D.R. Horton, Inc., America’s Builder, Reports Fourth Quarter and Fiscal 2026 Earnings and Increases Quarterly Dividend to $0.50 Per Share

David Auld, Executive Chairman of D.R. Horton

“The D.R. Horton team completed our 25th consecutive year as America’s largest builder by volume, and we are proud to have provided homeownership to more than 84,000 individuals and families during fiscal 2026, including approximately 43,500 first-time homebuyers. Consolidated pre-tax income for the year totaled $3.9 billion on $33.0 billion of revenues, resulting in a pre-tax profit margin of 11.8%. We generated $3.5 billion of cash from operations in fiscal 2026 and returned $4.1 billion to shareholders through repurchases and dividends while maintaining a strong financial position.”

David Auld, Executive Chairman of D.R. Horton

“Housing market conditions became more challenging during the fourth quarter as rising mortgage rates, affordability constraints and cautious consumer sentiment continued to pressure new home demand. Our experienced operators responded with discipline by adjusting incentives, pricing and starts on a community-by-community basis to align our inventory levels with current demand. We expect incentives to remain elevated in fiscal 2027, the extent of which will depend on market conditions throughout the year.”

David Auld, Executive Chairman of D.R. Horton

“Our strong liquidity, low leverage, local market expertise and national scale provide us with significant financial and operational flexibility to adapt to changing market conditions and deliver attractive shareholder returns. Over the past 5 years, we have made significant investments in our housing platform as we entered 30 new markets and 7 new states and increased our community count by 65%. Over that same period, book value per share grew at a 15% compound annual rate, while we generated $14.0 billion of operating cash flow and returned all of it to shareholders through repurchases and dividends, reflecting our consistent execution, operational efficiency and disciplined, balanced capital allocation.”

David Auld, Executive Chairman of D.R. Horton

“Based on our solid financial position and cash flow, our Board recently increased our quarterly cash dividend by 11% to $0.50 per share, making fiscal 2027 our thirteenth consecutive year of dividend growth. We will continue to focus on delivering value to our homebuyers, gaining market share and generating compelling returns for our shareholders over the long term.”