Key Takeaways WY reported an adjusted loss of 9 cents in Q4 while net sales fell 9.9% year over year and missed estimates.Weyerhaeuser faced weaker Wood Products pricing, volatile demand, and a 52.4% drop in adjusted EBITDA.WY saw strength in Real Estate and Climate Solutions, but the stock slipped 2.2% in after-hours trading.Weyerhaeuser Company (WY) reported mixed fourth-quarter 2025 results, wherein its earnings topped the Zacks Consensus Estimate, but net sales missed the same. Meanwhile, on a year-over ...

Key Takeaways NVR's Q4 EPS and homebuilding revenues beat estimates, but both declined year over year.Settlements and backlog fell Y/Y, reflecting affordability pressures despite modest order growth.Strong liquidity and buybacks support returns, even as housing demand remains cautious.NVR, Inc. (NVR) reported better-than-expected fourth-quarter 2025 results, with earnings and Homebuilding revenues surpassing the Zacks Consensus Estimate. Conversely, both earnings and Homebuilding revenues declined on a year ...

Core Insights - D.R. Horton, Inc. (DHI) reported better-than-expected first-quarter fiscal 2026 results, with earnings and total revenues exceeding the Zacks Consensus Estimate, although both metrics declined year-over-year [1][4][10] Financial Performance - Earnings per share (EPS) were $2.03, surpassing the Zacks Consensus Estimate of $1.96 by 3.6%, but down 22.2% from $2.61 year-over-year [4] - Total revenues reached $6.89 billion, a decrease of 9.5% year-over-year, yet exceeded analysts' expectations of $6.71 billion by 2.7% [4] - The consolidated pre-tax profit margin was 11.6%, down from 14.6% a year ago [5] Segment Performance - Homebuilding revenues were $6.53 billion, down 9% from the prior-year quarter, with home sales at $6.51 billion, an 8.9% decline year-over-year [6] - Home closings decreased by 6.5% to 17,818 homes, while net sales orders improved by 2.6% year-over-year to 18,300 units [6] - The value of net orders slightly increased by 0.1% year-over-year to $6.66 billion, with a cancellation rate of 18%, consistent with the previous year [6] - The sales order backlog was 11,376 homes, up 3.4% year-over-year, with a backlog value of $4.31 billion, a 0.3% increase [7] Liquidity and Capital Management - D.R. Horton had cash, cash equivalents, and restricted cash totaling $2.55 billion as of Dec. 31, 2025, down from $3.03 billion at the end of fiscal 2025 [11] - Total liquidity was reported at $6.6 billion [11] - The company repurchased 4.4 million shares for $669.7 million during the fiscal quarter, with a remaining stock repurchase authorization of $2.6 billion [13] Guidance and Outlook - D.R. Horton expects consolidated revenues for fiscal 2026 to be in the range of $33.5-$35 billion, compared to $34.25 billion in fiscal 2025 [14] - Anticipated homes closed are projected to be between 86,000-88,000, up from 84,863 in fiscal 2025 [14] - The company expects cash flow from operations to be at least $3 billion, with an income tax rate of approximately 24.5% [14]

Core Insights - D.R. Horton, Inc. (DHI) reported mixed results for Q4 fiscal 2025, with earnings missing estimates while total revenues exceeded expectations, although both metrics declined year-over-year [2][7][11] Financial Performance - Adjusted earnings were $3.04 per share, missing the Zacks Consensus Estimate of $3.29 by 7.6%, and down 22% from $3.92 year-over-year [7] - Total revenues reached $9.68 billion, a decrease of 3.2% year-over-year, but surpassed analysts' expectations of $9.5 billion by 1.9% [7] - The consolidated pre-tax profit margin was 12.4%, down from 17.1% a year ago [8] Segment Performance - Homebuilding revenues were $8.56 billion, down 4% year-over-year, with home sales at $8.54 billion, also down 4.4% [9] - Home closings decreased by 1% year-over-year to 23,368 homes [9] - Financial Services revenues decreased by 1.7% to $218.3 million [11] - Forestar contributed $670.5 million to total revenues, up from $551.4 million a year ago [12] Market Conditions - The housing market remains soft due to declining consumer confidence and affordability concerns, impacting home closings and backlog levels [3][4] - The sales order backlog decreased by 11.5% year-over-year to 10,785 homes, with a backlog value down 13.6% to $4.12 billion [10] Strategic Initiatives - The company is offering sales incentives to drive traffic and sales, although this negatively impacts margins [4] - D.R. Horton maintains strong liquidity of $6.6 billion and a low debt-to-total capital ratio of 19.8% [14][15] Dividend and Share Repurchase - The quarterly dividend was increased by 13% to 45 cents per share, to be paid on Nov. 20, 2025 [6] - The company repurchased 30.7 million shares for $4.3 billion during fiscal 2025, with $3.3 billion remaining in stock repurchase authorization [16] Future Guidance - For fiscal 2026, D.R. Horton expects consolidated revenues between $33.5 billion and $35 billion, with homes closed anticipated to be between 86,000 and 88,000 [17]

Core Viewpoint - D.R. Horton, Inc. (DHI) reported better-than-expected third-quarter fiscal 2025 results, with earnings and total revenues exceeding Zacks Consensus Estimate but showing a decline year-over-year [1][5]. Financial Performance - Adjusted earnings were $3.36 per share, surpassing the Zacks Consensus Estimate of $2.90 by 15.9%, but down 18% from $4.10 a year ago [5][10]. - Total revenues reached $9.23 billion, a decrease of 7% year-over-year, yet exceeding analysts' expectations of $8.78 billion by 5.1% [6][10]. - The consolidated pre-tax profit margin was 14.7%, down from 18.1% a year ago [6]. Segment Performance - Homebuilding revenues were $8.58 billion, down 7% from the prior-year quarter, with home sales at $8.56 billion, a 7.3% decline year-over-year [7]. - Home closings decreased by 4% to 23,160 homes [7]. - Financial Services revenues fell 6% year-over-year to $227.8 million [9]. - The Rental business generated revenues of $380.7 million, down from $413.7 million a year ago [11]. Market Conditions - The housing market remains soft due to declining consumer confidence and affordability concerns, impacting home closings and average selling prices [2]. - The backlog of homes decreased by 16% year-over-year to 14,075 homes, with the backlog value down 19% to $5.3 billion [8][10]. Operational Insights - The company maintains strong liquidity with cash and equivalents totaling $2.66 billion and total liquidity of $5.5 billion [12]. - D.R. Horton has a disciplined approach to capital allocation and flexible lot supply, positioning it to adapt to market conditions [4]. Guidance and Future Outlook - D.R. Horton updated its fiscal 2025 guidance, now expecting consolidated revenues between $33.7 billion and $34.2 billion, down from the previous range of $33.3 billion to $34.8 billion [15]. - Homes closed are anticipated to be between 85,000 and 85,500, compared to the previous expectation of 85,000 to 87,000 [15].

Core Viewpoint - D.R. Horton, Inc. reported disappointing second-quarter fiscal 2025 results, with earnings and total revenues falling short of expectations and declining year-over-year [1][5]. Financial Performance - Adjusted earnings per share were $2.58, missing the Zacks Consensus Estimate of $2.66 by 3%, and down from $3.52 in the same quarter last year [5]. - Total revenues amounted to $7.73 billion, a 15% decrease year-over-year, and also missed analysts' expectations of $8.09 billion by 4.4% [5]. - The consolidated pre-tax profit margin was 13.8%, down from 16.8% a year ago [6]. Segment Performance - Homebuilding revenues were $7.2 billion, a 15% decline from the prior-year quarter, with home sales at $7.18 billion, down 15.2% year-over-year [7]. - Net sales orders decreased by 15% year-over-year to 22,437 homes, with the value of net orders dropping 17% to $8.4 billion [8]. - Financial Services revenues fell by 5.6% to $212.9 million, while the Rental business generated $144.2 million, down from $301.3 million a year ago [9]. Market Conditions - The housing market remains soft due to declining consumer confidence and affordability concerns, leading to lower net sales orders and weak contributions from rental operations and financial services [2]. - The cancellation rate on gross sales orders was 16%, slightly up from 15% a year ago [8]. Balance Sheet and Liquidity - As of March 31, 2025, D.R. Horton had cash and equivalents totaling $2.52 billion, down from $4.54 billion at the end of fiscal 2024, with total liquidity at $5.8 billion [10][11]. - The company had a debt of $6.5 billion, with a debt-to-total capital ratio of 21.1% [11]. Share Repurchase and Guidance - D.R. Horton repurchased 16.5 million shares for $2.4 billion in the first half of fiscal 2025, with a remaining stock repurchase authorization of $1.2 billion [12]. - The updated fiscal 2025 guidance expects consolidated revenues between $33.3 billion and $34.8 billion, down from a previous range of $36 billion to $37.5 billion [13].