D.R. Horton, Inc. · DHI · Next earnings

D.R. Horton, Inc. reports Thursday, Oct 29, 2026

DHI reports before market open with consensus EPS at $3.06 and revenue at $9.11B. Last quarter: D.R. Horton Beats Margin Targets But Lowers Full-Year Guidance on Softer Demand

Reports Before market open39 days awayDate estimated Consumer Cyclical

What the street expects

Consensus for the coming report
Consensus EPS $3.06 Calendar consensus
Consensus revenue $9.11B Calendar consensus
Report date Oct 29, 2026 Thursday, date estimated
Session Before market open 39 days away

Where DHI left off: FY2026 Q3

Full report

D.R. Horton Beats Margin Targets But Lowers Full-Year Guidance on Softer Demand

EPS surprise +6.0% Reported $3.20 vs $3.02
Revenue surprise +1.4% Reported $9.23B vs $9.10B
Stock move -0.9% Event window
Subsequent drift +2.5% Up to 20 sessions

Prior Q3 guidance called for revenue of $8.8-$9.3 billion and 23,500-24,000 closings; actuals were $9.23 billion and 23,983 homes, both within range. Gross margin guidance of 19.7%-20.2% was exceeded at 20.7%, and pretax margin guidance of 12.2%-12.7% was exceeded at 13.3%. New Q4 guidance targets revenue of $8.8-$9.3 billion, 22,500-23,000 closings, and gross margin of 20.5%-21%. Full-year FY2026 guidance was lowered due to softer demand.

What to watch on the call

Carried forward from the last transcript

Risks management flagged

  • Affordability constraints and cautious consumer sentiment could further weaken demand.
  • Rising cancellation rates (20% vs 17% prior year) may pressure revenue and inventory turnover.
  • Elevated incentives could compress margins if demand deteriorates further.
  • Lot cost inflation and material cost headwinds (fuel, lumber) threaten future gross margins.
  • Higher interest rates and geopolitical uncertainty add demand volatility.

Questions analysts left open

  • Softening demand and the second consecutive full-year guidance reduction.
  • Increasing SG&A expense as community count grows.
  • Lot cost inflation and its impact on future margins.
  • Sustained level of incentives and their effect on gross margin.
  • Regional demand variation, especially weakness in the Northwest.

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Recent DHI quarters

All DHI earnings
-0.9%FY2026 Q3

Sources

  1. FN2 corporate events calendar, resolved from the earnings calendar feed
  2. FN2 earnings calendar analyst consensus
  3. Earnings call transcript analysis, FY2026 Q3

Methodology

The report date comes from FN2's resolved corporate-events calendar and is marked estimated until the company confirms it. Consensus figures are the calendar's latest analyst estimates for the fiscal period and are not an FN2 forecast.

Risks and open questions are carried forward verbatim from FN2's structured analysis of the previous earnings call. Missing values stay missing and are never estimated.

By FN2 Research · Updated . For educational purposes only; not investment advice.