Filing Flows › Horton D R (DHI) › Q3 FY26
Horton D R (DHI) Q3 FY26 earnings results (third quarter fiscal 2026)
10-Q filed Jul 23, 2026
Horton D R (DHI) reported revenue of $9.2B for the third quarter fiscal 2026 (Q3 FY26), 0% from a year earlier and +22% from the quarter before. Operating margin was 13.3%, net earnings $905M (9.8% of revenue).
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 follows the revenue to costs, profit and cash.
| Q3 FY26 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $9.2B | +22% | 0% |
| Operating profit | $1.2B | +41% | -10% |
| Net earnings | $905M | +40% | -12% |
| Operating cash flow | $439M | — | -41% |
| Free cash flow | $397M | — | -43% |
What changed
Revenue was $9.2B in Q3 FY26, roughly flat year over year and up 22% from the previous quarter. HomeBuildingOps was the largest line at 94% of revenue. HomeBuildingOps added $0.12B year over year (up 1%), 8636% of the total change. Rental declined 30%.
Operating profit was $1.2B, a 13.3% margin (down 1.4 points year over year). Operating profit fell $0.13B even though revenue rose $1.4M versus Q3 FY25, so costs grew faster than sales. Total costs grew 2% against flat revenue. Net earnings were $0.90B, down 12% year over year. The effective tax rate was 25.1%.
Operating cash flow was $0.44B (down 41% year over year), 48% 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 $0.54B. Capital expenditures of $0.04B left free cash flow of $0.40B.
Questions
What was Horton D R's revenue in the third quarter fiscal 2026?
Horton D R (DHI) reported revenue of $9.2B for the third quarter fiscal 2026 (Q3 FY26), 0% from a year earlier and +22% from the quarter before.
Was Horton D R profitable in the third quarter fiscal 2026?
Operating profit was $1.2B (13.3% of revenue) and net earnings $905M.
Source: Horton D R 10-Q on SEC EDGAR.