D.R. Horton Q1 2025 Earnings – Net Income Drops 11%

By Bobby Samwell • Tuesday, January 21 15:23 • Permanent Link

D.R. Horton, Inc., America's largest homebuilder, reported its fiscal 2025 first-quarter earnings, along with several key financial metrics. The company's net income attributable to D.R. Horton decreased by 11% to $844.9 million compared to the same quarter in fiscal 2024, with a 7% decrease in net income per common share to $2.61. Consolidated revenues for the first quarter of fiscal 2025 decreased by 1% to $7.6 billion compared to the same period in fiscal 2024.

In terms of operations, homebuilding revenue for the first quarter of fiscal 2025 decreased by 2% to $7.2 billion, with a 1% decrease in homes closed. The pre-tax income from homebuilding operations decreased by 8% to $1.0 billion, along with a 1% decrease in net sales orders to 17,837 homes and a 2% decrease in order value to $6.7 billion compared to the same quarter of fiscal 2024.

In the rental operations segment, the company's pre-tax income decreased to $11.9 million, generated from revenues of $217.8 million, compared to $31.3 million of pre-tax income on revenues of $195.3 million in the same quarter of fiscal 2024.

The company's financial services segment reported revenues of $182.3 million compared to $192.6 million in the same quarter of fiscal 2024, with pre-tax income for the quarter at $48.6 million.

D.R. Horton returned $1.2 billion to shareholders through share repurchases and dividends during the quarter. The company repurchased 6.8 million shares of common stock for $1.1 billion, with the number of common shares outstanding at December 31, 2024, down 4% from the previous year. Additionally, the company paid cash dividends of $128.5 million during the first quarter of fiscal 2025.

Looking ahead, the company is reiterating its guidance for fiscal 2025, including consolidated revenues of approximately $36.0 billion to $37.5 billion and homes closed by homebuilding operations of 90,000 homes to 92,000 homes. The company also plans to provide guidance for its second quarter of fiscal 2025 on its conference call.

Following these announcements, the company's shares moved -1.8%, and are now trading at a price of $144.94. Check out the company's full 8-K submission here.

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