D.R. Horton — Jan 21, 2025 release

Financial services pre-tax income for the quarter was $48.6 million with a pre-tax profit margin of 26.7% compared to $66.0 million of pre-tax income and a 34.3% pre-tax profit margin in the prior year quarter. Dividends During the first quarter of fiscal 2025, the Company paid cash dividends of $128.5 million. Subsequent to quarter end, the Company declared a quarterly cash dividend of $0.40 per common share that is payable on February 14, 2025 to stockholders of record on February 7, 2025. Share Repurchases The Company repurchased 6.8 million shares of common stock for $1.1 billion during the first quarter of fiscal 2025. The Company’s number of common shares outstanding at December 31, 2024 was 317.7 million, down 4% from 332.2 million shares outstanding at December 31, 2023. The Company’s remaining stock repurchase authorization at December 31, 2024 was $2.5 billion. Guidance Based on current market conditions and the Company’s results for the first quarter of the year, D.R. Horton is reiterating its guidance for fiscal 2025 as follows: • Consolidated revenues of approximately $36.0 billion to $37.5 billion • Homes closed by homebuilding operations of 90,000 homes to 92,000 homes • Consolidated cash flow provided by operations greater than fiscal 2024 • Dividend payments of approximately $500 million The Company is updating its fiscal 2025 guidance as follows: • Income tax rate of approximately 24.0% • Share repurchases in the range of $2.6 billion to $2.8 billion The Company plans to also provide guidance for its second quarter of fiscal 2025 on its conference call today. Conferen