DHID.R. Horton, Inc.
D.R. Horton, Inc. sells single-family homes and operates as one of the largest homebuilders in the U.S. The next catalyst is Oct 1, 2026 — Fall 2026 Housing Market Outlook, which will test the company’s ability to forecast demand in a softening market amid rising mortgage rates and affordability concerns.
- Revenue fell 6.9% YoY to $32.90B, with net income at $3.17B and free cash flow of $2.83B (TTM).
- Net margin stands at 9.6%, with leverage at $24.19B in shareholders’ equity.
- The company’s ability to manage costs and maintain cash flow will be key to navigating the next 12 months.
The Read
Horton's stock mixed after Q2 earnings matched expectations but lacked a beat, then rallied on positive cash flow and cost controls despite lowered guidance, but fell again as management cut full-year sales and home-closing guidance amid soft demand and rising mortgage rates.
The schedule
- Thu1Oct
- Thu22Oct
- Sun15Nov
- Wed30Dec
- Thu21Jan
- Thu22Apr
- Thu22Jul
Past
- Tue15Sep
Actual outcome: Bear · $144.09 at outcome
Price reached or fell below bear floor ($152.00) at outcome date.
Price reached or fell below bear floor ($152.00) at outcome date.
- Tue15Sep
Actual outcome: Bear · $136.67 at outcome
Stock fell 4.3% from event to outcome date, aligning with the bear trajectory.
Stock fell 4.3% from event to outcome date, aligning with the bear trajectory.
- Tue15Sep
Actual outcome: Bear · $137.02 at outcome
Stock fell 9.2% from event to outcome date, aligning with the bear trajectory.
Stock fell 9.2% from event to outcome date, aligning with the bear trajectory.
- Thu23Jul
Actual outcome: Bear · $145.53 at outcome
D.R. Horton met earnings expectations exactly with an EPS of $3.19, but management lowered its full-year sales and home-closing guidance for FY2026. The stock fell as investors reacted to this downgraded outlook alongside reports of ongoing demand softness, declining orders per community, and rising cancellations driven by elevated mortgage rates.
- Tue21Jul
Actual outcome: Mixed · $143.52 at outcome
D.R. Horton's Q3 earnings matched expectations, but the company lowered its full-year guidance due to softer demand and margin pressures. Despite this, the stock rallied as positive news such as improved cash flow, cost controls, and disciplined pricing strategies reassured investors, pushing the price above the bull target.
- Wed17Jun
Actual outcome: Bull · $158.57 at outcome
Price reached or exceeded bull target ($151.50) at outcome date.
- Thu16Apr
Actual outcome: Mixed · $141.76 at outcome
D.R. Horton reported Q2 FY2026 earnings that exactly met Wall Street expectations, posting an EPS of $2.03. With results perfectly in line with estimates and lacking a definitive beat or miss, the fundamental outcome was genuinely mixed. Consequently, shares remained relatively flat following the print, as the in-line performance balanced the company's strong operational efficiency against broader macroeconomic concerns over rising mortgage rates.
