D.R. Horton beat earnings expectations despite housing market cracks, as cancellation rates jumped to 20% and margin-crushing incentives signal affordability pain ahead. The homebuilder posted $3.20 per share on flat revenue, with home closings up 4% but gross margin compressed to 20.7% as competition forced deeper discounts.
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D.R. Horton Inc, headquartered in Arlington, Texas, is a leading homebuilding company operating across the United States. Founded in 1978, it builds and sells homes under various names including D.R. Horton, America’s Builder, Express Homes, Emerald Homes, and Freedom Homes. The company offers a wide range of residential properties, from single-family detached homes to townhomes, duplexes, and triplexes. Besides construction, D.R. Horton provides mortgage financing, title insurance, and closing services. It also engages in lot development, and owns and develops multi-family and single-family rental properties, catering primarily to homebuyers.
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