HORTON D R INC /DE/ is expected to release its Q3 2026 10-Q filing in the upcoming earnings season. Last quarter: D.R. Horton's Q3 FY2026 revenue was essentially flat year-over-year at $9.23B, but net income fell 11.7% to $904.9M and home sales gross margin compressed to 20.7% from 21.8% as elevated sales incentives and affordability constraints continued to pressure profitability.
Drawn from management commentary in the Q2 2026 10-Q:
Home sales gross margin was 20.7% in Q3 FY2026 versus 21.8% in the prior year quarter, reflecting a decline in average sales price and higher sales incentives, including mortgage interest rate buydowns offered to support affordability. Management expects sales incentives to remain elevated through the remainder of fiscal 2026 and into fiscal 2027.
Homes closed increased 4% to 23,983 units in Q3 FY2026, while the average closing price fell 2% to $362,000; homebuilding revenue rose 1% to $8.7 billion. Net sales orders were 23,084 homes valued at $8.4 billion, essentially flat versus the prior year quarter, while cancellation rate rose to 20% from 17%.
Sales order backlog increased 14% to 15,983 homes and 16% in value to $6.2 billion at June 30, 2026, led by growth in the North and Southwest regions (North backlog value up 35%, Southwest up 41%).
Revenue
$9.23B
++0.02% YoY
EPS (Basic)
$3.21
-4.75% YoY
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