Homebuilder Narrows Full-Year Revenue Outlook After Q3 Results

A major U.S. homebuilder posted third-quarter earnings that exceeded analyst estimates while reducing its full-year revenue and home-closure targets. The company reported earnings per share of $3.20, compared with $3.36 a year earlier. Analysts had expected $2.98.

The firm now projects full-year revenue between $32.5 billion and $33.0 billion. Its prior range was $33.5 billion to $34.5 billion. It also lowered its forecast for homes closed in the fiscal year to between 83,800 and 84,300. The previous outlook called for 86,000 to 87,500 closings.

The company maintained its projection for dividend payments of about $500 million in 2026. >"Still Sees 2026 Div Payments Of About $500" — Company earnings release, July 2026.

The earnings release did not provide commentary on market conditions or reasons for the guidance change. Earlier this month, pharmaceutical company Novartis reported second-quarter net sales of $14.41 billion and core earnings per share of $2.41, both above estimates, while reaffirming its full-year 2026 guidance.