are committed to delivering value to our homebuyers while enhancing long-term returns for our shareholders.”

Homebuilding

Three months ended June 30, 2026

Homebuilding revenue for the third quarter increased 1% to $8.7 billion, and homes closed increased 4% to 23,983 homes. Homebuilding pre-tax income decreased 10% to $1.1 billion, and pre-tax profit margin was 12.3%. Net sales orders totaled 23,084 homes with an order value of $8.4 billion, flat with the same quarter of fiscal 2025. The Company’s cancellation rate (cancelled sales orders divided by gross sales orders) for the quarter was 20% compared to 17% in the prior year quarter.

Nine months ended June 30, 2026

Homebuilding revenue for the first nine months of fiscal 2026 decreased 3% to $22.3 billion, and homes closed of 61,287 homes were flat with the same period of fiscal 2025. Homebuilding pre-tax income decreased 19% to $2.5 billion, and pre-tax profit margin was 11.4%. Net sales orders increased 5% to 66,376 homes, and sales order value incr

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