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D.R. Horton Inc (DHI), America's largest homebuilder, maintains this dedicated news hub for investors and industry stakeholders. Access timely updates on corporate developments, regulatory filings, and market-moving announcements directly from the source.
Our curated collection provides essential insights into DHI's operational milestones, including quarterly earnings disclosures, strategic community developments, and leadership updates. Track the company's progress across 36 states through verified reports on inventory expansions, pricing strategies, and mortgage service enhancements.
Key coverage areas include homebuilding innovations, financial service updates, and market expansion initiatives. All content undergoes strict verification to ensure compliance with SEC regulations and financial reporting standards.
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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.
Forestar Group Inc. (NYSE: FOR) has announced a proposed offering of $500 million in senior unsecured notes due 2033. The notes will be offered through private placement to qualified institutional buyers under Rule 144A of the Securities Act and to non-U.S. persons under Regulation S.
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 borrowings under the company's credit facility. The notes will not be registered under the Securities Act or state securities laws and are subject to specific trading restrictions.
D.R. Horton (NYSE:DHI) has announced the pricing of a $700 million registered public offering of senior notes due 2035. The notes will carry a 5.500% interest rate, payable semi-annually, with maturity set for October 15, 2035. The offering is expected to close on February 26, 2025, subject to customary conditions.
The company plans to use the net proceeds for general corporate purposes. Several major financial institutions are acting as Joint Book-Running Managers, including Mizuho Securities USA , J.P. Morgan Securities , and TD Securities (USA) , among others.
D.R. Horton (NYSE:DHI) has announced the release date for its second quarter fiscal 2025 financial results, scheduled for Thursday, April 17, 2025, before market opening. The company will host a conference call at 8:30 a.m. Eastern Time on the same day.
Investors can access the call via phone (dial-in: 888-506-0062, access code: 445791) or through a webcast on the company's investor relations website. A replay will be available through April 24, 2025 (phone) and July 31, 2025 (webcast).
Forestar Group (NYSE: FOR) has announced it will release its second quarter fiscal 2025 financial results on Thursday, April 17, 2025, before market opens. The company will host a conference call at 11:00 a.m. Eastern Time on the same day.
Investors can join the call using dial-in number 888-506-0062 with access code 865137. Participants are advised to call in five minutes early. The call will also be webcast on the company's investor website. A replay will be available after 3:00 p.m. ET at 877-481-4010 using passcode 52040, accessible through April 24, 2025. The webcast replay will remain available on the company's website until July 31, 2025.
