D.R. Horton Board Authorizes New $5.0 Billion Share Repurchase Program

D.R. Horton, Inc. ($DHI) Announces $5.0 Billion Share Repurchase Authorization

Key Highlights

• New Repurchase Program: On September 15, 2026, the Board of Directors of D.R. Horton, Inc. authorized the repurchase of an additional $5.0 billion of common stock with no expiration date.
• Status of Prior Authorization: The Company had approximately $53 million remaining under its previous stock repurchase authorization as of September 15, 2026.
• Updated FY2026 Guidance: D.R. Horton now expects total fiscal 2026 repurchases of common stock to reach at least $3.25 billion.

Capital Allocation & Strategic Impact

• Shareholder Return Commitment: The sizable $5.0 billion authorization reflects strong cash flow generation and continued management confidence in the company's long-term business fundamentals.
• Earnings Accretion: Accelerating repurchases toward at least $3.25 billion in fiscal 2026 will reduce the outstanding share count, providing direct support to earnings per share (EPS).
• Market Significance: Share repurchase authorizations of this scale in the homebuilding sector typically indicate substantial capital surplus and disciplined capital return strategies.