D.R. Horton Q4 revenue beats estimates despite weak housing demand
DHI•D.R. Horton reported fourth-quarter revenue of $9.40 billion, above the $8.99 billion estimate, while EPS of $2.67 missed the $3.02 estimate. It raised its quarterly dividend 11% to $0.50 per share and forecast fiscal 2027 revenue of $30 billion to $32 billion.
1. Quarterly results
D.R. Horton’s fourth-quarter revenue was $9.40 billion, beating analyst expectations of $8.99 billion. Earnings per share of $2.67 missed the $3.02 consensus estimate.
2. Fiscal 2027 outlook
The homebuilder expects consolidated revenue of $30.0 billion to $32.0 billion and to close 79,000 to 84,000 homes in fiscal 2027. It expects incentives to remain elevated, depending on market conditions.
3. Demand and dividend
The company said rising mortgage rates, affordability constraints and cautious consumer sentiment pressured new-home demand. It adjusted incentives, pricing and housing starts to align inventory with demand, recorded $91.4 million in rental-segment inventory impairment charges, and raised its quarterly dividend 11% to $0.50 per share.
