D.R. Horton, Inc. (NYSE:DHI) has reported its first fiscal quarter results for 2026, with net income attributable to D.R. Horton at $594.8 million, or $2.03 per diluted share. Consolidated pre-tax income was $798.1 million, with a pre-tax profit margin of 11.6%. The company's consolidated revenues reached $6.9 billion, with home sales revenues at $6.5 billion from 17,818 homes closed.
Notably, net sales orders increased by 3% to 18,300 homes, with an order value of $6.7 billion. Cash provided by operations totaled $854.0 million, and the company's debt to total capital was 18.8%. Additionally, the book value per share increased by 5% to $82.60.
During the first quarter, D.R. Horton repurchased 4.4 million shares of common stock for $669.7 million and paid cash dividends of $131.5 million. The company's return on equity (ROE) for the trailing twelve months was 13.7%, and the return on assets (ROA) was 9.4%.
In terms of homebuilding, revenue for the first quarter decreased by 9% to $6.5 billion, with 17,818 homes closed, a 7% decrease from the prior year. Homebuilding pre-tax income saw a 30% decrease to $708.1 million, with a pre-tax profit margin of 10.8%. Nevertheless, net sales orders increased by 3% to 18,300 homes with an order value of $6.7 billion.
The company's non-homebuilding segments also displayed noteworthy performance. Rental operations generated revenues of $109.5 million from the sale of 397 single-family rental homes and $0.2 million of pre-tax income. Forestar sold 1,944 lots and generated $273.0 million of revenue and $20.8 million of pre-tax income. Financial services revenues were $184.6 million with pre-tax income of $58.0 million.
Looking ahead, D.R. Horton is reiterating its fiscal 2026 guidance, including consolidated revenues in the range of $33.5 billion to $35.0 billion, and homes closed by homebuilding operations of 86,000 homes to 88,000 homes. The company also plans to provide guidance for its second quarter of fiscal 2026 on its conference call.
In terms of capital allocation, D.R. Horton plans for share repurchases of approximately $2.5 billion and dividend payments of approximately $500 million.
D.R. Horton, Inc. is maintaining its position as America's largest homebuilder by volume, with operations in 126 markets in 36 states across the United States. The company has closed more than 1.2 million homes in its 47-year history and continues to provide high-quality homes through its diverse product portfolio. Following these announcements, the company's shares moved -3.13%, and are now trading at a price of $155.96. Check out the company's full 8-K submission here.
