D.R. Horton Publishes Q4 FY2026 Earnings Call Transcript
- D.R. Horton’s October 29, 2026, fourth-quarter earnings call featured CEO Paul Romanowski, Bill Wheat, Mike Murray and Jessica Hansen.
- Fiscal 2027 guidance calls for revenue of $30 billion-$32 billion, with home closings of 79,000-84,000.
- First-quarter home sales gross margin is projected at 18%-18.5%, below the fourth quarter’s 19.5%.
- Romanowski expects mortgage rates to remain elevated; management anticipates continued high incentives as affordability constraints pressure demand.
- Fourth-quarter net sales orders fell 7% to 18,619 homes; the cancellation rate rose to 23% from 20% a year earlier.
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