D R Horton Inc. (DHI) reported a profit for third quarter that Drops, from last year but beat the Street estimates.
The company's bottom line came in at $1.024 billion, or $3.36 per share. This compares with $1.353 billion, or $4.10 per share, last year.
Analysts on average had expected the company to earn $2.9 per share. Analysts' estimates typically exclude special items.
The company's revenue for the period fell 7.4% to $9.225 billion from $9.965 billion last year.
D R Horton Inc. earnings at a glance (GAAP) :
-Earnings: $1.024 Bln. vs. $1.353 Bln. last year.-EPS: $3.36 vs. $4.10 last year.-Revenue: $9.225 Bln vs. $9.965 Bln last year.
Third-quarter Homebuilding revenue decreased to $8.6 billion from $9.2 billion a year ago.
David Auld, Executive Chairman, said: “New home demand continues to be impacted by ongoing affordability constraints and cautious consumer sentiment."
The company will pay a quarterly cash dividend of $0.40 per share on August 14, to stockholders of record as of August 7.
D R Horton has revised its annual revenue guidance. The home builder now expects revenue of $33.7 billion to $34.2 billion against its earlier expectation of $33.3 billion to $34.8 billion. For fiscal 2024, the company had recorded revenue of $36.801 billion.
For the full year, D R Horton now aims to repurchase $4.2 billion to $4.4 billion of shares, compared with the previous outlook of around $4 billion of shares.
The company still expects to pay around $500 million as dividends for the year.
DHI was up by 6.67% at $139.98 in the pre-market trade on the New York Stock Exchange.
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May 15, 2026 15:25 ET Apart from the confirmation of Kevin Warsh as the next Fed chair, the main news on the economics front this week included key price data from the U.S. and the first quarter economic growth figures from major economies. Both consumer prices and producer costs have started to reflect the effect of supply shocks due to the Middle East conflict. In Europe, GDP data was in focus, while inflation data from China dominated the news flow in Asia.