D.R. Horton Inc. (NYSE:DHI) reported fiscal third-quarter 2026 results on Tuesday that topped Wall Street earnings expectations, but the homebuilder lowered its full-year sales and home-closing guidance as affordability pressures and cautious consumer sentiment continued to weigh on demand.
D.R. Horton is America’s largest homebuilder by volume, alongside other major industry leaders such as Lennar Corporation (NYSE:LEN) and PulteGroup Inc. (NYSE:PHM).
Net income attributable to the company declined 12% year over year to $904.9 million. Earnings came in at $3.20 per share, beating the analyst consensus estimate of $3.06. Revenue increased to $9.23 billion from a year earlier, exceeding analysts’ expectations of $9.18 billion.
Consolidated pretax income totaled $1.2 billion, with a pretax profit margin of 13.3%.
Executive Chairman David Auld said affordability challenges and cautious consumer sentiment continue to pressure new-home demand. He added that elevated sales incentives are expected to continue through the fourth quarter, with incentive levels depending on demand trends, mortgage rates and broader market conditions.
