D.R. Horton Beats Earnings but Cuts Full-Year Outlook as Buyers Hesitate

Earnings
โดย Yahoo Finance·Read original
Summary · why it matters

D.R. Horton reported fiscal third-quarter 2026 earnings that topped Wall Street estimates but lowered its full-year sales and home-closing guidance amid affordability pressures and cautious consumer sentiment. Net income fell 12% year over year to $904.9 million, with earnings of $3.20 per share beating the analyst consensus of $3.06, while revenue rose to $9.23 billion, exceeding expectations of $9.18 billion. The company, America's largest homebuilder by volume, reduced its fiscal 2026 revenue outlook to a range of $32.5 billion to $33.0 billion from a prior forecast of $33.5 billion to $34.5 billion, and cut its home-closing forecast to 83,800 to 84,300 homes from 86,000 to 87,500 homes. Executive Chairman David Auld cited affordability challenges and cautious consumer sentiment as ongoing pressures on new-home demand, with elevated sales incentives expected to persist through the fourth quarter. The cancellation rate increased to 20% from 17% in the prior-year quarter, and the homebuilding pretax margin narrowed to 12.3%.

Impact on stocks 3

Consumer Discretionary▼ · 3 stocks
DR Horton Inc
DHI
▼ NegativeDemandrelevance

D.R. Horton cut full-year guidance due to affordability pressures and cautious consumer sentiment, with cancellation rate rising to 20%.

Lennar Corporation
LEN
± MixedDemandrelevance

Lennar is a peer homebuilder; the article's demand headwinds likely affect the sector, but no specific mention of Lennar.

PulteGroup Inc
PHM
± MixedDemandrelevance

PulteGroup is a peer homebuilder; the article's demand headwinds likely affect the sector, but no specific mention of PulteGroup.

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