Q3 FY26 · Ended Jun 30, 2026 · View SEC filing
Incentives bought volume at the cost of profit
Revenue rose just 0.02% as more closings offset a lower average price, while rising costs cut pre-tax income.
For investorsWhat D.R. Horton's earnings depend on from here
For foundersControlling supply without owning it
Net income fell faster than earnings per share, because repurchases cut the diluted share count to 283.0 million.
With 38,000 homes in inventory, much of the quarter's profit is still tied up in houses not yet closed.
Contracts hold 78% of the lot position, so a weaker market can cost deposits rather than owned land.
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Business Lens describes D. R. Horton from its own filings with the SEC. It is not a view on its shares, a target, or advice to buy, sell or hold anything; figures are as filed and may be restated by the company later. The filing is linked above.
