🔹 EPS: $3.04 (Est. $3.29) 🔴
🔹 Revenue: $9.68B (Est. $9.42B) 🟢
🔹 Net Sales Orders: 20,078 homes; UP +5% YoY (Value $7.3B; UP +3% YoY)
FY26 Guidance
🔹 Revenue: $33.5B–$35.0B (Est. $34.85B) 🟡
🔹 Homes Closed: 86,000–88,000
🔹 Income Tax Rate: ~24.5%
🔹 Cash Flow from Ops: ≥ $3.0B
🔹 Share Repurchases: ~ $2.5B
🔹 Dividends: ~ $500M
Homebuilding
🔹 Revenue: $8.6B; DOWN -4% YoY
🔹 Homes Closed: 23,368; DOWN -1% YoY
🔹 Pre-tax Income: $1.0B; Pre-tax Margin: 11.7%
🔹 Cancellation Rate: 20% (vs. 21% prior year)
Non-Homebuilding
🔹 Rental: Rev $805.4M; Pre-tax $80.5M
🔹 Forestar (Lots): 4,891 sold; Rev $670.5M; Pre-tax $113.1M; Margin 16.9%
🔹 Financial Services: Rev $218.3M; Pre-tax $75.8M; Margin 34.7%
Other Metrics (FY25)
🔹 Q4 Pre-tax Profit: $1.2B; Pre-tax Margin: 12.4%
🔹 Net Income: $3.6B; EPS $11.57
🔹 Consolidated Revenue: $34.3B
🔹 Cash from Ops: $3.4B
🔹 Debt to Total Capital: 19.8%
🔹 Liquidity (YE): $6.6B
🔹 Book Value/Share: $82.15; UP +5% YoY
🔹 ROE: 14.6%; ROA: 10.0%
🔹 Share Repurchases: 30.7M shares for $4.3B (-9% OS); Remaining Authorization: $3.3B
🔹 Dividend: Raised 13% to $0.45/share (payable Nov 20, 2025)
CEO Commentary
🔸 “We completed our 24th consecutive year as America’s largest builder by volume and generated $4.7B of pre-tax income on $34.3B of revenue.”
🔸 “New home demand remains impacted by affordability and cautious sentiment; incentives will stay elevated in FY26, as needed.”