D.R. Horton Inc. (NYSE:DHI) reported second-quarter results that exceeded analyst expectations. As a result, shares rose over 7% pre-market on Tuesday.
The homebuilder posted adjusted earnings per share of $2.24, beating the consensus estimate of $2.13. Revenue for the quarter ended March 31 reached $7.56 billion, slightly ahead of the $7.55 billion estimate but representing a 2% decline from $7.73 billion in the prior-year period.
The company closed 19,486 homes during the quarter, reflecting a 1% increase year-over-year. Net income attributable to D.R. Horton declined 20% to $647.9 million.
Pre-tax profit margin came in at 11.5%, exceeding the upper end of the company’s guidance range, supported by a favorable litigation outcome and reduced warranty costs.
Net sales orders rose 11% to 24,992 homes, representing an order value of $9.2 billion. Meanwhile, inventory of unsold completed homes decreased 35% compared to the same period last year.
For fiscal 2026, the company revised its revenue outlook upward to a range of $33.5 billion to $34.5 billion, with a midpoint of $34 billion exceeding the consensus estimate of $33.66 billion. D.R. Horton also projected home closings between 86,000 and 87,500 units for the year.
