What You Need To Know Ahead of D.R. Horton’s Earnings Release

With a market capitalization of $39.4 billion, D.R. Horton, Inc. (DHI) is the largest homebuilder in the United States by volume, specializing in the construction and sale of single-family homes for a broad range of buyers, including first-time homeowners, move-up buyers, active adults, and luxury homebuyers. Headquartered in Arlington, Texas, the company operates in more than 120 markets across 36 U.S. states under brands such as D.R. Horton, Emerald Homes, Express Homes, and Freedom Homes.

The homebuilding titan is expected to release its Q3 2026 earnings on Tuesday, July 21, before the market opens. Ahead of the event, analysts expect the company’s EPS to be $3 on a diluted basis, down 10.7% from $3.36 in the year-ago quarter. The company has exceeded Wall Street’s EPS estimates in three of its last four quarters, while missing them in another one.

For fiscal 2026, analysts project the company’s EPS to be $10.61, down 8.3% from $11.57 in fiscal 2025. However, its EPS is expected to rise by 12.7% year over year to $11.96 in fiscal 2027.

DHI stock has surged 30.8% over the past 52 weeks, outperforming the S&P 500 Index’s ($SPX) 19.8% rise and the State Street Consumer Cyclical Select Sector SPDR ETF’s (XLY) 6.4% return during the same time frame.

On June 24, DHI shares popped 6.9% after Congress passed the bipartisan 21st Century ROAD to Housing Act, a landmark housing-supply bill aimed at reducing construction costs and easing regulatory hurdles. The legislation is expected to support homebuilders like D.R. Horton by boosting long-term building activity and directing more demand toward new homes. 

Analysts are neutral on DHI, with the stock currently rated “Hold.” Among the 20 analysts covering the stock, four are recommending a “Strong Buy,” 15 suggest a “Hold,” and one recommends a “Strong Sell” for the stock. DHI’s average analyst price target is $170.07, indicating an upside of 2.3% from the current levels.