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].

Group 1 - PulteGroup Inc (NYSE:PHM) shares increased by 9.4% to $118.81 after exceeding second-quarter earnings and revenue estimates, aided by buyer incentives [1] - Wedbush raised PulteGroup's price target from $135 to $150 following the earnings report [1] - PulteGroup's stock is up 8.2% year-to-date and has surpassed resistance at the 320-day moving average, reaching its highest levels since late January [1] Group 2 - D.R. Horton Inc (NYSE:DHI) shares rose by 13.8% to $149.47, marking its best day since April 2020, after reporting better-than-expected fiscal third-quarter earnings and revenue [4] - D.R. Horton is now showing a 7.3% year-to-date gain and has broken into positive territory for 2025 [4] - Options trading for D.R. Horton is significantly higher, with 15,000 calls and 11,000 puts traded, which is eight times the typical volume [5]

Core Insights - Century Communities, Inc. is launching Park Grove, a new community in Jacksonville, Florida, featuring modern homes and a prime location near key amenities [1][5][11] Group 1: Community Overview - Park Grove will offer new construction homes with two versatile floor plans: Auburn and Berkshire, designed with modern features such as stainless-steel appliances and quartz countertops [3][4] - The community is strategically located near Jacksonville International Airport and major highways, providing easy access to urban conveniences and coastal areas [1][5] Group 2: Home Features - Homes will feature open-concept layouts with up to 4 bedrooms, 3 bathrooms, and a maximum of 1,965 square feet, emphasizing quality and comfort [8] - The design includes sunlit great rooms, owner's suites with walk-in closets, and luxury vinyl-plank flooring [8] Group 3: Accessibility and Amenities - Park Grove is located within four miles of River City Marketplace and is close to attractions like the Jacksonville Zoo and Botanical Gardens, as well as Fernandina Beach and Jacksonville Beach [5][8] - The community will also benefit from the innovative online homebuying process offered by Century Complete, allowing buyers to purchase homes conveniently [9][11]

Market Overview - Pre-market futures are showing slight increases with the Dow and S&P 500 up by +9 points and Nasdaq up by +4 points [1] - Bond yields are decreasing, with the 10-year yield at +4.36%, the 2-year at +3.84%, and the 30-year down to +4.94% [1] Company Earnings Reports - General Motors (GM) reported Q2 earnings of $2.53 per share, exceeding expectations by +5.86%, with revenues of $47.98 billion, surpassing estimates by +1.89%. However, North American EBIT fell below expectations, leading to a -1.8% drop in shares [2] - Lockheed Martin (LMT) had a strong Q2 with earnings of $7.29 per share, a +12.33% surprise, but revenues of $18.2 billion were below consensus, resulting in a -7% pre-market decline. Northrop Grumman (NOC) reported earnings of $7.11 per share, exceeding estimates by +5.96%, and revenues surpassed expectations by +2.94%, leading to a +3% increase in shares [3] - D.R. Horton (DHI) reported Q3 earnings of $3.36 per share, exceeding consensus by +15.86%, with revenues of $9.23 billion, surpassing expectations by +5.13%. Shares rose by +6% [4] - Coca-Cola (KO) reported Q2 earnings of 87 cents per share, beating expectations of 83 cents, but revenues of $12.54 billion fell short by -0.44%. Shares are down modestly but up +12% year to date [5] - Sherwin-Williams (SHW) missed earnings expectations by -10.11% with $3.38 per share, although revenues of $6.31 billion slightly exceeded estimates by +0.49%. Shares fell by -4% [6] Upcoming Earnings Reports - Key earnings reports expected after market close include Texas Instruments (TXN), Capital One (COF), and Intuitive Surgical (ISRG). TXN anticipates double-digit growth in both earnings and revenues, COF expects over +20% gains, and ISRG projects +8% earnings growth and +16.8% revenue growth [7]

Market Overview - Pre-market futures are showing slight increases with the Dow and S&P 500 up by +9 points and Nasdaq up by +4 points [1] - Bond yields are decreasing, with the 10-year yield at +4.36%, the 2-year at +3.84%, and the 30-year down to +4.94% [1] Q2 Earnings Reports - General Motors (GM) reported earnings of $2.53 per share, exceeding expectations by +5.86%, with revenues of $47.98 billion, surpassing estimates by +1.89%. However, North American EBIT fell below expectations, leading to a -1.8% drop in shares [2] - Lockheed Martin (LMT) had a strong earnings surprise of +12.33% with earnings of $7.29 per share, but revenues of $18.2 billion were below consensus, resulting in a -7% pre-market decline. Northrop Grumman (NOC) reported earnings of $7.11 per share, exceeding estimates by +5.96% and outperforming on revenue by +2.94%, leading to a +3% increase in shares [3] - D.R. Horton (DHI) reported earnings of $3.36 per share, beating consensus by +15.86%, with revenues of $9.23 billion, exceeding expectations by +5.13%. Shares rose by +6% [4] - Coca-Cola (KO) reported earnings of 87 cents per share, beating expectations of 83 cents, but revenues of $12.54 billion fell short by -0.44%, leading to a modest decline in shares [5] - Sherwin-Williams (SHW) missed earnings expectations by -10.11% with earnings of $3.38 per share, although revenues of $6.31 billion slightly exceeded estimates by +0.49%, resulting in a -4% drop in shares [6] Upcoming Earnings Expectations - Key earnings reports expected after market close include Texas Instruments (TXN), Capital One (COF), and Intuitive Surgical (ISRG). TXN anticipates double-digit growth in both earnings and revenues, COF expects over +20% growth, and ISRG forecasts +8% earnings growth and +16.8% revenue growth [7]

As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately. Here is how PulteGroup performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts: View all Key Company Metrics for PulteGroup here>>> The reported revenue represents a surprise of +0.8% over the Zacks Consensus Estimate of $4.37 billion. With the con ...

D.R. Horton (DHI) reported $9.23 billion in revenue for the quarter ended June 2025, representing a year-over- year decline of 7.4%. EPS of $3.36 for the same period compares to $4.10 a year ago. Here is how D.R. Horton performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts: View all Key Company Metrics for D.R. Horton here>>> Shares of D.R. Horton have returned +2% over the past month versus the Zacks S&P 500 composite's +5.9% change. The ...

Shares of D.R. Horton rose the most in more than five years as the homebuilder posted earnings that beat expectations even as the US housing market remains sluggish https://t.co/l5iHMzVWXg ...

Core Insights - Wall Street analysts expect Taylor Morrison Home (TMHC) to report quarterly earnings of $1.94 per share, reflecting a year-over-year decline of 1.5% [1] - Revenue is anticipated to be $1.96 billion, down 1.3% from the same quarter last year [1] - The consensus EPS estimate has remained unchanged over the past 30 days, indicating a reassessment of projections by analysts [1] Revenue Estimates - Analysts project 'Revenue- Home closings' to reach $1.88 billion, indicating a year-over-year decrease of 2.1% [4] - 'Revenue- Financial services revenue' is expected to be $49.85 million, showing a year-over-year increase of 1.9% [4] - 'Revenue- Land closings' is forecasted to be $17.50 million, reflecting a significant year-over-year increase of 32.2% [4] Additional Revenue Metrics - 'Revenue- Amenity and other revenue' is likely to reach $35.00 million, representing a substantial year-over-year increase of 298.8% [5] - 'Ending Active Selling Communities' is estimated at 345, slightly down from 347 in the previous year [5] - 'Net sales orders' are projected to be 3,096, down from 3,111 year-over-year [5] Sales and Pricing Metrics - 'Homes Closed' is expected to be 3,193, compared to 3,200 in the previous year [6] - The 'Average sales price of homes closed' is anticipated to be $585.11 thousand, down from $600.00 thousand year-over-year [6] - The consensus for 'Average Selling Price - Sales Order Backlog' stands at $668.86 thousand, slightly lower than the $671.00 thousand reported in the same quarter last year [7] Market Performance - Over the past month, shares of Taylor Morrison have returned +2.2%, while the Zacks S&P 500 composite has changed by +5.9% [7] - TMHC currently holds a Zacks Rank 5 (Strong Sell), indicating potential underperformance relative to the overall market in the near future [7]

Financial Data and Key Metrics Changes - Earnings for Q3 2025 were $3.36 per diluted share, down from $4.10 in the prior year quarter [11] - Consolidated revenues for the quarter were $9.2 billion, with a pre-tax income of $1.4 billion and a pre-tax profit margin of 14.7% [7][11] - Net income for the quarter was $1 billion, with home sales revenues of $8.6 billion on 23,160 homes closed, compared to $9.2 billion on 24,155 homes closed in the prior year quarter [11][12] - The cancellation rate for the quarter was 17%, up from 16% sequentially but down from 18% in the prior year quarter [12] Business Line Data and Key Metrics Changes - Home sales gross margin was 21.8%, stable sequentially but expected to decrease in Q4 due to increased sales incentives [13] - Homebuilding SG&A expenses increased 2% year-over-year, with SG&A as a percentage of revenues at 7.8%, up 70 basis points from the prior year [14] - Rental operations generated $55 million of pre-tax income on $381 million of revenues from single-family and multifamily rental homes [18] Market Data and Key Metrics Changes - The average closing price for the quarter was $369,600, down 1% sequentially and down 3% year-over-year [11] - The average number of active selling communities was up 4% sequentially and up 12% year-over-year [12] - The company ended the quarter with 38,400 homes in inventory, of which 25,000 were unsold [16] Company Strategy and Development Direction - The company remains focused on maximizing capital efficiency and generating substantial operating cash flows while delivering returns to shareholders [9] - The strategic relationship with Forestar, a majority-owned residential lot development company, is vital for providing finished lots to the homebuilding industry [20] - The company plans to repurchase $4.2 billion to $4.4 billion of common stock in fiscal 2025, subject to cash flow and share price changes [24] Management's Comments on Operating Environment and Future Outlook - Management noted that new home demand is impacted by affordability constraints and cautious consumer sentiment, with expectations for elevated sales incentives in Q4 [10] - The company has a positive outlook for the housing market over the medium to long term, despite current economic volatility [25] - Management expects consolidated revenues for the full year of fiscal 2025 to be approximately $33.7 billion to $34.2 billion [24] Other Important Information - The company has a strong balance sheet with low leverage and healthy liquidity, totaling $5.5 billion of consolidated liquidity at June 30 [22] - The return on equity for the trailing twelve months ended June 30 was 16.1%, with a return on assets of 11.1% [23] - The company repurchased 9.7 million shares during the quarter for $1.2 billion, reducing the outstanding share count by 9% from a year ago [23] Q&A Session Summary Question: Trends in incentives and competitive pressures - Management indicated that incentives have been choppy throughout the quarter, responding to market conditions and competition [30] Question: Consumer strength and impact of student loan repayments - Management noted an increase in FHA product selection among buyers but did not see significant impacts from student loan repayments [34] Question: Fourth quarter gross margin outlook - Management expects a decline in gross margin due to higher incentives, despite a strong performance in Q3 [39] Question: Community count and market management - Management anticipates moderation in community count as they manage inventory and respond to market absorption rates [56] Question: Resale inventory competition - Management does not see significant competition from resale inventory, as new home construction remains attractive to buyers [82]