DHI

Wall Street expects a year-over-year decline in earnings on lower revenues when D.R. Horton (DHI) reports results for the quarter ended September 2026. While this widely-known consensus outlook is important in gauging the company's earnings picture, a powerful factor that could impact its near-term stock price is how the actual results compare to these estimates. The earnings report, which is expected to be released on October 29, might help the stock move higher if these key numbers are better than expectations. On the other hand, if they miss, the stock may move lower. While management's discussion of business conditions on the earnings call will mostly determine the sustainability of the immediate price change and future earnings expectations, it's worth having a handicapping insight into the odds of a positive EPS surprise. This homebuilder is expected to post quarterly earnings of $3.03 per share in its upcoming report, which represents a year-over-year change of -0.3%. Revenues are expected to be $9.04 billion, down 6.6% from the year-ago quarter. The consensus EPS estimate for the quarter has been revised 3.43% lower over the last 30 days to the current level. This is essentially a reflection of how the covering analysts have collectively reassessed their initial estimates over this period. Investors should keep in mind that an aggregate change may not always reflect the direction of estimate revisions by each of the covering analysts. Price, Consensus and EPS Surprise Estimate revisions ahead of a company's earnings release offer clues to the business conditions for the period whose results are coming out. This insight is at the core of our proprietary surprise prediction model -- the Zacks Earnings ESP (Expected Surprise Prediction). The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a more recent version of the Zacks Consensus EPS estimate. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier. Thus, a positive or negative Earnings ESP reading theoretically indicates the likely deviation of the actual earnings from the consensus estimate. However, the model's predictive power is significant for positive ESP readings only. A positive Earnings ESP is a strong predictor of an earnings beat, particularly when combined with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold). Our research shows that stocks with this combination produce a positive surprise nearly 70% of the time, and a solid Zacks Rank actually increases the predictive power of Earnings ESP. Please note that a negative Earnings ESP reading is not indicative of an earnings miss. Our research shows that it is difficult to predict an earnings beat with any degree of confidence for stocks with negative Earnings ESP readings and/or Zacks Rank of 4 (Sell) or 5 (Strong Sell). For D.R. Horton, the Most Accurate Estimate is lower than the Zacks Consensus Estimate, suggesting that analysts have recently become bearish on the company's earnings prospects. This has resulted in an Earnings ESP of -0.51%. On the other hand, the stock currently carries a Zacks Rank of #4. So, this combination makes it difficult to conclusively predict that D.R. Horton will beat the consensus EPS estimate. While calculating estimates for a company's future earnings, analysts often consider to what extent it has been able to match past consensus estimates. So, it's worth taking a look at the surprise history for gauging its influence on the upcoming number. For the last reported quarter, it was expected that D.R. Horton would post earnings of $2.99 per share when it actually produced earnings of $3.20, delivering a surprise of +7.02%. Over the last four quarters, the company has beaten consensus EPS estimates three times. An earnings beat or miss may not be the sole basis for a stock moving higher or lower. Many stocks end up losing ground despite an earnings beat due to other factors that disappoint investors. Similarly, unforeseen catalysts help a number of stocks gain despite an earnings miss. That said, betting on stocks that are expected to beat earnings expectations does increase the odds of success. This is why it's worth checking a company's Earnings ESP and Zacks Rank ahead of its quarterly release. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported. D.R. Horton doesn't appear a compelling earnings-beat candidate. However, investors should pay attention to other factors too for betting on this stock or staying away from it ahead of its earnings release. Among the stocks in the Zacks Building Products - Home Builders industry, Meritage Homes (MTH), is soon expected to post earnings of $1.18 per share for the quarter ended September 2026. This estimate indicates a year-over-year change of -15.1%. This quarter's revenue is expected to be $1.31 billion, down 7.5% from the year-ago quarter. Over the last 30 days, the consensus EPS estimate for Meritage has been revised 4.4% down to the current level. Nevertheless, the company now has an Earnings ESP of -5.12%, reflecting a lower Most Accurate Estimate. When combined with a Zacks Rank of #5 (Strong Sell), this Earnings ESP makes it difficult to conclusively predict that Meritage will beat the consensus EPS estimate. Over the last four quarters, the company surpassed consensus EPS estimates two times. Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report D.R. Horton, Inc. (DHI) : Free Stock Analysis Report Meritage Homes Corporation (MTH) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

Arlington, Texas-based D.R. Horton, Inc. (DHI) operates as a homebuilding company in the East, North, Southeast, South Central, Southwest, and Northwest regions in the United States. The company has a market capitalization of $37.7 billion and engages in the acquisition and development of land and the construction and sale of residential homes in 126 markets across 36 states under the name D.R. Horton. The company is expected to release its Q4 2026 earnings on Thursday, October 29, before the market opens. Ahead of the event, analysts expect the company's EPS to be $3.03 on a diluted basis, down marginally from $3.04 in the year-ago quarter. The company has exceeded Wall Street's EPS estimates in three of its last four quarters, while missing on one quarter. - 'When You Say I Should Pay $100 Billion, Then I'm Starting To Do A Little Math': Bill Gates Said He'd Happily Pay 'Over $10 Billion In Taxes' But Some Are Asking Too Much - How to Play Rivian Stock as RIVN Keeps Falling Despite Record Deliveries - Dan Ives Calls SpaceX's $40B Nvidia Chip Debt Plan a 'Smart Move' - Our exclusive Barchart Brief newsletter is your FREE midday guide to what's moving stocks, sectors, and investor sentiment - delivered right when you need the info most. Subscribe today! For fiscal 2026, analysts project the company's EPS to be $10.44, down 9.8% from $11.57 in fiscal 2025. However, its EPS is expected to rise by roughly 9.4% year over year (YoY) to $11.42 in fiscal 2027. DHI stock has declined 10.9% over the past 52 weeks, underperforming the S&P 500 Index's ($SPX) 16% rise and the State Street Consumer Cyclical Select Sector SPDR ETF's (XLY) 4.1% fall during the same time frame. DHI stock dropped marginally following the release of its Q3 2026 earnings on July 21. The company's revenue for the quarter remained flat from the previous year's quarter, coming in at $9.2 billion and came in line with the Street's estimates. Moreover, its adjusted EPS for the quarter amounted to $3.20, surpassing the consensus estimates. However, the company dropped its revenue guidance for the full year to $32.75 billion at the midpoint from $34 billion, marking a 3.7% decline and degrading investor confidence. Analysts are neutral on DHI, with the stock currently rated "Hold." Among the 22 analysts covering the stock, five are recommending a "Strong Buy," 15 suggest a "Hold," and two recommend "Strong Sell" for the stock. DHI's average analyst price target is $155.94, indicating an upside of 15.6% from the current levels. On the date of publication, Aritra Gangopadhyay did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on Barchart.com

Interested in Lennar Corporation? Here are five stocks we like better. Lennar missed already-lowered earnings estimates in fiscal Q3 2026, sending shares to a new 52-week low near $76.07. Other major homebuilders, including D.R. Horton and PulteGroup, are reporting similarly weak revenue growth and rising cancellation rates amid affordability pressures. Elevated mortgage rates near 7%, high home prices, and growing resale inventory in states like Florida continue to pressure the broader housing market. Wall Street analysts had already set a relatively low bar for Lennar's (NYSE: LEN) fiscal Q3 2026 earnings, reflecting expectations of continued pressure on the homebuilder amid a challenging housing market. The stock carried a consensus Reduce rating, while analysts expected earnings per share (EPS) of $1.29—about 35% below the year-ago quarter—and revenue of $8.32 billion. But Lennar still fell short, reporting adjusted EPS of $1.23 on revenue of $8.05 billion. → NVIDIA Just Named AI's Next Bottleneck—And These 3 Stocks Sit Right In It Shares responded by falling to a new 52-week low the following day, trading as low as $76.07. The earnings report was a disappointment to shareholders who have endured a more than 25% year-to-date loss, and a one-year loss now exceeding 42%. → These 3 Stocks Under $20 Have Wall Street Looking Past the Share Price But the bigger takeaway is what Lennar’s miss suggests about the broader housing market: affordability pressures, elevated mortgage rates, and rising resale competition are increasingly weighing on even the nation’s largest homebuilders. The earnings call wasn’t without positive takeaways. Lennar delivered 20,840 homes last quarter and improved its gross margin on home sales to 15.8%. Incentives averaged approximately 12.0% of the sales price in Q3, down from 12.9% in Q2, as the company reduced its reliance on rate buydowns, closing-cost assistance, and other buyer incentives. → These 3 Stocks Sit at the Center of NVIDIA’s Cybersecurity Push The company maintains a strong cash position, with $1.2 billion on the books, in addition to $3.6 billion in total liquidity, with 98% of homesites controlled through third-party land arrangements. Lennar also repurchased 3 million shares at a cost of $256 million in Q3, paid $119 million in dividends, and redeemed $400 million in debt. But management was cautious when issuing Q4 guidance, which calls for between 22,000 and 23,000 deliveries, gross margins between 15.5% and 16%, and EPS in a range of $1.30 to $1.65. Notably, the company cautioned that those results remain highly dependent on labor availability, resale competition, volatile rates, and broader market conditions. Those conditions are an immediate and real challenge. Lennar’s disappointing Q3 isn’t an isolated issue. Amid the surge in 10-year bond rates over the past two weeks, homebuilders continue to grapple with 30-year fixed mortgage rates around 7%—less than 100 basis points from the highest levels since 2000—which are eroding potential homebuyers’ purchasing power. Meanwhile, the housing market has largely stagnated as low consumer confidence and affordability issues persist. According to FRED data, the median sales price of new homes in the United States was $410,700 in the second quarter, marking a nearly 30% increase over the median home price in Q2 2020. At the same time, resale inventory—particularly in some of the hottest housing markets in the country like Texas and Florida—continues to increase, thereby creating more competition for homebuilders. After hitting a 10-year low of 35,586 active listings in February 2022, FRED data shows that in August, Florida had nearly 147,000 active listings, marginally down from its 10-year high of 182,593 in April 2025. Lennar’s disappointing Q3 isn’t an isolated issue. Instead, it is part of a larger mosaic of homebuilders all dealing with the same headwinds. When America’s largest homebuilder, D.R. Horton (NYSE: DHI), reported its Q3 results on July 21, year-over-year (YOY) revenue growth was virtually flat at 0.02%. In Q2, that figure was negative 2.27% YOY, while in Q1 it was negative 9.54% YOY. During the company’s earnings call, management highlighted how affordability constraints and cautious consumer sentiment have weighed on demand. D.R. Horton’s Q3 orders were flat YOY, while its cancellation rate rose to 20% from 17% the year prior. PulteGroup (NYSE: PHM) hasn’t fared much better. When it reported Q2 earnings on July 22, revenue of $3.98 billion marked a 9.6% YOY decrease, following a 12.44% drop in Q1. In his earnings call comments, CEO Ryan Marshall noted that “consumer activity was impacted to varying degrees by global tensions, macroeconomic uncertainty, and the material movement in interest rates.” In June, the market was positioning for a potential interest rate cut that could have served as a boon to the housing market. But inflation remained elevated, and the Federal Reserve shifted back toward tightening. At its Sept. 16 FOMC meeting, the central bank announced a 25-basis-point rate hike—its first since 2023. The rate hike reduces the likelihood of near-term relief for homebuilders that had been hoping lower borrowing costs would help revive buyer demand. Lennar is facing many of the same challenges confronting D.R. Horton, PulteGroup, and other major builders, with financing conditions likely to remain a significant headwind. Investors may want to watch mortgage-rate trends, order growth, cancellation rates, and Lennar’s use of incentives for signs that housing demand is beginning to stabilize. The article "Lennar’s Earnings Miss May Be Sending a Bigger Warning About U.S. Housing" was originally published by MarketBeat. View MarketBeat's top stocks for September 2026.

A luxury builder in a soft market has bought back enough stock to outrun three years of shrinking profits, and the question is what happens when land competes for the same cash. Toll Brothers (TOL) has gained 7.7% over the past year but slipped over the last six months, and it trades about 10% below its 52-week high, a quiet year for a builder whose management described the sales environment in August as subdued. Over the last three years, earnings per share rose while net income fell, and what closed that gap was not the business but the share count. Toll Has Bought Itself Back Faster Than Profits Fell Averaged over those three years, net income has fallen 2.8% a year while earnings per share have risen 2.3% a year. Nothing operational explains the difference; it is arithmetic. The company has retired about 5.1% of its shares a year on average across that stretch, and 4.8% in the past twelve months alone, so each remaining owner's claim on a smaller profit pool grew anyway. With the dividend added, the whole payout is a 5.3% shareholder yield, once stock compensation is netted out. A Million-Dollar Buyer, And Upgrades Across The Board That yield is funded by a narrow, wealthy slice of the housing market. The luxury move-up business, where the average home sells for about $1.35 million, was roughly 61% of home sales revenue in fiscal Q3 2026 and carries the highest margin of the company's buyer segments. The spending does not stop at signing: across Toll's buyers as a whole, upgrades, structural options and lot premiums averaged $207,000 a home in the quarter, and management says design studio work of that sort is highly accretive to margin. Pricing holds best where it matters most: the more expensive the home, the smaller the incentive as a share of its price. Growth Gets The Cash Before Shareholders Do Free cash flow covers the buybacks and dividends about 1.6 times over, but the payout is not what that cash is aimed at first. Management puts growth first in the capital-allocation order and funds repurchases out of the operating cash flow that is left, and growth here means land: roughly $452 million spent on land acquisition in fiscal Q3 2026, against $2.65 billion of home sales revenue in that quarter. So far that cash flow has covered both, and the fiscal 2026 repurchase plan was raised to $700 million from $650 million. Net debt runs at about 1.1 times EBITDA, a moderate load rather than a stretched one. Balance sheets of that kind are a standing feature of the Trefis High Quality Portfolio's holdings. Cheap Against Earnings That Still Move With The Cycle At 10.9 times trailing earnings, the market is not asking much for the engine. That is a case for patience rather than a promise. Over three years the stock returned 96% in price, though it was up 119% at its peak and has handed some of that back, and buybacks were only one contributor alongside a moving multiple. The engine is real and funded; the profits it works on have shrunk over the last three years, and management, four years into a difficult housing market, is not yet calling a bottom. Whether the retirement pace survives a leaner year is the open question, and the dividend and buyback record is where the answer shows up first. A Cheap Compounder Is Still One Cyclical Bet An engine that quietly retires stock is worth owning, but it sits inside one industry and one housing cycle. Investors who want that compounding spread across many businesses rather than one builder can start with the Trefis High Quality Portfolio. That portfolio has a track record of outpacing the three major indices - the S&P 500, S&P Mid-cap, and Russell 2000.

As the craze of earnings season draws to a close, here’s a look back at some of the most exciting (and some less so) results from Q2. Today, we are looking at home builders stocks, starting with D.R. Horton (NYSE:DHI). Traditionally, homebuilders have built competitive advantages with economies of scale that lead to advantaged purchasing and brand recognition among consumers. Aesthetic trends have always been important in the space, but more recently, energy efficiency and conservation are driving innovation. However, these companies are still at the whim of the macro, specifically interest rates that heavily impact new and existing home sales. In fact, homebuilders are one of the most cyclical subsectors within industrials. The 10 home builders stocks we track reported a mixed Q2. As a group, revenues beat analysts’ consensus estimates by 0.6%. In light of this news, share prices of the companies have held steady as they are up 2.5% on average since the latest earnings results. One of the largest homebuilding companies in the U.S., D.R. Horton (NYSE:DHI) builds a variety of new construction homes across multiple markets. D.R. Horton reported revenues of $9.23 billion, flat year on year. This print was in line with analysts’ expectations, but overall, it was a slower quarter for the company with full-year revenue guidance missing analysts’ expectations significantly. David Auld, Executive Chairman, said: “The D.R. Horton team delivered a solid third quarter, highlighted by earnings per diluted share of $3.20, consolidated pre-tax income of $1.2 billion, revenues of $9.2 billion and a pre-tax profit margin of 13.3%." Interestingly, the stock is up 2.9% since reporting and currently trades at $148.98. Read our full report on D.R. Horton here, it’s free. Founded in 1977, Installed Building Products (NYSE:IBP) is a company specializing in the installation of insulation, waterproofing, and other complementary building products for residential and commercial construction. Installed Building Products reported revenues of $777.8 million, up 2.3% year on year, outperforming analysts’ expectations by 4.4%. The business had a stunning quarter with an impressive beat of analysts’ EBITDA and EPS estimates. Installed Building Products delivered the biggest analyst estimate beat of the whole group. The market seems content with the results as the stock is up 1.4% since reporting. It currently trades at $244.81. Is now the time to buy Installed Building Products? Access our full analysis of the earnings results here, it’s free. Known for its unique land acquisition strategy, NVR (NYSE:NVR) is a respected homebuilder and mortgage company in the United States. NVR reported revenues of $2.33 billion, down 10.5% year on year, falling short of analysts’ expectations by 3.9%. It was a disappointing quarter as it posted a significant miss of analysts’ EPS estimates. NVR delivered the weakest performance against analyst estimates in the group. The stock is flat since the results and currently trades at $6,400. Read our full analysis of NVR’s results here. Started by two brothers who started by building and selling just one home in Pennsylvania, today Toll Brothers (NYSE:TOL) is a luxury homebuilder across the United States. Toll Brothers reported revenues of $2.66 billion, down 9.7% year on year. This print topped analysts’ expectations by 1.6%. Overall, it was a strong quarter as it also put up a beat of analysts’ EPS estimates. The stock is up 3.2% since reporting and currently trades at $147.49. Read our full, actionable report on Toll Brothers here, it’s free. Having delivered over 850,000 homes since its founding in 1950, PulteGroup (NYSE:PHM) is one of America's largest homebuilders, constructing single-family homes, townhouses, and condominiums for first-time, move-up, and active adult buyers across 46 markets in 25 states. PulteGroup reported revenues of $3.98 billion, down 9.6% year on year. This result surpassed analysts’ expectations by 1.1%. It was a strong quarter as it also produced a beat of analysts’ EPS estimates. The stock is up 4.3% since reporting and currently trades at $129.63. Read our full, actionable report on PulteGroup here, it’s free. Over the past year, investors have been forced to repeatedly answer the same question: what is the market’s biggest risk? The answer has changed several times, and each shift has reshaped market leadership. Late in 2025 and early 2026, artificial intelligence became the market’s primary uncertainty. Investors questioned whether AI would erode software pricing power and weaken competitive moats as AI made it easier to replicate once-differentiated products. By the spring, technology took a back seat to geopolitics. The U.S. conflict with Iran briefly became the market’s dominant narrative, raising concerns about oil prices, inflation, and global growth. But as energy markets remained orderly and fears of a prolonged supply disruption faded, investors quickly turned their focus back to fundamentals. Want to invest in winners with rock-solid fundamentals? Check out our Top 6 Stocks and add them to your watchlist. These companies are poised for growth regardless of the political or macroeconomic climate.

It has been about a month since the last earnings report for PulteGroup (PHM). Shares have added about 2.4% in that time frame, underperforming the S&P 500. Will the recent positive trend continue leading up to its next earnings release, or is PulteGroup due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its latest earnings report in order to get a better handle on the important catalysts. PulteGroup reported better-than-expected second-quarter 2026 results, with adjusted earnings and total revenues topping the Zacks Consensus Estimate, but declining year over year.The quarterly results reflect reduced home-closing volumes, softer average selling prices (ASP) and margin compression. Ongoing softness in the housing market because of weaker consumer confidence and ongoing affordability challenges due to high mortgage rates hurt the top-line growth. Quarterly earnings were $2.48 per share, beating the Zacks Consensus Estimate of $2.38 by 4.2%. Earnings declined 18.2% from $3.03 in the prior-year quarter.Total revenues (Homebuilding & Financial Services) of $3.983 billion edged past the consensus mark of $3.980 billion by 0.1% but fell 9.6% year over year. Homebuilding segment’s revenues decreased 9.7% year over year to $3.89 billion. Home sale revenues fell 10.8% to $3.81 billion, reflecting weaker delivery volumes and lower average pricing. Land sale and other revenues increased to $78.9 million from $34.6 million.The number of homes closed declined 8.4% year over year to 6,997 units. Deliveries decreased across the Northeast, Midwest, Texas and West regions, while closings in the Southeast and Florida remained relatively stable. The ASP of homes delivered fell 2.7% to $544,000 from $559,000.Net new orders increased 6.4% year over year to 7,536 homes. Order growth was recorded across all buyer groups, supported by an 8% increase in average community count to 1,074. The dollar value of net new orders rose 5.1% to $4.08 billion.PulteGroup ended the quarter with a backlog of 10,966 homes, up 1.7% from the prior-year level. Backlog units increased in the Northeast, Florida, Midwest and Texas, while the Southeast and West reported declines. The value of homes in backlog slipped 0.6% to $6.80 billion. The divergence between higher units and lower value indicates that the average value of homes in backlog declined year over year, consistent with the company’s broader pricing pressure.Home sale gross margin contracted 200 basis points (bps) year over year to 25%. However, the metric improved 60 basis points sequentially from the first quarter of 2026, indicating some near-term stabilization in profitability.Selling, general and administrative (SG&A) expenses declined to $383 million from $390 million. However, as a percentage of home sale revenues, SG&A expenses increased 100 bps to 10.1%, as the lower revenue base reduced operating leverage. Financial Services revenues declined 4.2% to $96.9 million. Overall, the revenue mix reflected continued housing-market pressure as affordability constraints, volatile mortgage rates and economic uncertainty affected buyer activity.Mortgage origination volume decreased to 4,629 loans from 4,984, while origination principal fell to $1.98 billion from $2.16 billion. The mortgage capture rate improved modestly to 85.2% from 84.8%. PulteGroup ended the quarter with $1.38 billion in cash, cash equivalents and restricted cash. Notes payable totaled $1.82 billion, resulting in a debt-to-capital ratio of 12.3% and a net debt-to-capital ratio of 3.3%.Operating cash flow for the first six months of 2026 declined 58.1% year over year to $176.8 million, partly reflecting an $807.3 million increase in inventories. During the second quarter, PHM repurchased 3.1 million shares for $373 million. First-half repurchases totaled $681.2 million, representing 5.5 million shares. In the past month, investors have witnessed a downward trend in estimates revision. Currently, PulteGroup has a poor Growth Score of F, however its Momentum Score is doing a bit better with a D. However, the stock was allocated a grade of B on the value side, putting it in the top 40% for value investors. Overall, the stock has an aggregate VGM Score of D. If you aren't focused on one strategy, this score is the one you should be interested in. Estimates have been broadly trending downward for the stock, and the magnitude of these revisions indicates a downward shift. Notably, PulteGroup has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months. PulteGroup belongs to the Zacks Building Products - Home Builders industry. Another stock from the same industry, D.R. Horton (DHI), has gained 3.7% over the past month. More than a month has passed since the company reported results for the quarter ended June 2026. D.R. Horton reported revenues of $9.23 billion in the last reported quarter, representing a year-over-year change of +0%. EPS of $3.20 for the same period compares with $3.36 a year ago. D.R. Horton is expected to post earnings of $3.10 per share for the current quarter, representing a year-over-year change of +2%. Over the last 30 days, the Zacks Consensus Estimate has changed -2.5%. D.R. Horton has a Zacks Rank #3 (Hold) based on the overall direction and magnitude of estimate revisions. Additionally, the stock has a VGM Score of C. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report PulteGroup, Inc. (PHM) : Free Stock Analysis Report D.R. Horton, Inc. (DHI) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

A month has gone by since the last earnings report for D.R. Horton (DHI). Shares have added about 6.6% in that time frame, outperforming the S&P 500. But investors have to be wondering, will the recent positive trend continue leading up to its next earnings release, or is D.R. Horton due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its latest earnings report in order to get a better handle on the important catalysts. D.R. Horton reported third-quarter fiscal 2026 earnings of $3.20 per share, beating the Zacks Consensus Estimate of $2.99 by 7%. Revenues of $9.23 billion also surpassed the consensus mark of $9.19 billion by 0.5%. On a year-over-year basis, earnings declined 4.8%, while revenues increased marginally.The earnings and revenue beat were driven by higher home-closing volumes, resilient home sales margins, disciplined management of pricing and incentives, contributions from the Rental, Forestar and Financial Services businesses and the benefit of a lower diluted share count from share repurchases. However, lower profitability, elevated incentives and cautious consumer demand continued to weigh on results. Consolidated revenues totaled $9.227 billion compared with $9.225 billion in the prior-year quarter. Income before taxes declined 9.7% year over year to $1.23 billion, while the pre-tax margin contracted to 13.3% from 14.7%.Net income fell 11.7% to $904.9 million from a year ago. Cost of sales increased to $7.08 billion from $7.02 billion, while selling, general and administrative expenses rose 5% to $991.2 million.The lower earnings reflected margin pressure rather than a meaningful decline in consolidated revenues. Management continued to balance sales pace, pricing, incentives and inventory levels across its communities. Homebuilding revenues increased 1.2% year over year to $8.69 billion. Homes closed rose 4% year over year to 23,983, reaching the high end of management’s guidance range for the quarter.Homebuilding pre-tax income declined 10.1% to $1.07 billion, while the segment’s pre-tax margin narrowed to 12.3% from 13.8%. The results show that higher delivery volume was not enough to offset the effect of weaker profitability.Net sales orders totaled 23,084 homes, nearly unchanged from the prior-year quarter level of 23,071 units. The value of orders was $8.44 billion, also broadly stable year over year. The cancellation rate increased to 20% from 17% in the year-ago period. Management said that affordability constraints and cautious consumer sentiment continued to affect new-home demand.Home sales revenues increased to $8.68 billion from $8.56 billion. The home sales gross margin fell to 20.7% from 21.8%, though it improved from 20.1% in the second quarter of fiscal 2026.Gross margin before interest and other costs was 24.7%, down from 25.7% a year earlier. Management expects sales incentives to remain elevated in the fiscal fourth quarter, with incentive levels depending on demand, mortgage rates and broader market conditions. The company ended the quarter with 38,000 homes in inventory, including 23,300 unsold homes. Completed unsold homes totaled 7,600, of which 600 had been completed for more than six months.During the first nine months of fiscal 2026, 67% of homes closed were built on lots developed by Forestar or third parties, up from 65% a year ago. This structure supports D.R. Horton’s effort to maintain flexibility in its land and lot investments.Homebuilding return on inventory declined to 17% for the trailing 12 months from 22.1% a year earlier. The decrease reflected lower trailing homebuilding pre-tax income against a relatively stable average inventory base. Rental operations generated revenues of $266.1 million (down 30.1% from a year ago) from the sale of 601 single-family rental homes and 339 multifamily rental units. The segment posted pre-tax income of $31 million (down 43.4% year over year) and a pre-tax margin of 11.6% (contracted from 14.4%).Forestar sold 3,659 lots and generated revenues of $407 million (up 4.2% from a year ago). Pre-tax income was $48.7 million (up 11.7% year over year), resulting in a margin of 12% from 11.2% a year ago.Financial Services recorded revenues of $220.7 million (down 3.1% year over year) and pre-tax income of $70.3 million (down 13.5%). The segment’s pre-tax margin was down to 31.9% from 35.7% a year ago, yet making it the company’s most profitable business by margin during the quarter. D.R. Horton continued to return cash to shareholders during the quarter. The company repurchased 4.2 million shares for $615.7 million and paid $127.1 million in cash dividends. Common shares outstanding totaled 280.7 million as of June 30, 2026, down 6% year over year, while the remaining repurchase authorization was $1.1 billion.Cash, cash equivalents and restricted cash totaled $2.13 billion at quarter-end compared with $3.03 billion at the end of fiscal 2025. Total liquidity remained solid at $6.1 billion, while the debt-to-total-capital ratio was 23%. The company also had $600 million of homebuilding senior notes maturing within the next 12 months. The board declared a quarterly dividend of 45 cents per share.Cash provided by operations was $880.8 million for the first nine months of fiscal 2026 compared with $949.1 million a year ago. Trailing 12-month return on equity was 12.8%, while return on assets was 8.5%, reflecting continued profitability despite lower year-over-year earnings. D.R. Horton now expects fiscal 2026 consolidated revenues of $32.5-$33 billion, down from $33.5-$34.5 billion expected earlier. This compares with $34.25 billion in fiscal 2025.Homebuilding closings are projected to be between 83,800 and 84,300 homes (versus earlier projection of 86,000-87,500 homes). This compares with 84,863 in fiscal 2025.Income tax rate is expected to be approximately 25%.The company reiterated its expectations for at least $3 billion in operating cash flow, approximately $2.5 billion in share repurchases and about $500 million in dividend payments. It turns out, fresh estimates have trended downward during the past month. The consensus estimate has shifted -8.08% due to these changes. Currently, D.R. Horton has a subpar Growth Score of D, though it is lagging a bit on the Momentum Score front with an F. However, the stock has a grade of B on the value side, putting it in the top 40% for value investors. Overall, the stock has an aggregate VGM Score of D. If you aren't focused on one strategy, this score is the one you should be interested in. Estimates have been broadly trending downward for the stock, and the magnitude of these revisions indicates a downward shift. Notably, D.R. Horton has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report D.R. Horton, Inc. (DHI) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

Toll Brothers, Inc. TOL is scheduled to report its third-quarter fiscal 2026 results on Aug. 18, after market close.In the last reported quarter, the company’s adjusted earnings and total revenues topped the Zacks Consensus Estimate by 5.4% and 5.1%, respectively. Year over year, both metrics declined 22.3% and 7.6%, respectively.TOL’s earnings surpassed estimates in three of the trailing four quarters and missed on the remaining occasion, with an average surprise of 2.6%. The Zacks Consensus Estimate for fiscal third-quarter earnings per share (EPS) has moved south to $2.89 from $2.90 in the past 60 days. However, the revised estimate indicates a 22.3% year-over-year decline.The consensus estimate for total revenues is pegged at $2.6 billion, indicating a 11.8% year-over-year decline from $3 billion. Toll Brothers Inc. price-eps-surprise | Toll Brothers Inc. Quote RevenuesDuring the fiscal third quarter, Toll Brothers’ top-line performance is expected to have declined year over year due to ongoing uncertainties in the housing market in the United States. Homebuyers’ sentiments are likely to have been weak as affordability challenges persist amid elevated mortgage rates and an uncertain economic scenario. Per Freddie Mac, the 30-year fixed mortgage rate has climbed from 6.37% as of the week ending May 7, 2026, to 6.66% as of the week ending July 30, 2026. Demand softness across the South, Mountain and Pacific geographic segments is likely to have restricted the revenue growth.For the fiscal third quarter, TOL expects home deliveries to be between 2,600 units and 2,700 units, indicating a decline from 2,959 units delivered in the year-ago quarter. We expect home deliveries to be down 9.8% year over year to 2,669 units.Nonetheless, the strength of its luxury positioning alongside the approach of offering affordable luxury homes is encouraging. Besides, the improvements in cycle times, increased supply of spec homes and favorable pricing measures are expected to have boded well in the fiscal third quarter.For the quarter, Toll Brothers expects the average selling price (ASP) of delivered homes to be within $965,000-$985,000, up from $973,600 in the year-ago quarter. Our model expects the metric to inch up year over year by 0.6% to $979,900 in the fiscal third quarter.Earnings & MarginsThe bottom line of Toll Brothers is expected to have tumbled in the fiscal third quarter due to low leverage from weak revenue growth, higher payroll costs and marketing and insurance costs. Besides, a shift in the mix of revenues to lower-margin products in certain geographic regions is expected to have weighed on the home sales gross margin during the fiscal third quarter.For the quarter to be reported, Toll Brothers expects adjusted home sales gross margin to be 25.25%, reflecting a 225-basis point (bps) contraction year over year. The homebuilder also expects SG&A expenses (as a percentage of home sales revenues) to be about 10%, up 120 bps year over year.BacklogFor the fiscal third quarter, our model expects a total backlog of 5,257 units, down year over year by 4.3%, with potential revenues declining 2.1% to $6.24 billion. Our proven model does not conclusively predict an earnings beat for Toll Brothers this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. This is not the case here, as you will see below.TOL’s Earnings ESP: The company has an Earnings ESP of 0.00%. You can uncover the best stocks before they’re reported with our Earnings ESP Filter.TOL’s Zacks Rank: The stock currently carries a Zacks Rank of 3. You can see the complete list of today’s Zacks #1 Rank stocks here. NVR, Inc. NVR reported second-quarter 2026 results, with earnings and Homebuilding revenues missing the Zacks Consensus Estimate. Earnings and Homebuilding revenues also declined on a year-over-year basis.NVR’s quarter reflected stronger order activity and a lower cancellation rate, but fewer settlements, softer pricing and margin pressure weighed on results. Settlements fell 8% to 5,058 units from 5,475 units, limiting revenue generation during the period. Backlog units increased 9% year over year, while Homebuilding's gross margin contracted amid higher lot costs, affordability challenges and land deposit impairments.PulteGroup, Inc. PHM reported better-than-expected second-quarter 2026 results, with adjusted earnings and total revenues topping the Zacks Consensus Estimate, but declining year over year.PulteGroup’s quarterly results reflect reduced home-closing volumes, softer ASP and margin compression. Ongoing softness in the housing market because of weaker consumer confidence and affordability challenges due to high mortgage rates hurt the top-line growth. Home sale gross margin contracted 200 bps year over year to 25%.D.R. Horton, Inc. DHI reported third-quarter fiscal 2026 earnings of $3.20 per share, beating the Zacks Consensus Estimate of $2.99 by 7%. Revenues of $9.23 billion also surpassed the consensus mark of $9.19 billion by 0.5%. On a year-over-year basis, earnings declined 4.8%, while revenues increased marginally.The earnings and revenue beat were driven by higher home-closing volumes, resilient home sales margins, disciplined management of pricing and incentives, and contributions from the Rental, Forestar and Financial Services businesses. However, lower profitability, elevated incentives and cautious consumer demand continued to weigh on results. D.R. Horton now expects fiscal 2026 consolidated revenues of $32.5-$33 billion, down from $33.5-$34.5 billion expected earlier. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Toll Brothers Inc. (TOL) : Free Stock Analysis Report PulteGroup, Inc. (PHM) : Free Stock Analysis Report D.R. Horton, Inc. (DHI) : Free Stock Analysis Report NVR, Inc. (NVR) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). 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Interested in Capital One Financial Corporation? Here are five stocks we like better. Northrop Grumman beat Q2 earnings estimates and raised its 2026 guidance, citing a record $104.7 billion backlog amid ongoing defense demand tied to the war in Iran. D.R. Horton topped earnings expectations but cut its full-year delivery outlook as rising cancellations and price cuts signal a cooling housing market. Capital One and Charles Schwab both posted double beats in Q2, signaling improving momentum for the financial sector after a weak start to the year. As the second week of earnings season draws to a close, companies across several sectors are providing clues about what investors can expect for the remainder of the year. Of course, quarterly earnings and revenues are rear-facing metrics. But when combined with recent financial performances and full-year guidance, notable trends begin to emerge. Four companies—ranging from defense contractors to homebuilders to big banks—that reported earnings on Tuesday, July 21, are providing a glimpse into what the market may hold in the second half of 2026. → MarketBeat Week in Review – 07/20- 07/24 The energy sector hasn’t been the only beneficiary of the war with Iran. The ongoing war with Iran has also kept defense spending in focus, and the administration’s 2027 budget request proposes $1.5 trillion in total defense resources, although Congress has not enacted that amount. → Volatility Is Back and These 3 Market Tollbooths Are Best Positioned to Profit Northrop Grumman's (NYSE: NOC) Q2 earnings double beat offered further evidence of strong global demand for defense systems. Earnings per share (EPS) of $7.68 topped the analyst consensus of $6.82, while quarterly revenue of $10.88 billion—a 5.1% year-over-year (YOY) increase—surpassed expectations of $10.8 billion. But the biggest takeaway was that, with no end in sight for the war in Iran, Q2 serves as a precursor to what is likely to be a protracted global conflict. Northrop announced that it received net awards totaling $20 billion during the quarter, pushing its backlog to a record $104.7 billion. → 2 Stocks Built to Thrive If Inflation Refuses to Fade As a result, the company raised its 2026 sales guidance to $43.75 billion to $44.25 billion, with full-year adjusted EPS guidance of $28.60 to $29.10. Defense contractors have been pivotal in industrials’ outperformance this year. The sector ranks third with a year-to-date (YTD) gain of 15.18%, trailing only tech at 25.57% and energy at 30.84%. With institutional buying nearly doubling selling over the past 12 months, and a short interest of just 1.66% of the float, Northrop should continue to reward shareholders for the remainder of the year. With real estate stuck in limbo, homebuilder stocks have chopped around this year. D.R. Horton (NYSE: DHI) is the perfect example. Shares were up approximately 3.7% year to date (YTD) ahead of its fiscal Q3 earnings release. But now, the stock currently finds itself in one of those downtrends, After enduring six double-digit peaks or troughs, DHI is down a little over 3% YTD, and down nearly 15% from its three-month high. Much of that can be attributed to a stagnant—if not cooling—housing market. According to the latest House Market Index (HMI) survey, homebuilders cut prices by 37% in July, 35% in June, and 32% in May. That’s a bearish trend for housing, and the largest companies may be hanging their hopes on a potential interest rate cut from the Federal Reserve later this year. For D.R. Horton, that showed up in the company’s latest earnings report. EPS of $3.20 beat analyst expectations of $3.02. And while revenue of $9.23 billion beat expectations of $9.1 billion, the figure was essentially flat YOY—a concerning indicator for the housing market. Management noted that affordability constraints and cautious consumer sentiment continue to weigh on demand, with orders flat YOY and the company’s cancellation rate rising to 20% from 17% a year ago. D.R. Horton cut its full-year delivery outlook after demand softened later in the quarter, and now expects Q4 starts to be lower than Q3 while keeping gross margin roughly flat sequentially. That leaves investors with a mixed picture: The builder is still beating near-term expectations, but demand, pricing incentives, and margins remain under pressure. This year, the financials have performed third-worst among the S&P 500’s 11 sectors. But a string of earnings beats from major banks has improved the sector’s near-term momentum. The sector appears to have turned a corner, posting the third-best performance with a 7.28% gain. Capital One (NYSE: COF) and Charles Schwab (NYSE: SCHW) both posted a double beat in their Q2 earnings reports. Last year, Capital One doubled down on its efforts to challenge the duopoly of Visa (NYSE: V) and Mastercard (NYSE: MA) by expanding its in-house payment rails. Capital One completed its acquisition of Discover in May 2025, and Discover says card accounts will migrate to Capital One throughout 2026 and early 2027, with a major wave scheduled to begin July 27, 2026. On the earnings conference call, CEO Richard Fairbank said that 50% of Discover’s new-account originations were already on Capital One’s technology platform and that the company expected all new Discover originations to be on its technology stack by the end of Q3. The bank handily beat on earnings with EPS of $5.81 against analyst expectations of $4.79. However, the upshot was revenue, which rose 26.9% YOY to $15.83 billion, surpassing the consensus forecast of $15.76 billion. Meanwhile, Schwab posted record EPS and record quarterly revenue of $1.62 and $7.07 billion, respectively. Revenue increased 20.9% YOY, and management highlighted strong operating leverage and a 54.3% adjusted pre-tax profit margin. Trading activity and lending were major drivers of the quarter, with daily average trades reaching 11.9 million and bank loan balances rising to $67 billion, up 33% YOY. Looking forward, the company emphasized numerous longer-term growth initiatives, including crypto transfers, private markets, AI tools, tokenization infrastructure, and prediction markets tied to financial events. While these could expand the platform over time, they are in their early stages and therefore unlikely to materially affect 2026 results. For investors, the common thread is improving operating momentum. Both stocks may merit watchlist attention if earnings growth continues without a corresponding rise in credit or execution risk. The article "These 4 Earnings Reports Expose the Market’s Growing Economic Divide" was originally published by MarketBeat. View MarketBeat's top stocks for July 2026.

Find your next quality investment with Simply Wall St's easy and powerful screener, trusted by over 7 million individual investors worldwide. D.R. Horton (DHI) has drawn fresh investor attention after completing a large buyback program and reporting its latest quarterly results, alongside affirming its regular cash dividend. See our latest analysis for D.R. Horton. D.R. Horton’s share price has slipped recently, with a 30 day share price return of down 11.86% and a 90 day share price return of down 8.22%. However, the 5 year total shareholder return of 61.86% still reflects a solid longer term outcome, suggesting recent sentiment has cooled despite the ongoing buyback and dividend affirmation. If D.R. Horton’s recent moves have you reassessing where growth and income might come from next, it could be worth broadening your search with 18 top founder-led companies D.R. Horton has been buying back stock while the share price has eased and earnings have softened, a mix that often tempts investors to move quickly. Is this a moment to act or a case for patience until valuation lines up? D.R. Horton’s most followed narrative pegs fair value at $165.29 per share, compared with a last close of $146.76. This points to a valuation gap that depends on how investors see future housing demand, margins and buybacks developing. Read the complete narrative. Curious what sits behind that view on D.R. Horton’s absorption rates and affordability focus? The narrative relies on specific revenue growth expectations, margin paths and shrinking share count to support that fair value. Result: Fair Value of $165.29 (UNDERVALUED) Have a read of the narrative in full and understand what's behind the forecasts. However, the D.R. Horton narrative still faces pressure from affordability strains, which can require heavier incentives, along with exposure to land cost inflation squeezing margins. Find out about the key risks to this D.R. Horton narrative. The narrative and fair value estimates for D.R. Horton are built around discounted cash flows, yet the current P/E of 13.4x tells a slightly different story. It sits a touch above both the US Consumer Durables industry at 13x and the peer average at 12.9x, which implies less obvious cushion if earnings or sentiment weaken. At the same time, that 13.4x P/E is well below the fair ratio of 26.1x, a level the market could move toward if investors eventually pay more for each dollar of earnings. The gap highlights a simple tension: is today’s pricing closer to a safety margin or to a premium that needs ongoing execution to hold? See what the numbers say about this price — find out in our valuation breakdown. If the mixed tone around D.R. Horton has you on the fence, move quickly to review the underlying data and benchmarks for yourself. You can start with 2 key rewards. Before moving on from D.R. Horton, consider lining up a few fresh stock ideas that fit different goals for risk, income and growth potential. Target value opportunities by scanning companies that combine quality fundamentals with attractive pricing using the 49 high quality undervalued stocks. Strengthen your income stream by focusing on stocks that offer higher yields and consistent payouts through the 9 dividend fortresses. Prioritize resilience by filtering for companies with healthier balance sheets and sturdier fundamentals using the solid balance sheet and fundamentals stocks screener (49 results). This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Companies discussed in this article include DHI. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email [email protected]

Comfort Systems USA, Inc. FIX delivered impressive second-quarter 2026 results, with earnings and revenues surpassing the Zacks Consensus Estimate and increasing sharply year over year.The quarterly performance reflected continued strength across its end markets, robust execution by the operating teams and sustained demand that drove record backlog growth, reinforcing the company’s confidence in the business momentum. The company reported earnings per share of $12.53, which topped the Zacks Consensus Estimate of $10.38 by 20.7% and increased 91.9% from $6.53 reported in the year-ago quarter. Comfort Systems USA, Inc. price-consensus-eps-surprise-chart | Comfort Systems USA, Inc. Quote Revenues of $3.27 billion also surpassed the consensus mark of $2.94 billion by 10.96% and rose 50.3% from $2.17 billion generated in the prior-year quarter. Comfort Systems generated Mechanical segment revenues of $2.30 billion in the second quarter, up 40.1% from the prior-year quarter. The Electrical segment's revenues climbed 81.2% year over year to $969 million, reflecting strong demand across electrical contracting operations and contributions from acquisitions.Customer mix continued to underscore the dominance of technology-related work. Technology customers represented 58.7% of second-quarter consolidated revenues, followed by manufacturing at 16.4%, healthcare at 7.1%, education at 5.1% and government at 4.4%.Activity type also highlighted where project activity remained concentrated. New construction accounted for 75.1% of revenues, while existing building construction contributed 14.8%. Service projects represented 4.4% of revenues, and service calls, maintenance and monitoring comprised the remaining 5.7%, reinforcing the company's continued emphasis on large construction projects. Backlog as of June 30, 2026, totaled $14.06 billion, increasing 12.9% from $12.45 billion at March 31, 2026, and jumping 73.2% from $8.12 billion reported a year ago. On a same-store basis, backlog climbed to $13.70 billion from $8.12 billion in the year-ago period.The mix continued to skew toward the Mechanical segment, which represented 71.5% of total backlog ($10.06 billion), while the Electrical segment contributed 28.5% ($4 billion). The company also noted that approximately 65-75% of its remaining performance obligations are expected to be recognized as revenues over the next 12 months, providing healthy visibility into growth. Operating performance strengthened alongside the sharp increase in revenues. Gross profit increased to $844.2 million from $509.9 million a year ago, and gross margin expanded to 25.9% from 23.5%, reflecting improved project execution and operating leverage.Selling, general and administrative expenses increased to $287 million, but as a percentage of revenues, SG&A improved to 8.8% from 9.7%. Operating income climbed to $558 million from $299.9 million a year earlier, lifting the operating margin to 17.1% from 13.8%.Adjusted EBITDA rose to $600.5 million from $334.1 million in the year-ago quarter, while adjusted EBITDA margin expanded 300 basis points to 18.4%. As of June 30, 2026, Comfort Systems had cash and cash equivalents of $1.85 billion, up from $981.9 million at 2025-end. Long-term debt declined to $53.8 million from $139.1 million at Dec. 31, 2025, further strengthening the company's balance sheet.During the first six months of 2026, net cash provided by operating activities totaled $1.53 billion compared with $164.5 million in the year-ago period. Free cash flow increased to $1.24 billion from $113.1 million a year earlier. During the quarter, the company also paid dividends of 80 cents per share and continued repurchasing shares, reflecting its robust cash generation and shareholder return strategy. Comfort Systems currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.PulteGroup, Inc. PHM reported better-than-expected second-quarter 2026 results, with adjusted earnings and total revenues topping the Zacks Consensus Estimate, but declining year over year. The quarterly results reflect reduced home-closing volumes, softer average selling prices (“ASP”) and margin compression.PulteGroup ended the quarter with a backlog of 10,966 homes, up 1.7% from the prior-year level. Backlog units increased in the Northeast, Florida, Midwest and Texas, while the Southeast and West reported declines. The value of homes in backlog slipped 0.6% to $6.80 billion. The divergence between higher units and lower value indicates that the average value of homes in backlog declined year over year, consistent with PHM’s broader pricing pressure.D.R. Horton, Inc. DHI reported third-quarter fiscal 2026 earnings of $3.20 per share, beating the Zacks Consensus Estimate of $2.99 by 7%. Revenues of $9.23 billion also surpassed the consensus mark of $9.19 billion by 0.5%. On a year-over-year basis, earnings declined 4.8%, while revenues increased marginally.DHI’s earnings and revenue beat was driven by higher home-closing volumes, resilient home sales margins, disciplined management of pricing and incentives, and contributions from the Rental, Forestar and Financial Services businesses. However, lower profitability, elevated incentives and cautious consumer demand continued to weigh on results. D.R. Horton now expects fiscal 2026 consolidated revenues of $32.5-$33 billion, down from $33.5-$34.5 billion expected earlier.Lennar Corporation LEN reported mixed second-quarter fiscal 2026 results, with adjusted earnings topping the Zacks Consensus Estimate while revenues missed the same. Year over year, both metrics declined, given ongoing softness in housing demand and a lower ASP for homes delivered.LEN’s Homebuilding revenues declined 2% year over year to $7.62 billion from $7.84 billion, with home deliveries increasing 2% to 20,519 homes from 20,131 homes a year ago. Backlog at quarter-end increased to 16,818 homes from 15,538 homes. For the third quarter of fiscal 2026, Lennar expects home deliveries in the range of 20,500-21,500 and new orders between 21,000 and 22,000 homes. Gross margin on home sales is expected to be approximately 16%. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Comfort Systems USA, Inc. (FIX) : Free Stock Analysis Report PulteGroup, Inc. (PHM) : Free Stock Analysis Report Lennar Corporation (LEN) : Free Stock Analysis Report D.R. Horton, Inc. (DHI) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research