Filing Flows › Horton D R (DHI) › Q3 FY26 › vs Q2 FY26
Horton D R (DHI) Q3 FY26 vs Q2 FY26 (quarter over quarter)
Horton D R's revenue rose $1.7B (+22%) from $7.6B in Q2 FY26 to $9.2B in Q3 FY26. The biggest changes: HomeBuildingOps +$1.6B (+23%); Rental +$54.3M (+26%); Land −$49.6M (-46%). Operating margin 13.3% against 11.5% (+1.8 pts).
Horton D R, Q3 FY26: revenue $9.2B (0% year over year), operating margin 13.3%, net earnings $905M, operating cash flow $439M. The chart draws each line against Q2 FY26, the increases inside each band.
Margins
| Q3 FY26 | Q2 FY26 | Change | |
|---|---|---|---|
| Operating margin | 13.3% | 11.5% | +1.8 pts |
| Net margin | 9.8% | 8.6% | +1.2 pts |
| Free cash flow margin | 4.3% | -5.9% | +10.3 pts |
Every line
| Line | Q3 FY26 | Q2 FY26 | Change | % |
|---|---|---|---|---|
| HomeBuildingOps | $8.7B | $7.0B | $1.6B | +23% |
| Rental | $266M | $212M | $54.3M | +26% |
| Financial Services | $221M | $193M | $27.9M | +14% |
| Land | $58.4M | $108M | −$49.6M | -46% |
| Revenue | $9.2B | $7.6B | $1.7B | +22% |
| Operating profit | $1.2B | $867M | $359M | +41% |
| Costs & expenses | $8.0B | $6.7B | $1.3B | +20% |
| Pre-tax earnings | $1.2B | $867M | $359M | +41% |
| Net earnings | $905M | $648M | $257M | +40% |
| Minority interests | $13.8M | $10.1M | $3.7M | +37% |
| Income tax | $308M | $209M | $98.1M | +47% |
| Depreciation & amortization | $29.0M | $28.1M | $900K | +3% |
| Share-based compensation | $31.5M | $34.6M | −$3.1M | -9% |
| Working capital & other | $526M | $1.1B | −$597M | -53% |
| Operating cash flow | $439M | −$412M | $852M | — |
| Free cash flow (OCF − capex) | $397M | −$450M | $847M | — |
| Capital expenditures | $42.0M | $37.2M | $4.8M | +13% |
Questions
How much did Horton D R's revenue grow quarter over quarter in Q3 FY26?
Horton D R's revenue rose $1.7B (+22%) from $7.6B in Q2 FY26 to $9.2B in Q3 FY26.
What drove Horton D R's revenue change in Q3 FY26?
HomeBuildingOps +$1.6B (+23%); Rental +$54.3M (+26%); Land −$49.6M (-46%).