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Sentiment · FY2026 Q2
A pre-earnings brief is ready for DHI: the setup, what peers and partners said this season, and which analysts to watch. Reading it is a Tellvest Pro feature.
What companies say about each other on earnings calls — extracted verbatim from public transcripts. Mentions from the newest quarter are a Pro feature.
“I think the SK acquisition helps our positioning in the Greenville, South Carolina market quite a bit.”
D.R. Horton's acquisition of SK Builders adds inventory, lots and market share in the Greenville, South Carolina market.
“During the quarter, Moody's upgraded our credit rating to A3 and we now have an A rating from two of the three credit rating agencies.”
Moody's upgraded D.R. Horton's credit rating to A3, giving the homebuilder an A rating from two of the three major agencies, a positive credit signal.
Revenue declined 10% to $6.9 billion with EPS falling 22% to $2.03 as margin compression continued with gross margin of 20.4%, though this was up 40 basis points sequentially. FY2026 guidance was reiterated unchanged at $33.5-35 billion revenue and 86,000-88,000 homes, with starts pace ramping as completed specs declined. Land costs remained sticky, up 4% year-over-year, with no significant relief in sight.
Demand | Pricing | Margin | Cost Pressure | Competitive Dynamics | Geographic Expansion | Macroeconomic | Supply Chain | |
|---|---|---|---|---|---|---|---|---|
| 2024Q4 | 10 | 6 | 7 | 4 | 6 | 2 | 3 | 2 |
| 2025Q1 | 7 | 6 | 10 | 3 | 7 | 2 | 2 | 4 |
| 2025Q2 | 6 | 4 | 6 | 8 | 6 | 3 | 2 | 5 |
| 2025Q3 | 11 | 10 | 6 | 6 | 7 | 4 | 2 | 2 |
| 2025Q4 | 14 | 9 | 8 | 5 | 3 | 5 | 2 | 2 |
| 2026Q1 | 13 | 7 | 6 | 5 | 2 | 2 | 6 | 1 |
| 2026Q2 | 14 | 11 | 10 | 9 | 3 | 5 | 3 | 2 |
| '24Q4 | '25Q1 | '25Q2 | '25Q3 | '25Q4 | '26Q1 | '26Q2 | |
|---|---|---|---|---|---|---|---|
| Demand | 10 | 7 | 6 | 11 | 14 | 13 | 14 |
| Pricing | 6 | 6 | 4 | 10 | 9 | 7 | 11 |
| Margin | 7 | 10 | 6 | 6 | 8 | 6 | 10 |
| Cost Pressure | 4 | 3 | 8 | 6 | 5 | 5 | 9 |
| Competitive Dynamics | 6 | 7 | 6 | 7 | 3 | 2 | 3 |
| Geographic Expansion | 2 | 2 | 3 | 4 | 5 | 2 | 5 |
| Macroeconomic | 3 | 2 | 2 | 2 | 2 | 6 | 3 |
| Supply Chain | 2 | 4 | 5 | 2 | 2 | 1 | 2 |
| Analyst | Firm | Questions (Challenge)Percentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|
| Steve Kim | Evercore ISI | 14 (14%) |
| Matt Bouley | Barclays | 14 (7%) |
| John Lovallo | UBS | 14 |
| Mike Rehaut | JPMorgan | 14 (0%) |
| Alan Ratner | Zelman & Associates | 14 (14%) |
| Rafe Jadrosich | Bank of America | 13 (0%) |
| Trevor Allinson | Wolfe Research | 12 (0%) |
| Sam Reid | Wells Fargo | 12 (0%) |
| Ken Zener | Seaport Research Partners | 12 (25%) |
| Tony Pettinari | Citigroup | 11 (9%) |
| Firm | Analysts | Questions (Challenge)Percentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|
| Wells Fargo | 2 | 14 (0%) |
| Zelman & Associates | 1 | 14 (14%) |
| UBS | 1 | 14 (7%) |
| JPMorgan | 1 | 14 (0%) |
| Wolfe Research | 2 | 14 (0%) |
| Evercore ISI | 1 | 14 (14%) |
| Barclays | 1 | 14 (7%) |
| Bank of America | 1 | 13 (0%) |
| Company | Score | Trend | Rev YoY |
|---|---|---|---|
DHI D. R. Horton | 2 | -2.3% | |
| LEN Lennar | 1 | -5.2% | |
| PHM PulteGroup | 2 | -12.4% |