Q1 26 EPS
$2.03
BEAT +5.87%
Est. $1.92
Q1 26 Revenue
$6.89B
BEAT +3.56%
Est. $6.65B
vs S&P Since Q1 26
-7.0%
TRAILING MARKET
DHI -1.8% vs S&P +5.1%
Market Reaction
Did DHI Beat Earnings? Q1 2026 Results
D.R. Horton posted a stronger-than-expected fiscal first quarter, with earnings of $2.03 per diluted share beating the $1.92 consensus estimate by 5.87% and revenue of $6.89 billion clearing the $6.65 billion forecast by 3.56%, even as both metrics r… Read more D.R. Horton posted a stronger-than-expected fiscal first quarter, with earnings of $2.03 per diluted share beating the $1.92 consensus estimate by 5.87% and revenue of $6.89 billion clearing the $6.65 billion forecast by 3.56%, even as both metrics reflected the weight of a housing market under pressure. The nation's largest homebuilder saw consolidated revenue fall 9.5% year over year, with the homebuilding segment bearing the brunt of the decline as elevated sales incentives, deployed to sustain order velocity amid affordability constraints and cautious consumer sentiment, compressed pre-tax homebuilding margins to 10.8% from roughly 14% a year ago. Net income dropped 30% to $594.80 million. Against that backdrop, a bullish case for the company rests on its first-time buyer exposure and the potential demand release if mortgage rates ease meaningfully. Management reiterated full-year guidance for consolidated revenues of $33.50 billion to $35.00 billion and 86,000 to 88,000 closings, while returning $801.20 million to shareholders through buybacks and dividends in the quarter alone.
Key Takeaways
- • Net sales orders increased 3% to 18,300 homes
- • Cancellation rate held steady at 18%
- • 67% of homes closed were on lots developed by Forestar or third parties, up from 65% in prior year quarter
- • 40 basis point benefit from recovery of prior period warranty costs
- • Elevated sales incentives to maintain order velocity amid affordability constraints
DHI YoY Financials
Q1 2026 vs Q1 2025, source: SEC Filings
DHI Revenue by Segment
With YoY comparisons, source: SEC Filings
DHI Revenue by Geography
With YoY comparisons, source: SEC Filings
“The D.R. Horton team delivered a solid first quarter. We exceeded the high end of our closings and revenue guidance and leveraged our strong financial position and cash flow generation to return $801.2 million to shareholders through share repurchases and dividends during the quarter.”
— David Auld, Q1 2026 Earnings Press Release
DHI Earnings Trends
DHI vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
DHI EPS Trend
Earnings per share: estimate vs actual
DHI Revenue Trend
Quarterly revenue: estimate vs actual
DHI Quarterly Results
5 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q2 26 BEAT | $2.14 | $2.24 | +4.73% | $7.56B | -0.59% |
| Q1 26 BEAT | $1.92 | $2.03 | +5.87% | $6.89B | +3.56% |
| Q4 25 MISS FY | $3.29 | $3.04 | -7.60% | $9.68B | +2.50% |
| FY Full Year | $11.81 | $11.57 | -2.05% | $34.25B | +0.69% |
| Q3 25 BEAT | $2.90 | $3.36 | +15.67% | $9.23B | +4.87% |
| Q2 25 MISS | $2.65 | $2.58 | -2.48% | $7.73B | -3.71% |