D.R. Horton authorizes additional $5 billion share buyback program
The homebuilder expands its repurchase authorization and expects total fiscal 2026 buybacks to reach at least $3.25 billion.
D.R. Horton, Inc. (DHI) announced Monday that its board of directors authorized the repurchase of an additional $5 billion of the company's common stock. The new authorization carries no expiration date, according to a regulatory filing.
Key takeaways
- D.R. Horton authorized an additional
$5 billionin common stock repurchases. - The new authorization has no expiration date.
- The company had approximately
$53 millionremaining under its prior stock repurchase authorization on Sept. 15, 2026. - Total fiscal 2026 share repurchases are now expected to reach at least
$3.25 billion.
Buyback authorization details
The board of directors approved the expansion of the share repurchase program on Sept. 15, 2026. Prior to the new authorization, the company had roughly $53 million left under its previous buyback plan. Alongside the expanded authorization, the company updated its outlook for capital returns, stating it now expects total share repurchases for fiscal 2026 to hit at least $3.25 billion.
Why it matters
Share repurchase authorizations reduce the number of outstanding shares, which can increase earnings per share if net income remains steady or grows. By increasing the buyback capacity to $5 billion without a termination date, the company provides itself with capital allocation flexibility for returning cash to shareholders over an open-ended timeline.
By the numbers
| Metric | Value | Source |
|---|---|---|
| New share repurchase authorization | $5 billion | SEC filing |
| Remaining prior authorization | $53 million | SEC filing |
| Expected fiscal 2026 repurchases | At least $3.25 billion | SEC filing |
| Authorization date | Sept. 15, 2026 | SEC filing |
Remaining details and timeline
The filing did not specify a timeline for when the newly authorized funds will be fully deployed or the exact rate at which shares will be repurchased in the open market. Purchases under the program depend on market conditions, stock price, and alternative capital uses as determined by management.