霍顿房屋 2026年季度报告

FORM 10-Q (Mark One) ☒QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Indicate by check mark whether the registrant (1)has filed all reports required to be filed by Section13 or 15(d) of the Securities Exchange Act of 1934during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2)has been subject to such filing Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 ofRegulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).YesNo Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or anemerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company” and “emerging growthcompany” in Rule 12b-2 of the Exchange Act. If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any newor revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐No As of January15, 2026, there were 289,703,395 shares of the registrant’s common stock, par value $.01 per share, outstanding. PART I. FINANCIAL INFORMATIONITEM 1. Financial Statements (unaudited)Consolidated Balance Sheets at December 31, 2025 and September 30, 2025Consolidated Statements of Operations for the three months ended December 31, 2025 and 2024Consolidated Statements of Total Equity for the three months ended December 31, 2025 and 2024 NOTE A – BASIS OF PRESENTATION The accompanying unaudited, consolidated financial statements include the accounts of D.R. Horton, Inc. and all of its wholly owned,majority-owned and controlled subsidiaries, which are collectively referred to as the Company, unless the context otherwise requires.Noncontrolling interests represent the proportionate equity interests in consolidated entities that are not 100% owned by the Company. As ofDecember31, 2025, the Company owned a 62% controlling interest in Forestar Group Inc. (Forestar) and therefore is required to The financial statements have been prepared in accordance with U.S. Generally Accepted Accounting Principles (GAAP) for interimfinancial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. In the opinion of management, thesefinancial statements reflect all adjustments considered necessary to fairly state the results for the interim periods shown, including normalrecurring accruals and other items. These financial statements, including the consolidated balance sheet as of September30, 2025, which Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions. Theseestimates and assumptions affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date Seasonality Historically, the homebuilding industry has experienced seasonal fluctuations; therefore, the operating results for the three monthsended December31, 2025 are not necessarily indicative of the results that may be expected for the fiscal year ending September30, 2026 or Business Acquisition In October 2025, the Company acquired the homebuilding operations of SK Builders for approximately $80 million in cash. SKBuilders operates in and around Greenville, South Carolina. The assets acquired included approximately 160 homes in inventory, 260 lotsand a sales order backlog of 110 homes. Through the acquisition, the Company also obtained control of approximately 1,320 additional lots Recent Accounting Pronouncements In December 2023, the Financial Accounting Standards Board (FASB) issued ASU 2023-09, “Income Taxes - Improvements toIncome Tax Disclosures,” which requires disclosure of disaggregated income taxes paid, prescribes standard categories for the componentsof the effective tax rate reconciliation and modifies other income tax related disclosures. The standard became effective for the Company’s In November 2024, the FASB issued ASU 2024-03, “Income Statement - Reporting Comprehensive Income - Expense DisaggregationDisclosures,” which requires disclosure of certain costs and expenses on an interim and annual basis in the notes to the financial statements.The standard is effective for the Company’s annual periods beginning in fiscal 2028 and interim periods beginning in the first quarter of D.R. HORTON, INC. AND SUBSIDIARIESNOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Unaudited) – (Continued) NOTE B – SEGMENT INFORMATION The Company is a national homebuilder that is primarily engaged in the acquisition and development of land and the construction andsale of residential h