Filing Flows › Horton D R (DHI) › Q2 FY26
Horton D R (DHI) Q2 FY26 earnings results (second quarter fiscal 2026)
10-Q filed Apr 23, 2026
Horton D R (DHI) reported revenue of $7.6B for the second quarter fiscal 2026 (Q2 FY26), -2% from a year earlier and +10% from the quarter before. Operating margin was 11.5%, net earnings $648M (8.6% of revenue).
Horton D R, Q2 FY26: revenue $7.6B (-2% year over year), operating margin 11.5%, net earnings $648M, operating cash flow −$412M. The chart follows the revenue to costs, profit and cash.
| Q2 FY26 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $7.6B | +10% | -2% |
| Operating profit | $867M | +9% | -19% |
| Net earnings | $648M | +9% | -20% |
| Operating cash flow | −$412M | -148% | — |
What changed
Revenue was $7.6B in Q2 FY26, down 2% year over year and up 10% from the previous quarter. HomeBuildingOps was the largest line at 93% of revenue. HomeBuildingOps lost $0.14B year over year (down 2%), 77% of the total change.
Operating profit was $0.87B, a 11.5% margin (down 2.3 points year over year). Total costs grew 0% against a revenue fall of 2%. Net earnings were $0.65B, down 20% year over year. The effective tax rate was 24.1%.
Operating cash flow was −$0.41B. Non-cash charges added back $0.03B of depreciation and amortization and $0.03B of share-based compensation. Working capital and other items used $1.1B. Capital expenditures of $0.04B exceeded it, leaving free cash flow of −$0.45B.
Questions
What was Horton D R's revenue in the second quarter fiscal 2026?
Horton D R (DHI) reported revenue of $7.6B for the second quarter fiscal 2026 (Q2 FY26), -2% from a year earlier and +10% from the quarter before.
Was Horton D R profitable in the second quarter fiscal 2026?
Operating profit was $867M (11.5% of revenue) and net earnings $648M.
Source: Horton D R 10-Q on SEC EDGAR.