DHI 8-K Current Reports
HORTON D R INC /DE/ - 335 current reports
HORTON D R INC /DE/ 8-K Report, Corporate Update (Sep 15, 2026)
D.R. Horton, Inc. (DHI) announced a significant expansion of its share repurchase program through an 8-K filing on September 15, 2026. The Board of Directors has authorized an additional $5.0 billion for the repurchase of the company's common stock, with no set expiration date. This substantial authorization signals management's confidence in the company's financial health and its commitment to returning capital to shareholders. This new authorization, coupled with the remaining $53 million under the previous program, provides DHI with significant flexibility to execute buybacks. The company also revised its fiscal 2026 repurchase expectations, now anticipating at least $3.25 billion in total repurchases for the year. Investors should view this as a positive signal, indicating strong free cash flow generation and a strategic focus on enhancing shareholder value by reducing the number of outstanding shares.
HORTON D R INC /DE/ 8-K Report, Financial Results (Jul 21, 2026)
D.R. Horton, Inc. (DHI) has filed an 8-K report on July 21, 2026, announcing its financial results for the third quarter ended June 30, 2026. The report primarily incorporates a press release detailing these results and the declaration of a quarterly dividend. Investors should refer to the attached Exhibit 99.1 for comprehensive details on the company's performance during the quarter. This filing provides timely updates on the company's operational and financial standing, including its profitability and shareholder distribution strategy. The key takeaway for investors is the announcement of D.R. Horton's third-quarter performance metrics and the continued commitment to returning capital to shareholders through a regular dividend. While the 8-K itself does not contain granular financial data, it directs stakeholders to the accompanying press release for detailed figures such as revenue, earnings per share, and other key performance indicators. Investors interested in the homebuilding sector and DHI's specific market position will find this report essential for understanding the company's recent trajectory and future outlook.
HORTON D R INC /DE/ 8-K Report, Material Agreement (May 12, 2026)
D.R. Horton, Inc. (DHI) announced a significant amendment to its Master Repurchase Agreement through its wholly-owned subsidiary, DHI Mortgage Company, Ltd. The Fifth Amendment to the Fourth Amended and Restated Master Repurchase Agreement, effective May 6, 2026, substantially enhances the financial flexibility and liquidity available to DHI Mortgage. Key changes include a substantial increase in the financing capacity and an extension of the maturity date, providing a more robust and longer-term funding structure.
HORTON D R INC /DE/ 8-K Report, Financial Results (Apr 21, 2026)
D.R. Horton, Inc. (DHI) announced its second quarter results for the period ending March 31, 2026, via a press release filed on April 21, 2026. While the filing itself is brief, it directs investors to an attached press release (Exhibit 99.1) for detailed financial performance and operational updates. This filing serves as a notification that the company's quarterly earnings information is now publicly available, and investors should refer to the referenced press release for specific figures and commentary on the company's financial condition and operational results during the second quarter.
HORTON D R INC /DE/ 8-K Report, Material Agreement (Mar 31, 2026)
D.R. Horton, Inc. (DHI) announced significant updates to its credit facilities through two separate amendments, Amendment No. 13 to its D.R. Horton Credit Agreement and Amendment No. 2 to its DRH Rental, Inc. Credit Agreement, both effective March 27, 2026. These amendments, entered into with Mizuho Bank, Ltd. as Administrative Agent and various lenders, aim to enhance the company's financial flexibility and extend its borrowing capacity. The modifications are crucial for DHI's ongoing operational needs and strategic growth initiatives in the dynamic housing market. Key adjustments include a substantial increase in the Aggregate Revolving Credit Commitment to $3.295 billion and the Aggregate Credit Facility Limit to $4.0 billion for D.R. Horton. Additionally, the company has extended the maturity dates for its revolving credit commitments across multiple tranches, with some extending as far as March 2031. DRH Rental, Inc., a wholly-owned subsidiary, also saw its senior unsecured revolving credit facility extended to March 27, 2030, with adjustments to fees and interest rate margins. These changes signal a proactive approach by DHI to secure and optimize its financing arrangements.
HORTON D R INC /DE/ 8-K Report, Financial Results (Jan 20, 2026)
D.R. Horton, Inc. (DHI) has filed an 8-K report on January 20, 2026, to announce its first-quarter financial results for the period ending December 31, 2025. The report incorporates by reference a press release detailing these results and also announces the declaration of a quarterly dividend. Investors should refer to the press release (Exhibit 99.1) for specific financial performance metrics and dividend details. While the 8-K itself does not contain the detailed financial figures, it serves as the official notification of the release of this information. The attached press release is the primary source for understanding DHI's operational and financial condition as of the end of the first fiscal quarter of 2026. Investors are advised to review Exhibit 99.1 for comprehensive insights into revenue, earnings, and any forward-looking statements made by the company.
HORTON D R INC /DE/ 8-K Report, Shareholder Vote Results (Jan 16, 2026)
D.R. Horton, Inc. (DHI) has filed an 8-K report detailing the outcomes of its Annual Meeting of Stockholders held on January 15, 2026. The meeting covered three key proposals: the election of eight director nominees, an advisory vote on executive compensation, and the ratification of Ernst & Young LLP as the independent registered public accounting firm for fiscal year 2026. All proposals received overwhelming support from stockholders. The eight director nominees were elected by substantial margins, indicating strong confidence in the current board leadership. Similarly, the executive compensation plan was approved by an advisory vote, and the appointment of Ernst & Young LLP as the company's auditor for the upcoming fiscal year was overwhelmingly ratified. These results suggest a stable governance environment and continued shareholder alignment with management and audit oversight.
HORTON D R INC /DE/ 8-K Report, Financial Results (Oct 28, 2025)
D.R. Horton, Inc. (DHI) has filed an 8-K report on October 28, 2025, to announce its financial results for the fourth quarter and full fiscal year ended September 30, 2025. The report primarily incorporates by reference a press release detailing these results, which also includes information on the declaration of its quarterly dividend. Investors should refer to the attached press release (Exhibit 99.1) for comprehensive details on the company's performance and financial condition during the period. While the 8-K itself is brief and references an external document, the key takeaway for investors is the timing of this financial update. The press release will contain critical metrics such as revenue, net income, earnings per share, and housing inventory levels, as well as any forward-looking guidance provided by the company. The declaration of the quarterly dividend also signals the company's confidence in its ongoing financial health and commitment to returning capital to shareholders.
HORTON D R INC /DE/ 8-K Report, Financial Results (Jul 22, 2025)
D.R. Horton, Inc. (DHI) has filed an 8-K report on July 22, 2025, to announce its financial and operational results for the third quarter ended June 30, 2025. The primary focus of this filing is the accompanying press release, which details the company's performance and also announces the declaration of its quarterly dividend. Investors should refer to the press release for specific financial metrics and forward-looking statements, as this 8-K primarily serves to incorporate that information by reference. The company's disclosure of its third-quarter results is a critical event for investors, providing insights into the housing market conditions, DHI's sales trends, and profitability. The declaration of a quarterly dividend suggests continued confidence in the company's financial health and its commitment to returning capital to shareholders. Further details on the financial performance, including revenue, net income, and earnings per share, as well as the dividend amount, are expected to be found within the referenced press release (Exhibit 99.1).
HORTON D R INC /DE/ 8-K Report, Material Agreement (May 9, 2025)
D.R. Horton, Inc. (DHI) announced through its wholly-owned subsidiary, DHI Mortgage Company, Ltd., the execution of the Fourth Amendment to its Master Repurchase Agreement (the "Amended Repurchase Facility") with U.S. Bank National Association as Administrative Agent and other Buyers. This amendment, effective May 8, 2025, primarily extends the facility's term and adjusts its commitment structure, ensuring continued financing and liquidity for DHI Mortgage's operations. The facility allows DHI Mortgage to transfer eligible loans to buyers in exchange for funds, supporting its purchase transactions. The Amended Repurchase Facility has a maximum aggregate commitment of $1.4 billion, with an accordion feature allowing it to increase up to $2.0 billion under certain conditions, such as obtaining additional commitments from existing or new buyers. Notably, amounts outstanding under this facility are not guaranteed by the parent company, D.R. Horton, Inc., or its other subsidiaries involved in homebuilding, rental, or Forestar operations. The extended term runs until May 6, 2026, or earlier termination events, providing a stable financing runway for the subsidiary.
HORTON D R INC /DE/ 8-K Report, Corporate Update (May 5, 2025)
D.R. Horton, Inc. (DHI) announced the successful completion of a public offering of $500 million in 4.850% Senior Notes due 2030. This offering, registered under a Form S-3, signifies the company's strategic move to raise capital, likely for ongoing operations, construction projects, or potential acquisitions. The notes are backed by a group of DHI's subsidiaries acting as Guarantors, enhancing their creditworthiness. This issuance, which closed on May 5, 2025, was facilitated through an underwriting agreement with prominent financial institutions, including Mizuho Securities USA LLC, U.S. Bancorp Investments, Inc., and Wells Fargo Securities, LLC. The notes will be governed by an indenture, further detailing the terms and conditions of this debt financing. Investors should note the fixed interest rate of 4.850% and the maturity date of 2030, which provides a long-term perspective on the company's debt structure.
HORTON D R INC /DE/ 8-K Report, Material Agreement (May 5, 2025)
D.R. Horton, Inc. (DHI) announced the successful completion of a public offering of $500 million in 4.850% Senior Notes due 2030. The company secured net proceeds of approximately $496.7 million from this issuance, which will be governed by a Senior Debt Securities Indenture. These notes are general unsecured obligations of the company and are guaranteed by most of its homebuilding subsidiaries, ranking equally with existing and future unsecured debt that is not subordinated. The issuance provides DHI with additional capital, potentially to support its ongoing operations and strategic initiatives within the homebuilding sector. Investors should note the coupon rate of 4.850% and the maturity date of October 15, 2030. The company retains the option to redeem the notes, with specific redemption prices detailed based on the timing relative to September 15, 2030. Additionally, a change of control event coupled with a ratings downgrade could trigger a mandatory purchase offer from the company at 101% of the principal amount.
HORTON D R INC /DE/ 8-K Report, Financial Results (Apr 17, 2025)
D.R. Horton, Inc. (DHI) has filed an 8-K report on April 17, 2025, to announce its financial results for the second quarter ended March 31, 2025, and to declare its quarterly dividend. The core of this filing is the attached press release (Exhibit 99.1), which provides detailed operational and financial condition information for the quarter. Investors should refer to this press release for specific metrics and forward-looking statements as it contains the primary disclosure of the company's performance and strategic updates. While the 8-K itself is brief, it serves as a notification and incorporation mechanism for the press release. The declaration of a quarterly dividend suggests continued confidence in the company's financial stability and commitment to shareholder returns. Investors are encouraged to review the full press release for comprehensive details on revenue, profitability, backlog, and any guidance provided by management.
HORTON D R INC /DE/ 8-K Report, Corporate Update (Feb 26, 2025)
D.R. Horton, Inc. (DHI) announced on February 26, 2025, the closing of its underwritten public offering of $700 million aggregate principal amount of 5.500% Senior Notes due 2035. This offering, registered under a Form S-3 filing, was facilitated through an underwriting agreement with Mizuho Securities USA LLC, J.P. Morgan Securities LLC, and TD Securities (USA) LLC. The issuance of these notes, which mature in 2035, is structured under an indenture with Truist Bank as the trustee, as supplemented by a Seventh Supplemental Indenture. This debt issuance provides DHI with additional capital, the proceeds of which are likely intended for general corporate purposes, including potentially funding its homebuilding operations, land acquisition, or other strategic initiatives. Investors in the senior notes are purchasing a debt instrument with a stated coupon rate of 5.500%, offering a fixed income stream over the next decade. The closing of this offering on February 26, 2025, subject to customary conditions, signifies the completion of this significant financing event.
HORTON D R INC /DE/ 8-K Report, Material Agreement (Feb 26, 2025)
D.R. Horton, Inc. (DHI) has announced the completion of a public offering for $700 million in aggregate principal amount of 5.500% Senior Notes due 2035. The offering yielded net proceeds of $695.2 million after underwriting discounts. These notes are governed by the Senior Debt Securities Indenture, as supplemented by the Seventh Supplemental Indenture. The interest rate of 5.500% per annum will be paid semi-annually, with a maturity date of October 15, 2035. The issuance of these notes provides DHI with significant liquidity and extends its debt maturity profile. The notes are guaranteed by substantially all of the company's current homebuilding subsidiaries, providing an additional layer of security. Investors should note the optional redemption features and the change of control provisions, which offer certain protections. The notes are unsecured and rank pari passu with existing and future unsecured indebtedness.
HORTON D R INC /DE/ 8-K Report, Financial Results (Jan 21, 2025)
D.R. Horton, Inc. (DHI) has filed an 8-K report on January 21, 2025, to announce its financial results for the first quarter ended December 31, 2024. The company also declared its quarterly dividend. The full details of these results are available in the press release attached as Exhibit 99.1 to this filing. Investors should review the press release for specific financial performance metrics, including revenue, earnings per share, and any forward-looking guidance provided by the company. The declaration of a quarterly dividend suggests continued confidence in the company's financial health and its commitment to returning value to shareholders.
HORTON D R INC /DE/ 8-K Report, Shareholder Vote Results (Jan 17, 2025)
D.R. Horton, Inc. (DHI) filed an 8-K on January 17, 2025, reporting the results of its Annual Meeting of Stockholders held on January 16, 2025. The meeting addressed three key proposals: the election of directors, an advisory vote on executive compensation, and the ratification of the company's independent registered public accounting firm. All three proposals received overwhelming support from stockholders, indicating strong shareholder confidence in the company's leadership and governance.
HORTON D R INC /DE/ 8-K Report, Material Agreement (Dec 23, 2024)
D.R. Horton, Inc. (DHI) has filed an 8-K detailing significant amendments to its existing Credit Agreement, specifically Amendment No. 12. This amendment, effective December 18, 2024, involves key adjustments to its revolving credit facility. The most impactful changes for investors include the extension of the Series A Revolving Credit Facility Termination Date to December 18, 2029, and an increase in the Aggregate Revolving Credit Commitment to $2.23 billion. These modifications demonstrate the company's proactive approach to managing its financial resources and ensuring continued access to liquidity. The extended maturity date provides greater financial flexibility and stability for D.R. Horton's operations and strategic initiatives over the next five years. The increased credit commitment suggests confidence from lenders in the company's financial health and its ability to manage a larger debt facility.
HORTON D R INC /DE/ 8-K Report, Material Agreement (Nov 1, 2024)
D.R. Horton, Inc. (DHI) announced an amendment to its Stockholder's Agreement with Forestar Group Inc. (Forestar) on October 28, 2024. The primary change involves an increase in the approval thresholds for investment decisions and capital expenditures made by Forestar. Specifically, the threshold requiring Forestar's Investment Committee to have sole responsibility for investment decisions involving capital expenditures of $20 million or less has been raised to $45 million. Similarly, the threshold requiring D.R. Horton's prior written consent for Forestar to acquire businesses, operations, or make significant investments exceeding $20 million has also been increased to $45 million. These new thresholds are subject to annual adjustments based on the S&P CoreLogic Case-Shiller U.S. National Home Price Index. If the index shows a negative change, the threshold will remain the same. It's important to note that these changes are contingent upon Forestar's stockholders approving an amendment to Forestar's Certificate of Incorporation (Charter Amendment) at their 2025 Annual Meeting. Until such approval, the existing Charter provisions will remain in effect. D.R. Horton currently owns approximately 62% of Forestar's outstanding common stock.
HORTON D R INC /DE/ 8-K Report, Financial Results (Oct 29, 2024)
D.R. Horton, Inc. (DHI) filed an 8-K on October 29, 2024, to announce its fourth quarter and full fiscal year 2024 results for the period ended September 30, 2024. The report primarily incorporates a press release detailing these financial outcomes and also announces the company's quarterly dividend declaration. Investors should review the attached press release (Exhibit 99.1) for specific financial performance metrics, earnings per share, revenue figures, and any forward-looking guidance or commentary provided by management regarding the company's operational and financial condition. This filing serves as a key update for stakeholders on the company's recent performance and capital return strategy. While the 8-K itself is brief, it directs investors to the substantive financial details within the included press release. This press release is expected to contain the core financial results, including commentary on sales, closings, backlog, and profitability for the fourth quarter and the full fiscal year. The declaration of a quarterly dividend also signals management's confidence and commitment to returning capital to shareholders. Investors should pay close attention to year-over-year comparisons and any management outlook for the upcoming fiscal year.
HORTON D R INC /DE/ 8-K Report, Material Agreement (Sep 3, 2024)
D.R. Horton, Inc. (DHI) announced via an 8-K filing that its wholly-owned subsidiary, DHI Mortgage Company, Ltd., has entered into the Third Amendment to its Master Repurchase Agreement. This amendment, effective August 29, 2024, primarily extends the term of the existing repurchase facility through May 9, 2025, or an earlier termination date as stipulated by the agreement. This facility is crucial for DHI Mortgage, providing essential financing and liquidity by enabling purchase transactions where DHI Mortgage transfers eligible loans to buyers in exchange for funds.
HORTON D R INC /DE/ 8-K Report, Executive Changes (Aug 28, 2024)
D.R. Horton, Inc. (DHI) announced significant changes to its Board of Directors and an update to its bylaws via an 8-K filing on August 28, 2024. The company appointed three new independent directors: Barbara R. Smith, M. Chad Crow, and Elaine D. Crowley. These appointments expand the Board to ten directors, with eight now being independent, enhancing the Board's governance structure and oversight capabilities. The new directors bring extensive experience from leadership roles in public companies within the construction products, building materials, and retail sectors, and have been assigned to key committees, including Nominating and Governance, Compensation, and Audit. In addition to the board changes, D.R. Horton has updated its bylaws, effective August 23, 2024. These amendments aim to align the bylaws more closely with Delaware General Corporation Law, clarify procedural requirements for stockholder-submitted nominations and business proposals, and refine the advance notice provisions. Notably, the changes address the Board's role in assessing the validity of stockholder notices, disclosure requirements for proposing stockholders and nominees, and introduce a specific requirement for the color of proxy cards used by those soliciting proxies. These bylaw updates are designed to improve corporate governance and streamline the shareholder engagement process.
HORTON D R INC /DE/ 8-K Report, Material Agreement (Aug 14, 2024)
D.R. Horton, Inc. (DHI) has announced the completion of a significant public offering of $700 million in aggregate principal amount of 5.000% Senior Notes due 2034. The company received net proceeds of approximately $688.5 million from this issuance, after accounting for underwriting discounts. These new notes are governed by a Senior Debt Securities Indenture, as supplemented by the Sixth Supplemental Indenture, and will mature on October 15, 2034. These senior notes bear a coupon of 5.000% and interest will be paid semi-annually starting April 15, 2025. Importantly, the notes are guaranteed by substantially all of DHI's current homebuilding subsidiaries, providing an additional layer of security for noteholders. The offering and the notes have been approved for listing on the New York Stock Exchange. The terms allow for optional redemption by the company and include provisions for a change of control event that also involves a ratings downgrade, requiring DHI to make a repurchase offer at 101% of the principal amount.
HORTON D R INC /DE/ 8-K Report, Corporate Update (Aug 14, 2024)
D.R. Horton, Inc. (DHI) announced on August 14, 2024, the successful offering and sale of $700 million in aggregate principal amount of 5.000% Senior Notes due 2034. This offering was registered under a Form S-3 registration statement and is expected to close on the same day, subject to customary closing conditions. The issuance of these notes, governed by an Indenture and a Sixth Supplemental Indenture with Truist Bank as trustee, represents a significant financing activity for the company. Investors should note the specific interest rate and maturity date of these notes as they are part of DHI's long-term debt structure.
HORTON D R INC /DE/ 8-K Report, Financial Results (Jul 18, 2024)
D.R. Horton, Inc. (DHI) has filed an 8-K reporting its third quarter 2024 results, as of June 30, 2024. The company announced its financial performance for the quarter and declared its regular quarterly dividend. While the 8-K itself doesn't provide the specific financial figures, it directs investors to a press release (Exhibit 99.1) which contains the detailed earnings information and dividend declaration. Investors should refer to the attached press release for a comprehensive understanding of DHI's performance, including key metrics such as revenue, net income, earnings per share, and any guidance provided for future periods. The declaration of a quarterly dividend signals continued confidence in the company's financial health and its commitment to returning value to shareholders.
HORTON D R INC /DE/ 8-K Report, Corporate Update (May 17, 2024)
D.R. Horton, Inc. (DHI) announced on May 17, 2024, the passing of its Founder and Chairman of the Board, Donald R. Horton, which occurred on May 16, 2024. This is a significant event for the company, given Mr. Horton's foundational role and leadership. The company also reported that the Board of Directors has appointed David V. Auld, previously Executive Vice Chairman, as the new Executive Chairman, effective immediately. This leadership transition is a key focus for investors following this news. The filing is an 8-K report, specifically addressing other events and exhibits. While it announces a pivotal leadership change due to a deeply unfortunate event, it does not disclose any new financial results or other material business updates beyond the executive appointment. Investors should monitor future communications for any strategic implications arising from this transition.
HORTON D R INC /DE/ 8-K Report, Financial Results (Apr 18, 2024)
D.R. Horton, Inc. (DHI) has filed an 8-K report on April 18, 2024, announcing its financial results for the second quarter ended March 31, 2024. The company also declared its quarterly dividend, indicating continued commitment to returning capital to shareholders. The press release, furnished as an exhibit, contains the specific financial details and operational highlights for the quarter. Investors should refer to the attached press release for comprehensive information regarding DHI's performance, including revenue, earnings, and any forward-looking guidance. While the 8-K itself is brief, it signals the release of key financial data. Investors are encouraged to review the referenced press release (Exhibit 99.1) for in-depth analysis of D.R. Horton's operational and financial condition during the reported period. This includes important metrics that will influence investor decisions regarding the company's stock.
HORTON D R INC /DE/ 8-K Report, Material Agreement (Feb 21, 2024)
D.R. Horton, Inc. (DHI) announced a material amendment to its existing repurchase facility through its subsidiary, DHI Mortgage Company, Ltd. The Second Amendment to the Fourth Amended and Restated Master Repurchase Agreement, effective February 16, 2024, primarily concerns the financing and liquidity provided to DHI Mortgage. This facility allows DHI Mortgage to transfer eligible loans to buyers in exchange for funds, essentially a financing mechanism for its loan portfolio. The key update is the modification of the Amended Repurchase Facility's terms. While the specific details of the amendment are not fully disclosed in this 8-K, it's crucial to note that the facility's Maximum Aggregate Commitment remains at $1.6 billion, with an expandable accordion feature allowing it to increase up to $2.0 billion under certain conditions, such as additional commitments from existing or new buyers. The facility extends until February 13, 2025, or earlier termination events. Importantly, D.R. Horton, Inc. does not guarantee amounts outstanding under this facility.
HORTON D R INC /DE/ 8-K Report, Financial Results (Jan 23, 2024)
D.R. Horton, Inc. (DHI) filed an 8-K on January 23, 2024, primarily to announce its financial results for the first quarter ended December 31, 2023. The company issued a press release detailing these results, which is incorporated by reference into the filing. Investors should refer to this press release for specific financial performance metrics and operational updates for the quarter. The filing also confirms the declaration of the company's quarterly dividend. While the 8-K itself does not contain the detailed financial figures, it directs stakeholders to the accompanying press release (Exhibit 99.1) for comprehensive information on revenue, net income, earnings per share, and other key performance indicators for the first quarter of fiscal year 2024.
HORTON D R INC /DE/ 8-K Report, Executive Changes (Jan 18, 2024)
D.R. Horton, Inc. (DHI) filed an 8-K on January 18, 2024, reporting key outcomes from its Annual Meeting of Stockholders held on January 17, 2024. The most significant development for investors is the overwhelming approval of the D.R. Horton, Inc. 2024 Stock Incentive Plan. This plan authorizes 18,900,000 new shares for awards, a crucial mechanism for long-term executive and employee compensation and future equity-based incentives. In addition to the new stock incentive plan, the meeting saw all director nominees elected with substantial support, and shareholders ratified the appointment of Ernst & Young LLP as the company's independent registered public accounting firm for fiscal year 2024. Furthermore, the advisory vote on executive compensation was approved, with a strong preference for annual voting frequency. These outcomes reflect continued shareholder confidence in the company's governance and compensation practices.
HORTON D R INC /DE/ 8-K Report, Financial Results (Nov 7, 2023)
D.R. Horton, Inc. (DHI) filed an 8-K on November 7, 2023, to report its financial results for the fourth quarter and full fiscal year ended September 30, 2023. The report primarily incorporates a press release announcing these results and the declaration of a quarterly dividend. While the filing itself is brief, the attached press release contains the crucial financial and operational details investors need to assess the company's performance. Investors should refer to Exhibit 99.1 for comprehensive information regarding D.R. Horton's performance, including revenue, net income, earnings per share, and other key operational metrics for the reported periods.
HORTON D R INC /DE/ 8-K Report, Executive Changes (Nov 3, 2023)
Horton D.R. Inc. (DHI) has filed an 8-K report on November 3, 2023, detailing the fiscal year 2024 compensation for its Chairman of the Board and Strategic Advisor, Donald R. Horton. The compensation package is designed to incentivize continued strategic guidance and leadership for the upcoming fiscal year, which ends on September 30, 2024. Key components of Mr. Horton's compensation include a substantial cash payment and a significant award of Restricted Stock Units (RSUs). This structure aims to align Mr. Horton's interests with those of the shareholders by tying a portion of his compensation to the company's stock performance. The RSUs will vest over a three-year period, promoting long-term commitment and value creation. Investors should note the details of this executive compensation as it represents a material aspect of the company's operational and financial planning for fiscal 2024.
HORTON D R INC /DE/ 8-K Report, Material Agreement (Oct 12, 2023)
D.R. Horton, Inc. (DHI) announced an amendment to its senior unsecured revolving credit facility through its subsidiary, DRH Rental, Inc. The key update involves extending the facility's termination date by two years, from its original expiration to October 10, 2027. This extension provides greater financial flexibility and certainty for the company over a longer horizon. Furthermore, the amendment significantly increases the facility's accordion feature, allowing for a potential expansion of the aggregate credit limit up to $2.0 billion, subject to certain conditions and lender commitments. This enhanced borrowing capacity could support future growth initiatives or provide additional liquidity during periods of increased demand or strategic opportunities. The core structure of the facility, including the guarantors (material wholly-owned subsidiaries of DRH Rental) and exclusions (D.R. Horton, Inc. and certain other subsidiaries), remains consistent.
HORTON D R INC /DE/ 8-K Report, Executive Changes (Sep 20, 2023)
D.R. Horton, Inc. (DHI) announced a significant leadership transition effective October 1, 2023, through an 8-K filing on September 20, 2023. The most impactful change for investors is the appointment of Paul J. Romanowski as the new President and Chief Executive Officer, succeeding David V. Auld. Mr. Romanowski, with extensive experience within DHI since 1999, including his recent role as Executive Vice President and Co-Chief Operating Officer, is well-positioned to lead the company. His appointment to the Board of Directors also strengthens its composition, increasing the total number of directors to eight. Concurrently, David V. Auld will transition to the role of Executive Vice Chair of the Board, a move that signifies a shift in executive responsibilities while retaining valuable leadership experience within the company. Donald R. Horton will continue as Chairman of the Board but will no longer serve as an executive officer. The Compensation Committee is expected to review executive compensation in light of these changes, which suggests a potential realignment of incentive structures moving forward.
HORTON D R INC /DE/ 8-K Report, Financial Results (Jul 20, 2023)
D.R. Horton, Inc. (DHI) filed an 8-K on July 20, 2023, to report its financial results for the third quarter ended June 30, 2023, and to announce its quarterly dividend declaration. The core of this filing is the press release (Exhibit 99.1) detailing the company's operational performance and financial condition during the quarter. Investors should pay close attention to the information provided in this press release for insights into DHI's business trajectory, profitability, and capital allocation strategies. While the 8-K itself is brief, it serves as the official notification and incorporation-by-reference mechanism for the more detailed press release. This means the actual financial and operational data, along with forward-looking statements or management commentary, are contained within Exhibit 99.1. Investors will need to review that exhibit to fully understand the implications of the company's third-quarter performance, including revenue, earnings, home closings, and any guidance provided for future periods. The declaration of a quarterly dividend also signals the company's ongoing commitment to returning capital to shareholders.
HORTON D R INC /DE/ 8-K Report, Financial Results (Apr 20, 2023)
D.R. Horton, Inc. (DHI) has filed an 8-K report on April 20, 2023, to announce its financial results for the second quarter ended March 31, 2023, and to declare its quarterly dividend. The press release containing these details is incorporated by reference into the filing, providing investors with key operational and financial performance updates. This report is crucial for understanding the company's recent performance and its outlook in the housing market. While the full financial details are within the referenced press release, the filing indicates that DHI has met its reporting obligations for the quarter. Investors should review the attached press release for specific figures on revenue, earnings per share, home sales, backlog, and any forward-looking guidance provided by the company. The declaration of a quarterly dividend also signals the company's confidence in its financial stability and its commitment to returning value to shareholders.
HORTON D R INC /DE/ 8-K Report, Material Agreement (Apr 10, 2023)
D.R. Horton, Inc. (DHI) announced through its subsidiary, DHI Mortgage Company, Ltd., the entry into a Master Repurchase Agreement with Royal Bank of Canada (RBC) on April 4, 2023. This agreement establishes a Repurchase Facility that provides DHI Mortgage with an uncommitted borrowing capacity of up to $300 million. Under this facility, DHI Mortgage can sell eligible residential mortgage loans to RBC and later repurchase them, effectively using these loans as collateral for short-term financing. This new facility offers DHI Mortgage a flexible source of liquidity, which can be crucial in managing its mortgage origination and servicing operations. The terms include variable interest rates based on SOFR plus a pricing spread, and are subject to customary covenants and financial requirements for DHI Mortgage, such as maintaining minimum tangible net worth and liquidity. Importantly, D.R. Horton, Inc. itself and its other major subsidiaries do not guarantee these obligations, highlighting the facility's specific use within the mortgage segment.
HORTON D R INC /DE/ 8-K Report, Material Agreement (Feb 21, 2023)
D.R. Horton, Inc. (DHI), through its wholly-owned subsidiary DHI Mortgage Company, Ltd., has entered into a First Amendment to its Fourth Amended and Restated Master Repurchase Agreement. This amendment, effective February 17, 2023, primarily serves to increase the financing and liquidity available to DHI Mortgage. The agreement facilitates the transfer of eligible loans by DHI Mortgage to buyers in exchange for funds, essentially a repurchase agreement structure. Key to investors is the significant increase in the facility's capacity, raising the Maximum Aggregate Commitment to $2.0 billion, with an additional accordion feature that can expand it to $2.3 billion. This enhanced liquidity suggests DHI Mortgage is positioning itself to manage its loan portfolio effectively and potentially support increased origination volumes. The facility's term has also been extended through February 16, 2024, providing a stable financing runway.
HORTON D R INC /DE/ 8-K Report, Executive Changes (Jan 30, 2023)
Horton D R Inc /DE/ (DHI) announced a significant leadership change through its January 30, 2023, 8-K filing, appointing David V. Auld, the current President and CEO, to the Board of Directors, effective January 26, 2023. This move expands the Board's size to seven directors, maintaining a majority of independent members. Mr. Auld's long-standing tenure and deep operational experience within the company, dating back to 1988 and including his leadership roles as President and CEO since 2014, solidify his integral position within DHI's strategic direction. Investors can view this appointment as a move to further align executive leadership with board oversight, leveraging Mr. Auld's comprehensive understanding of the company's homebuilding operations. Notably, Mr. Auld will not receive additional compensation for his board service, indicating a focus on unified governance rather than incremental executive costs. This appointment is a testament to his continued importance to the company's future performance and strategic decision-making.
HORTON D R INC /DE/ 8-K Report, Financial Results (Jan 24, 2023)
D.R. Horton, Inc. (DHI) has filed an 8-K report on January 24, 2023, to announce its financial results for the first quarter ended December 31, 2022, and to declare its quarterly dividend. The core of this filing is the attached press release (Exhibit 99.1), which provides investors with the company's performance metrics and forward-looking statements for the period. Investors should review this press release for details on revenue, profitability, and any strategic updates. The company also announced the declaration of its quarterly dividend. While specific dividend details are not within the 8-K itself, it signifies DHI's continued commitment to returning capital to shareholders. The filing serves as an official notification of these corporate actions, with the detailed financial outcomes and dividend information being accessible through the incorporated press release.
HORTON D R INC /DE/ 8-K Report, Shareholder Vote Results (Jan 18, 2023)
On January 18, 2023, D.R. Horton, Inc. (DHI) held its Annual Meeting of Stockholders, reporting strong support for key governance matters. The meeting's primary agenda items included the election of directors, an advisory vote on executive compensation, and the ratification of the company's independent auditor. The overwhelming majority of votes cast on each proposal indicates a high level of confidence from the company's shareholders in its current leadership and financial oversight. Key outcomes from the meeting demonstrate robust shareholder backing. All six director nominees were overwhelmingly elected, and the company's executive compensation plan received significant approval. Furthermore, the appointment of Ernst & Young LLP as the independent registered public accounting firm for fiscal year 2023 was also ratified with broad support. These results suggest a stable and well-supported corporate governance structure for DHI.
HORTON D R INC /DE/ 8-K Report, Financial Results (Nov 9, 2022)
D.R. Horton, Inc. (DHI) filed an 8-K on November 9, 2022, to announce its financial results for the fourth quarter and full fiscal year ended September 30, 2022. The filing incorporates by reference a press release detailing these results and the declaration of a quarterly dividend. Investors should refer to the attached press release for specific financial figures and operational performance metrics. This report serves as a notification of these key financial updates, providing investors with timely information regarding the company's performance and shareholder distributions.
HORTON D R INC /DE/ 8-K Report, Material Agreement (Nov 1, 2022)
D.R. Horton, Inc. (DHI) filed an 8-K on November 1, 2022, detailing an amendment to its Credit Agreement. The primary focus of this amendment is the extension of the Revolving Credit Facility Termination Date from its previous term to October 28, 2027. This extension provides DHI with continued access to a significant source of liquidity for an additional five years, which is crucial for its ongoing operations and strategic initiatives in the homebuilding sector. Furthermore, the amendment addresses the transition away from LIBOR by replacing the LIBOR-based interest rate with SOFR-based rates. This change aligns DHI's financing with the broader market shift to alternative reference rates, mitigating potential risks associated with the discontinuation of LIBOR and ensuring greater predictability in borrowing costs. Investors should view this as a proactive measure to maintain financial flexibility and stability.
HORTON D R INC /DE/ 8-K Report, Financial Results (Jul 21, 2022)
D.R. Horton, Inc. (DHI) announced its third quarter financial results for the period ended June 30, 2022, via a press release filed on July 21, 2022. The report primarily references this press release, which contains the detailed operational and financial performance for the quarter. Investors should refer to Exhibit 99.1 for the complete financial details. Key financial and operational information is expected to be within the press release. The filing also notes the declaration of a quarterly dividend, indicating continued commitment to returning capital to shareholders. As is standard for 8-K filings under Item 2.02, the information provided is furnished and not deemed 'filed' for regulatory purposes, meaning it does not carry the same liability as formally filed information.
HORTON D R INC /DE/ 8-K Report, Financial Results (Apr 26, 2022)
D.R. Horton, Inc. (DHI) reported its second-quarter fiscal year 2022 financial results and declared a quarterly dividend on April 26, 2022. This 8-K filing primarily serves to announce these events, with the detailed financial information contained within the attached press release (Exhibit 99.1). Investors should refer to the press release for specific performance metrics and forward-looking statements. The company also announced its quarterly dividend declaration. While the 8-K itself does not provide the dividend amount or payment date, this information is available in the referenced press release. This filing underscores DHI's ongoing commitment to returning capital to shareholders while signaling continued operational activity and financial reporting.
HORTON D R INC /DE/ 8-K Report, Executive Changes (Mar 29, 2022)
Hortonville D.R. Inc. (DHI) announced significant adjustments to its executive compensation program, effective immediately, following stockholder feedback and a review by its Compensation Committee. These changes are designed to further align executive incentives with stockholder interests and enhance long-term value creation. The company has responded to feedback from its 2022 Annual Meeting and the advisory vote on executive compensation by modifying both short-term and long-term incentive structures. The core of the revisions involves changes to how short-term incentives are calculated and paid, increasing the weighting of long-term incentives, and introducing more stringent performance metrics for performance-based stock units (PSUs). Specifically, short-term payouts will now be based on reduced percentages of Pre-Tax Income and capped at a total dollar value, with a portion of the Chairman and CEO's awards subject to a two-year holding period. Long-term incentives will represent a greater portion of total compensation, incorporating performance and time-based equity awards with vesting periods of at least three years. Furthermore, PSUs for fiscal year 2022 will require higher relative performance rankings within a peer group to achieve threshold and target payouts.
HORTON D R INC /DE/ 8-K Report, Material Agreement (Mar 7, 2022)
D.R. Horton, Inc. (DHI) announced through its wholly-owned subsidiary, DRH Rental, Inc., the establishment of a new $625 million four-year senior unsecured revolving credit facility. This facility, maturing on March 4, 2026, is designed to support the company's multi-family and single-family rental operations. The credit facility includes an uncommitted accordion feature that allows for an expansion of up to $1.25 billion, providing significant flexibility for future growth and capital needs. Key terms of the facility involve DRH Rental's material wholly-owned subsidiaries acting as guarantors, though D.R. Horton itself and other subsidiaries guaranteeing homebuilding debt are excluded. The borrowing availability is contingent on a borrowing base calculation, and pricing is tied to DRH Rental's Leverage Ratio. The agreement also stipulates customary covenants and financial requirements, including maintaining a minimum tangible net worth, liquidity, and a maximum leverage ratio, ensuring financial discipline within the rental segment.
HORTON D R INC /DE/ 8-K Report, Material Agreement (Feb 18, 2022)
On February 18, 2022, D.R. Horton, Inc. (DHI) announced that its subsidiary, DHI Mortgage Company, Ltd., entered into a Fourth Amended and Restated Master Repurchase Agreement (the "Amended Repurchase Facility"). This agreement is a crucial financing tool that provides liquidity to DHI Mortgage by enabling purchase transactions where eligible loans are transferred to buyers in exchange for funds. The facility replaces a prior agreement and signifies an expansion of DHI's financing capacity. The key takeaway for investors is the significant increase in the financing capacity of the repurchase facility. The Maximum Aggregate Commitment has been raised to $1.6 billion, with the potential to increase further to between $1.8 billion and $2.2 billion during high-volume periods. Furthermore, an "accordion feature" allows for an even higher commitment of up to $2.3 billion, contingent on securing additional funds from existing or new buyers. Importantly, these obligations are not guaranteed by the parent company, D.R. Horton, Inc., or its homebuilding debt guarantors, which limits direct recourse to the parent entity.
HORTON D R INC /DE/ 8-K Report, Financial Results (Feb 2, 2022)
D.R. Horton, Inc. (DHI) filed an 8-K on February 2, 2022, to report its financial results for the first quarter ended December 31, 2021. The accompanying press release (Exhibit 99.1) details the company's performance and also announces the declaration of its quarterly dividend. Investors should note that the information furnished in this 8-K, specifically regarding the results of operations, is considered furnished and not filed, meaning it's not subject to the liabilities of Section 18 of the Exchange Act unless explicitly incorporated into a registration statement. While the 8-K itself is brief, it serves as the official notification of the press release containing crucial Q1 2022 financial data. Investors looking for specific financial metrics such as revenue, net income, earnings per share, and details on home closings and order backlog should refer to the attached press release (Exhibit 99.1) for the comprehensive financial details. The declaration of a quarterly dividend is also a key piece of information for income-focused investors.
HORTON D R INC /DE/ 8-K Report, Shareholder Vote Results (Jan 27, 2022)
D.R. Horton, Inc. (DHI) held its Annual Meeting of Stockholders on January 26, 2022, where key governance and operational matters were put to a vote. The meeting's outcomes reveal a strong endorsement for the company's leadership and auditor, but a notable advisory vote against executive compensation. Investors should pay close attention to the response from the Board of Directors and the Compensation Committee regarding the shareholder dissent on executive pay.