Quarter ended June 30, 2026 (fiscal Q3).
| Closings | 23,983 (↑4%) |
| Revenue | $9.23B (flat) |
| Gross margin | 20.7% |
| Orders | 23,084 |
From the call
“Our gross profit margin on home sales revenues in the third quarter was 20.7%, above the high end of our guidance range, reflecting lower stick-and-brick costs and slightly lower incentives than the second quarter.”
Holding starts back earlier gave D.R. Horton leverage with trades, and those savings are now showing up in margin. It chose margin over pushing more volume.
Source: D.R. Horton 8-K and earnings call.
