D.R. Horton Inc
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D.R. Horton Inc
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D.R. Horton Inc
D.R. Horton is one of the largest homebuilders in the United States. It buys land, develops communities, and builds single-family houses, townhomes, and other residential properties, then sells them to individual buyers. The company also offers related services such as mortgage financing and title insurance through its own subsidiaries, which helps simplify the homebuying process for customers. Its main customers are people buying a home for the first time, families moving up to a larger house, active adults, and some institutional buyers of homes. D.R. Horton makes money mainly by selling completed homes, and it earns additional income from home loans and closing services tied to those sales. This makes it more than just a builder: it is a housing company that controls much of the process from land acquisition to move-in. The company’s role in the industry is to turn raw land and planning work into ready-to-buy homes at scale. That gives it control over design, cost, and delivery, which matters in a market where buyers want a simple path to ownership. Because it serves a broad range of price points and uses its own financing and title businesses, D.R. Horton can capture more of the value from each home sale than a builder that only constructs houses.
D.R. Horton is one of the largest homebuilders in the United States. It buys land, develops communities, and builds single-family houses, townhomes, and other residential properties, then sells them to individual buyers. The company also offers related services such as mortgage financing and title insurance through its own subsidiaries, which helps simplify the homebuying process for customers.
Its main customers are people buying a home for the first time, families moving up to a larger house, active adults, and some institutional buyers of homes. D.R. Horton makes money mainly by selling completed homes, and it earns additional income from home loans and closing services tied to those sales. This makes it more than just a builder: it is a housing company that controls much of the process from land acquisition to move-in.
The company’s role in the industry is to turn raw land and planning work into ready-to-buy homes at scale. That gives it control over design, cost, and delivery, which matters in a market where buyers want a simple path to ownership. Because it serves a broad range of price points and uses its own financing and title businesses, D.R. Horton can capture more of the value from each home sale than a builder that only constructs houses.
Results: D.R. Horton posted third-quarter earnings of $3.20 per share on $9.2 billion of revenue, with pretax margin of 13.3% and home sales gross margin of 20.7%.
Demand: Orders were flat year over year, but management said sales softened later in the quarter and consumer confidence remains cautious.
Guidance: The company trimmed full-year delivery expectations and now expects fourth-quarter starts to come in below third-quarter levels.
Margins: Gross margin came in above the top of guidance thanks to lower stick-and-brick costs and slightly lower incentives, but incentives are still expected to stay elevated.
Cost Outlook: Management expects lot costs to keep rising at about the same pace in Q4, while some construction cost savings may continue near term.
Capital Returns: D.R. Horton returned cash through $616 million of buybacks and a $0.45 dividend, and still targets about $2.5 billion of repurchases and about $500 million of dividends for the year.
Management
David V. Auld is a prominent figure in the homebuilding industry, serving as the President and Chief Executive Officer of D.R. Horton, Inc., one of the largest home construction companies in the United States. He joined D.R. Horton in 1988 and has held various leadership positions within the company, contributing significantly to its growth and success. Auld began his career with D.R. Horton as a Division President and later became the Region President overseeing the homebuilding operations in Florida, North and South Carolina, Georgia, and Alabama. His strong leadership skills and deep understanding of the market dynamics helped him rise through the ranks. In 2014, he was appointed CEO, succeeding the company's founder, Donald R. Horton. Under Auld's leadership, D.R. Horton has continued to thrive, maintaining its position as one of the top homebuilders in the country. The company has expanded its market reach and enhanced its product offerings, focusing on delivering quality homes and exceptional value to its customers. David Auld's extensive experience in the homebuilding industry, strategic vision, and dedication to operational excellence have played a crucial role in the sustained growth and profitability of D.R. Horton.
Auld began his career with D.R. Horton as a Division President and later became the Region President overseeing the homebuilding operations in Florida, North and South Carolina, Georgia, and Alabama. His strong leadership skills and deep understanding of the market dynamics helped him rise through the ranks. In 2014, he was appointed CEO, succeeding the company's founder, Donald R. Horton.
Under Auld's leadership, D.R. Horton has continued to thrive, maintaining its position as one of the top homebuilders in the country. The company has expanded its market reach and enhanced its product offerings, focusing on delivering quality homes and exceptional value to its customers.
David Auld's extensive experience in the homebuilding industry, strategic vision, and dedication to operational excellence have played a crucial role in the sustained growth and profitability of D.R. Horton.
Paul J. Romanowski serves as the Executive Vice President and Co-Chief Operating Officer of D.R. Horton, Inc., which is a leading home construction company in the United States. Mr. Romanowski has a notable career within the homebuilding industry and has been an integral part of D.R. Horton's leadership team. His work involves overseeing the company's operations and contributing to its strategic growth and development. With a focus on operational efficiency and innovation in home building, he plays a vital role in maintaining D.R. Horton's reputation for high-quality construction and customer satisfaction. His leadership and management skills have been key in driving the company's success and in navigating the competitive real estate market.
His work involves overseeing the company's operations and contributing to its strategic growth and development. With a focus on operational efficiency and innovation in home building, he plays a vital role in maintaining D.R. Horton's reputation for high-quality construction and customer satisfaction. His leadership and management skills have been key in driving the company's success and in navigating the competitive real estate market.
Bill W. Wheat serves as the Executive Vice President and Chief Financial Officer of D.R. Horton, Inc., one of the largest homebuilding companies in the United States. He joined the company in 2003 and has held various financial management roles, showcasing his expertise in corporate finance. As CFO, Wheat is responsible for overseeing the company's financial operations, including accounting, treasury, financial planning, and investor relations. Under his leadership, Wheat has been instrumental in managing D.R. Horton's financial strategy, helping to navigate the company through different market conditions and contributing to its growth and positioning in the industry. Before joining D.R. Horton, he gained valuable experience in public accounting, which laid a strong foundation for his successful career in finance and business management.
Michael J. Murray is the Executive Vice President and Chief Operating Officer of D.R. Horton, Inc., one of the largest homebuilding companies in the United States. In his role, he is responsible for overseeing the company's daily operations and ensuring seamless integration of various business processes to drive growth and operational efficiency. Murray has extensive experience in the real estate and construction industries, which contributes to his expertise in managing large-scale operations effectively. He has played a pivotal role in expanding D.R. Horton's market presence and enhancing its operational strategies, leveraging his insights into market trends and consumer demands. Throughout his career, Murray has demonstrated a strong commitment to innovation and excellence, aligning with the company's goals to deliver high-quality homes while maintaining cost-efficiency. His leadership has been instrumental in navigating the complexities of the housing market, focusing on operational enhancements and strategic developments to sustain the company's competitive edge.
He has played a pivotal role in expanding D.R. Horton's market presence and enhancing its operational strategies, leveraging his insights into market trends and consumer demands. Throughout his career, Murray has demonstrated a strong commitment to innovation and excellence, aligning with the company's goals to deliver high-quality homes while maintaining cost-efficiency.
His leadership has been instrumental in navigating the complexities of the housing market, focusing on operational enhancements and strategic developments to sustain the company's competitive edge.
As of the latest available information, Aron M. Odom serves as Division President for D.R. Horton, Inc., which is one of the largest homebuilding companies in the United States. In this role, Mr. Odom is responsible for overseeing the division's operations, including sales, marketing, and construction management, as well as ensuring the division meets its goals for profitability and growth. Throughout his career at D.R. Horton, Mr. Odom has likely been involved in various aspects of homebuilding management, showcasing leadership in developing strategic plans and fostering relationships within the industry. His work contributes significantly to D.R. Horton's mission of building affordable, quality homes for families across the nation. Details regarding his previous experiences, early education, and career path leading to his current position are not widely publicized. However, as a Division President, his role is integral to maintaining the company's reputation and efficiency in the market.
Throughout his career at D.R. Horton, Mr. Odom has likely been involved in various aspects of homebuilding management, showcasing leadership in developing strategic plans and fostering relationships within the industry. His work contributes significantly to D.R. Horton's mission of building affordable, quality homes for families across the nation.
Details regarding his previous experiences, early education, and career path leading to his current position are not widely publicized. However, as a Division President, his role is integral to maintaining the company's reputation and efficiency in the market.
Thomas B. Montano serves as an executive at D.R. Horton, Inc., a prominent home construction company in the United States. With a wealth of experience in the homebuilding industry, Mr. Montano contributes his extensive knowledge and expertise to support the company’s strategic goals and operations. His leadership skills and commitment to excellence help drive the company’s success in delivering high-quality homes to customers. Specific details about his role and responsibilities at D.R. Horton, Inc. may vary, but he is generally recognized for his contributions to the company's growth and performance in the highly competitive real estate market.
Matt Farris is an executive associated with D.R. Horton, Inc., a prominent home construction company in the United States. He serves as the Chief Operating Officer (COO) of the company. In his role, Farris is responsible for overseeing daily operations and implementing strategic initiatives to ensure the efficient functioning of the company's diverse operations. He plays a vital part in managing the company's growth and market strategies while maintaining its reputation for quality and customer satisfaction. His leadership and expertise in the construction industry contribute significantly to the success and expansion of D.R. Horton, Inc.
Tom Hill is the Executive Vice President and Chief Operating Officer of D.R. Horton, Inc., a position he has held since October 2014. Before this role, he served as Region President overseeing the Company’s South and West Regions starting in 2010, and prior to that was the Division President of the Company’s Phoenix division. Hill joined D.R. Horton in 1993 as the Division President for the company’s Tucson division. With a career at D.R. Horton spanning over two decades, Tom Hill has played a vital role in overseeing operational strategies and contributing to the growth and success of the company.