D R Horton Inc Stock Price, News & Analysis

D.R. Horton (NYSE:DHI), America's Builder, has scheduled its fiscal 2025 third quarter earnings release for July 22, 2025, before market opening. The company will host a conference call at 8:30 a.m. ET on the same day. Investors can join via phone using dial-in number 888-506-0062 with access code 586904, or through a webcast on the company's investor website.

A replay will be available after 12:30 p.m. ET at 877-481-4010 using passcode 52578, accessible through July 29, 2025. The webcast replay will remain available on the company's website until November 15, 2025.

D.R. Horton, America's Builder, has announced the pricing of $500 million senior notes offering with a 4.850% interest rate, maturing on October 15, 2030. The notes will pay interest semi-annually, with the offering expected to close on May 5, 2025.

Key details:

• Interest rate: 4.850% per year
• Maturity date: October 15, 2030
• Expected closing: May 5, 2025
• Use of proceeds: General corporate purposes

The offering is being managed by several major financial institutions, including Mizuho Securities USA, U.S. Bancorp Investments, Wells Fargo Securities, BofA Securities, J.P. Morgan Securities, and others. The company has filed a registration statement with the SEC, and interested investors can access documents through the SEC website or by contacting the joint book-running managers.

Forestar Group (NYSE: FOR) reported its fiscal 2025 second quarter results with mixed performance. Net income decreased 30% to $31.6 million ($0.62 per diluted share) compared to $45.0 million ($0.89 per diluted share) in Q2 2024. Despite the decline in profits, consolidated revenues increased 5% to $351.0 million, with residential lots sold up 4% to 3,411 lots.

The company strengthened its financial position by issuing $500 million of 6.50% senior unsecured notes due 2033 and completing a tender offer to purchase $329.4 million of existing 3.85% notes due 2026. Forestar maintained a strong lot position of 105,900 lots (68,400 owned and 37,500 controlled) with $2.3 billion in future contracted revenue.

Due to home affordability constraints and declining consumer confidence, Forestar revised its fiscal 2025 guidance downward to 15,000-15,500 lot deliveries and revenue of $1.5-1.55 billion, compared to previous guidance of 16,000-16,500 lots and $1.6-1.65 billion revenue.

D.R. Horton (NYSE:DHI) reported fiscal 2025 second quarter results with net income of $810.4 million, or $2.58 per diluted share, marking a 27% decrease from $3.52 in the same quarter of fiscal 2024. Consolidated revenues declined 15% to $7.7 billion, with home sales revenues of $7.2 billion on 19,276 homes closed.

The company reported net sales orders of 22,437 homes valued at $8.4 billion, with a cancellation rate of 16%. The company's sales order backlog decreased 21% to 14,164 homes valued at $5.5 billion. During the quarter, DHI repurchased 9.7 million shares for $1.3 billion and paid dividends of $125.5 million.

The company maintains strong liquidity of $5.8 billion, including $2.5 billion in cash. A new $5.0 billion share repurchase authorization was announced, and the company declared a quarterly dividend of $0.40 per share.

Forestar Group (NYSE: FOR) announced the completion of its cash tender offer for its 3.850% Senior Notes due 2026. The tender offer, which expired on March 11, 2025, resulted in tenders of $329,434,000 in aggregate principal amount, representing 82.36% of outstanding Notes. An additional $667,000 remains subject to guaranteed delivery procedures expiring March 13, 2025.

Holders of validly tendered Notes will receive a purchase price of $999.46 per $1,000 principal amount, plus accrued and unpaid interest, with settlement expected on March 14, 2025. The tender offer is contingent on completing a contemporaneous debt financing, with proceeds intended to fund the Note purchases.

Forestar Group (NYSE: FOR) has announced the pricing terms for its cash tender offer to purchase all outstanding 3.850% Senior Notes due 2026. The Purchase Price will be determined based on a fixed spread plus the yield of a U.S. Treasury Reference Security, with settlement expected on March 14, 2025.

The tender offer expires at 5:00 p.m., New York City time, on March 11, 2025. Holders who tender their notes will receive the Purchase Price plus accrued and unpaid interest. The offer is contingent upon completing a contemporaneous debt financing, with proceeds intended to fund the note purchases.

The company has retained J.P. Morgan Securities, Mizuho Securities USA, TD Securities, and Wells Fargo Securities as Dealer Managers for the tender offer. After completion, Forestar may purchase additional notes through various means, though future purchases will depend on market conditions.

Forestar Group (NYSE: FOR) has announced the pricing of $500 million in senior unsecured notes due 2033, with a 6.500% interest rate payable semi-annually. The Notes will be offered through private placement to qualified institutional buyers under Rule 144A and non-U.S. persons under Regulation S of the Securities Act.

The offering is expected to close on March 14, 2025. The company plans to use the proceeds to fund a tender offer for its existing $400 million 3.850% Senior Notes due 2026 and for general corporate purposes, including repaying outstanding credit facility borrowings.

Forestar Group (NYSE: FOR) has announced a cash tender offer to purchase any and all of its outstanding 3.850% Senior Notes due 2026. The Purchase Price will be determined based on a fixed spread plus the U.S. Treasury Reference Security yield, with settlement expected on March 14, 2025.

The tender offer expires at 5:00 p.m., New York City time, on March 11, 2025. Holders who tender their notes will receive the Purchase Price plus accrued and unpaid interest. The offer is contingent upon completing a contemporaneous debt financing, with proceeds intended to fund the note purchases.

The Purchase Price calculation assumes Notes redemption on May 15, 2025, at 100.000% of principal amount. J.P. Morgan Securities, Mizuho Securities USA, TD Securities, and Wells Fargo Securities are serving as Dealer Managers for the tender offer.