Filing Flows › Horton D R (DHI) › Q2 FY25
Horton D R (DHI) Q2 FY25 earnings results (second quarter fiscal 2025)
10-Q filed Apr 23, 2025
Horton D R (DHI) reported revenue of $7.7B for the second quarter fiscal 2025 (Q2 FY25), -15% from a year earlier and +2% from the quarter before. Operating margin was 13.8%, net earnings $810M (10.5% of revenue).
Horton D R, Q2 FY25: revenue $7.7B (-15% year over year), operating margin 13.8%, net earnings $810M, operating cash flow −$436M. The chart follows the revenue to costs, profit and cash.
| Q2 FY25 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $7.7B | +2% | -15% |
| Operating profit | $1.1B | -4% | -30% |
| Net earnings | $810M | -4% | -31% |
| Operating cash flow | −$436M | — | — |
What changed
Revenue was $7.7B in Q2 FY25, down 15% year over year and up 2% from the previous quarter. HomeBuildingMember was the largest line at 93% of revenue. HomeBuildingMember lost $1.3B year over year (down 15%), 94% of the total change.
Operating profit was $1.1B, a 13.8% margin (down 3.0 points year over year). Total costs fell 12% while revenue fell 15%. Net earnings were $0.81B, down 31% year over year. The effective tax rate was 23.2%.
Operating cash flow was −$0.44B. Non-cash charges added back $0.02B of depreciation and amortization and $0.03B of share-based compensation. Working capital and other items used $1.3B. Capital expenditures of $0.03B exceeded it, leaving free cash flow of −$0.47B.
Questions
What was Horton D R's revenue in the second quarter fiscal 2025?
Horton D R (DHI) reported revenue of $7.7B for the second quarter fiscal 2025 (Q2 FY25), -15% from a year earlier and +2% from the quarter before.
Was Horton D R profitable in the second quarter fiscal 2025?
Operating profit was $1.1B (13.8% of revenue) and net earnings $810M.
Source: Horton D R 10-Q on SEC EDGAR.