Filing Flows › Horton D R (DHI) › Q3 FY25
Horton D R (DHI) Q3 FY25 earnings results (third quarter fiscal 2025)
10-Q filed Jul 23, 2025
Horton D R (DHI) reported revenue of $9.2B for the third quarter fiscal 2025 (Q3 FY25), -7% from a year earlier and +19% from the quarter before. Operating margin was 14.7%, net earnings $1.0B (11.1% of revenue).
Horton D R, Q3 FY25: revenue $9.2B (-7% year over year), operating margin 14.7%, net earnings $1.0B, operating cash flow $739M. The chart follows the revenue to costs, profit and cash.
| Q3 FY25 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $9.2B | +19% | -7% |
| Operating profit | $1.4B | +27% | -25% |
| Net earnings | $1.0B | +26% | -24% |
| Operating cash flow | $739M | — | +6% |
| Free cash flow | $693M | — | +9% |
What changed
Revenue was $9.2B in Q3 FY25, down 7% year over year and up 19% from the previous quarter. HomeBuildingMember was the largest line at 93% of revenue. HomeBuildingMember lost $0.67B year over year (down 7%), 91% of the total change.
Operating profit was $1.4B, a 14.7% margin (down 3.3 points year over year). Total costs fell 4% while revenue fell 7%. Net earnings were $1.0B, down 24% year over year. The effective tax rate was 23.9%.
Operating cash flow was $0.74B (up 6% year over year), 71% of net earnings. Non-cash charges added back $0.03B of depreciation and amortization and $0.03B of share-based compensation. Working capital and other items used $0.35B. Capital expenditures of $0.05B left free cash flow of $0.69B.
Questions
What was Horton D R's revenue in the third quarter fiscal 2025?
Horton D R (DHI) reported revenue of $9.2B for the third quarter fiscal 2025 (Q3 FY25), -7% from a year earlier and +19% from the quarter before.
Was Horton D R profitable in the third quarter fiscal 2025?
Operating profit was $1.4B (14.7% of revenue) and net earnings $1.0B.
Source: Horton D R 10-Q on SEC EDGAR.