Every material Form 8-K D. R. Horton has filed with the SEC since October 29, 2024, read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). Newest first; each brief links to its own page and to the filing on SEC.gov.
D.R. Horton reported fourth quarter fiscal 2026 consolidated revenues of $9.4 billion and net income attributable to the company of $741.8 million, representing an 18 percent decrease from the prior year period. For the full fiscal year ended September 30, 2026, net income fell 19 percent to $2.9 billion on $33.0 billion of revenues. Despite challenging housing market conditions, the board raised the quarterly cash dividend by 11 percent to $0.50 per share.
Fourth quarter net income attributable to D.R. Horton was $741.8 million, or $2.67 per diluted share, on consolidated revenues of $9.4 billion.
Fiscal 2026 net income was $2.9 billion, or $10.11 per diluted share, on consolidated revenues of $33.0 billion.
The board of directors increased the quarterly cash dividend by 11 percent to $0.50 per share, payable on November 19, 2026.
Initial fiscal 2027 guidance includes consolidated revenues in the range of $30.0 billion to $32.0 billion and 79,000 to 84,000 homes closed.
D.R. Horton appointed Carl E. Reichardt, Jr. as an independent director effective October 22, 2026, expanding the board to nine members, seven of them independent. He receives annual cash fees of $80,000 and equity awards with grant-date values of $235,000 and $250,000, a routine governance change with limited direct financial effect on shareholders.
Carl E. Reichardt, Jr. appointed to the Board effective October 22, 2026; board expands to nine directors, seven independent
Annual cash fees of $80,000, paid in quarterly installments of $20,000
Annual RSU award with $235,000 grant-date value, plus one-time new director RSU award of $250,000
Board will consider committee appointments after the January 14, 2027 Annual Meeting of Stockholders
D.R. Horton reported fiscal third-quarter 2026 results for the period ended June 30, 2026. Net income attributable to the company fell 12% to $904.9 million, and diluted earnings per share fell 5% to $3.20, while revenue was roughly flat at $9.2 billion. The company also updated its fiscal 2026 revenue and homes-closed guidance and declared a $0.45 quarterly dividend.
Net income attributable to D.R. Horton decreased 12% to $904.9 million; diluted EPS decreased 5% to $3.20 for the quarter.
Consolidated revenues were $9.2 billion, and homes closed rose 4% to 23,983 homes.
Fiscal 2026 consolidated revenue guidance was updated to $32.5 billion to $33.0 billion.
Quarterly dividend of $0.45 per share declared, payable August 13, 2026 to holders of record on August 6, 2026.
DHI Mortgage Company, a wholly-owned D.R. Horton subsidiary, signed a Fifth Amendment to its repurchase facility with U.S. Bank and other buyers, effective May 6, 2026. The amendment raises the maximum commitment to $1.925 billion and extends maturity to May 4, 2029, while modifying pricing, fees and financial covenants. The filing says the facility is not guaranteed by D.R. Horton, Inc. or its guarantor subsidiaries, and it provides financing for the mortgage unit's loan operations.
Maximum aggregate commitment increased to $1.925 billion
Maturity extended to May 4, 2029, subject to additional extension options
Pricing terms, fees and certain financial covenants modified
Amounts outstanding are not guaranteed by D.R. Horton, Inc. or its homebuilding, rental or Forestar guarantor subsidiaries
D.R. Horton reported fiscal second-quarter results for the quarter ended March 31, 2026, with net income attributable to the company down 20% from a year earlier and revenues of $7.6 billion. The company updated its fiscal 2026 consolidated revenue guidance to $33.5 billion to $34.5 billion and declared a $0.45 per share quarterly dividend. For shareholders, lower profit and revenue in the quarter are the key facts, while management said it remains on track to deliver results within its original fiscal 2026 guidance.
Net income attributable to D.R. Horton fell 20% to $647.9 million, or $2.24 per diluted share, down 13% from a year earlier.
Revenues were $7.6 billion versus $7.7 billion a year earlier; homes closed rose 1% to 19,486 and net sales orders rose 11% to 24,992.
Updated fiscal 2026 guidance: consolidated revenues of $33.5 billion to $34.5 billion and 86,000 to 87,500 homes closed; reiterated tax rate, operating cash flow, share repurchase and dividend guidance.
Quarterly dividend of $0.45 per share, payable May 14, 2026 to stockholders of record on May 7, 2026.
D.R. Horton entered into Amendment No. 13 to its credit agreement, raising the aggregate revolving credit commitment to $3.295 billion and the aggregate credit facility limit to $4.0 billion. A subsidiary, DRH Rental, also amended its $1.050 billion revolving facility to extend the termination date to March 27, 2030 and reduce undrawn fees.
D.R. Horton's aggregate revolving credit commitment increased to $3.295 billion across multiple maturity tranches, including Series C maturing October 28, 2027, Series D maturing March 27, 2029 and Series E maturing March 27, 2031
Aggregate Credit Facility Limit increased to $4.0 billion
DRH Rental's $1.050 billion senior unsecured revolving facility termination date extended to March 27, 2030, with lower undrawn fees
D.R. Horton reported fiscal first-quarter 2026 results for the quarter ended December 31, 2025, with net income attributable to the company down 30% to $594.8 million and diluted earnings per share down 22% to $2.03. Revenues were $6.9 billion, compared with $7.6 billion a year earlier, and the company reiterated its fiscal 2026 guidance and declared a quarterly dividend of $0.45 per share.
Net income attributable to D.R. Horton was $594.8 million, or $2.03 per diluted share, versus $844.9 million, or $2.61 per diluted share, a year earlier
Homes closed fell 7% to 17,818, while net sales orders rose 3% to 18,300 homes
Fiscal 2026 guidance was reiterated, including consolidated revenues of $33.5 billion to $35.0 billion
Quarterly dividend of $0.45 per share is payable February 12, 2026 to stockholders of record on February 5, 2026
D.R. Horton reported fourth-quarter and fiscal 2025 results, with net income attributable to the company down 29% to $905.3 million in the quarter and down 25% to $3.6 billion for the year. The company also declared a quarterly dividend of $0.45 per share, up 13%, and issued initial fiscal 2026 guidance for revenue of $33.5 billion to $35.0 billion.
Fourth quarter net income of $905.3 million, or $3.04 per diluted share, down 22% on a per-share basis; consolidated revenues of $9.7 billion
Fiscal 2025 net income of $3.6 billion, or $11.57 per diluted share, down 19% on a per-share basis; repurchased 30.7 million shares for $4.3 billion
Quarterly dividend raised 13% to $0.45 per share, payable November 20, 2025, to holders of record on November 13, 2025
Fiscal 2026 guidance includes consolidated revenues of $33.5 billion to $35.0 billion and 86,000 to 88,000 homes closed by homebuilding operations
D.R. Horton reported fiscal third-quarter results for the period ended June 30, 2025, with diluted earnings per share of $3.36, down 18% from $4.10, and revenues of $9.2 billion, down 7%. The company updated its fiscal 2025 guidance, giving consolidated revenue of $33.7 billion to $34.2 billion and 85,000 to 85,500 homes closed, and declared a $0.40 quarterly dividend. The filing does not state the prior guidance, so it does not show whether the update was higher or lower.
Net income attributable to D.R. Horton fell 24% to $1.0 billion; diluted EPS was $3.36 versus $4.10 a year earlier.
Homes closed fell 4% to 23,160, and homebuilding pre-tax margin was 13.8% versus 17.0% a year earlier.
Updated fiscal 2025 guidance: revenues of $33.7 billion to $34.2 billion, 85,000 to 85,500 homes closed, and share repurchases of $4.2 billion to $4.4 billion.
Quarterly dividend of $0.40 per share is payable August 14, 2025, to holders of record on August 7, 2025.
A wholly-owned subsidiary of D.R. Horton, DHI Mortgage Company, entered into a fourth amendment to its master repurchase agreement with U.S. Bank National Association and other buyers, effective May 8, 2025. The facility provides financing and liquidity to the mortgage unit by letting it sell eligible loans to buyers, with a maximum commitment of $1.4 billion that can rise to $2.0 billion through an accordion feature. The filing says amounts outstanding are not guaranteed by D.R. Horton or the subsidiaries that guarantee its homebuilding, rental or Forestar debt.
Maximum aggregate commitment is $1.4 billion, with an accordion feature up to $2.0 billion
Facility term runs through the earlier of May 6, 2026 or an earlier termination date
Amounts outstanding are not guaranteed by D.R. Horton or its debt-guaranteeing subsidiaries
Amendment dated May 8, 2025 is filed as Exhibit 10.1
D.R. Horton, Inc. completed a public offering of $500 million in 4.850% senior notes maturing October 15, 2030, on May 5, 2025. The company received net proceeds of $496.7 million after the underwriting discount, and the notes are guaranteed by substantially all of its current homebuilding subsidiaries.
Principal amount of $500 million; net proceeds of $496.7 million after the underwriting discount
Interest at 4.850% per year, paid semi-annually on April 15 and October 15, beginning October 15, 2025
Maturity date of October 15, 2030, with optional redemption before September 15, 2030 at a make-whole price
Notes issued under an indenture with Truist Bank as trustee, with a change-of-control offer at 101% of principal if a change in control and a ratings downgrade both occur
D.R. Horton reported fiscal second-quarter 2025 results for the period ended March 31, 2025, with diluted earnings per share of $2.58, down 27% from $3.52 a year earlier, and consolidated revenues of $7.7 billion, down 15%. The company updated its fiscal 2025 guidance and declared a $0.40 quarterly dividend, and management said the spring selling season started slower than expected. Shareholders are affected by lower profit and sales, while the company reduced its outstanding share count by 7% from a year earlier and authorized a new $5.0 billion repurchase program in April 2025.
Net income attributable to D.R. Horton was $810.4 million, or $2.58 per diluted share, versus $1.2 billion, or $3.52 per diluted share, in the same quarter of fiscal 2024.
Net sales orders fell 15% to 22,437 homes, and homes closed fell 15% to 19,276 homes.
Updated fiscal 2025 guidance includes consolidated revenues of $33.3 billion to $34.8 billion and share repurchases of approximately $4.0 billion.
The Board authorized up to $5.0 billion of share repurchases in April 2025, and the quarterly dividend of $0.40 per share is payable May 9, 2025.
On February 26, 2025, D.R. Horton completed a public offering of $700 million in 5.500% senior notes maturing October 15, 2035, receiving net proceeds of $695.2 million after the underwriting discount. The notes are guaranteed by substantially all of the company's current homebuilding subsidiaries and rank as general unsecured obligations. The filing adds $700 million of debt, which shareholders may weigh against the company's existing borrowings.
Principal amount: $700 million of 5.500% senior notes due October 15, 2035
Net proceeds after underwriting discount: $695.2 million
Interest payable semi-annually on April 15 and October 15, beginning October 15, 2025
Change of control plus ratings downgrade triggers an offer to repurchase at 101% of principal
D.R. Horton reported first-quarter fiscal 2025 results for the period ended December 31, 2024. Net income attributable to the company fell 11% to $844.9 million, and diluted earnings per share fell 7% to $2.61, while consolidated revenues declined 1% to $7.6 billion. The company reiterated its fiscal 2025 revenue guidance, updated its share repurchase guidance to $2.6 billion to $2.8 billion, and declared a quarterly dividend of $0.40 per share.
Diluted EPS of $2.61 versus $2.82 a year earlier; net income attributable to D.R. Horton of $844.9 million versus $947.4 million
Consolidated revenues of $7.6 billion versus $7.7 billion; homes closed fell 1% to 19,059 from 19,340
Homebuilding pre-tax profit margin of 14.1% versus 15.0% a year earlier; Forestar pre-tax income of $21.9 million versus $51.2 million
Fiscal 2025 revenue guidance of $36.0 billion to $37.5 billion reiterated; quarterly dividend of $0.40 per share payable February 14, 2025
D.R. Horton entered Amendment No. 12 to its credit agreement, effective December 18, 2024, with Mizuho Bank as successor administrative agent and other lenders. The amendment extends the revolving credit facility termination date for Series A commitments to December 18, 2029, modifies pricing, and increases the aggregate revolving credit commitment to $2.23 billion.
Aggregate revolving credit commitment increased to $2.23 billion
Series A revolving credit termination date extended to December 18, 2029
Pricing for Series A revolving commitments modified; specific terms are in Exhibit 10.1
Amendment effective December 18, 2024; 8-K dated December 23, 2024
On October 28, 2024, D.R. Horton and its subsidiary Forestar Group entered into an amended and restated stockholder's agreement that raises the Forestar capital expenditure approval thresholds from $20 million to $45 million. The thresholds will adjust annually based on the Case-Shiller home price index, and the charter changes need Forestar stockholder approval at its 2025 annual meeting. D.R. Horton owned about 62% of Forestar's common stock as of October 28, 2024.
Approval thresholds for Forestar capital expenditures rise from $20 million to $45 million.
Thresholds adjust each year using the S&P CoreLogic Case-Shiller U.S. National Home Price index, with no reduction if the index change is negative.
Matching charter amendment goes to Forestar stockholders at its 2025 Annual Meeting; current charter terms apply until then.
D.R. Horton owned approximately 62% of Forestar's outstanding common stock as of October 28, 2024.
D.R. Horton reported fourth-quarter fiscal 2024 diluted earnings of $3.92 per share, down from $4.45 a year earlier, on revenue of $10.0 billion, down 5% from $10.5 billion. For the full fiscal year, diluted EPS rose 4% to $14.34 on revenue of $36.8 billion, up 4%, and the company raised its quarterly dividend 33% to $0.40 per share and gave initial fiscal 2025 revenue guidance of $36.0 billion to $37.5 billion.
Q4 net income was $1.3 billion versus $1.5 billion a year earlier; Q4 revenue was $10.0 billion versus $10.5 billion.
Q4 net sales orders rose 1% to 19,035 homes; the cancellation rate was 21%, unchanged from the prior year quarter.
The quarterly dividend was increased to $0.40 per share, payable November 19, 2024 to holders of record on November 12, 2024.
Fiscal 2025 guidance includes 90,000 to 92,000 homes closed and share repurchases of approximately $2.4 billion.
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