Updated May 29, 2025, 9:54 PM UTC
| Income Statement - Metric | Q1 2022 | Q2 2022 | Q3 2022 | Q4 2022 | FY 2022 | Q1 2023 | Q2 2023 | Q3 2023 | Q4 2023 | FY 2023 | Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | FY 2024 | Q1 2025 | Q2 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenues: Home sales (USD, thousands) | 9,866,026 | 1,931,836 | 2,647,020 | 2,724,472 | 3,260,004.00 | 10,563,332 | 1,840,776 | 2,706,453 | |||||||||
| Revenues: Land sales and other (USD, thousands) | 128,911 | 16,012 | 190,466 | 3,472 | 73,458.00 | 283,408 | 18,355 | 32,624 | |||||||||
| Revenues: Total Revenues (USD, thousands) | 9,994,937 | 1,947,848 | 2,837,486 | 2,727,944 | 3,333,462.00 | 10,846,740 | 1,859,131 | 2,739,077 | |||||||||
| Cost of revenues: Home sales (USD, thousands) | 7,207,279 | 1,399,226 | 1,963,283 | 1,977,162 | 2,413,680.00 | 7,753,351 | 1,381,480 | 2,002,218 | |||||||||
| Cost of revenues: Land sales and other (USD, thousands) | 153,457 | 10,161 | 12,979 | 8,778 | 38,993.00 | 70,911 | 18,106 | 31,421 | |||||||||
| Cost of revenues: Total Cost of revenues (USD, thousands) | 7,360,736 | 1,409,387 | 1,976,262 | 1,985,940 | 2,452,673.00 | 7,824,262 | 1,399,586 | 2,033,639 | |||||||||
| Selling, general and administrative expenses (USD, thousands) | 909,446 | 230,046 | 237,698 | 244,813 | 269,734.00 | 982,291 | 240,414 | 255,760 | |||||||||
| Income from operations (USD, thousands) | 1,724,755 | 308,415 | 623,526 | 497,191 | 611,055.00 | 2,040,187 | 219,131 | 449,678 | |||||||||
| Income (loss) from unconsolidated entities (USD, thousands) | 50,098 | (9,172) | 5,887 | (10,514) | (10,044.00) | (23,843) | (8,743) | 11,489 | |||||||||
| Other income - net (USD, thousands) | 67,518 | 11,918 | 20,366 | 16,950 | 20,062.00 | 69,296 | 10,994 | 16,336 | |||||||||
| Income before income taxes (USD, thousands) | 1,842,371 | 311,161 | 649,779 | 503,627 | 621,073.00 | 2,085,640 | 221,382 | 477,503 | |||||||||
| Income tax provision (USD, thousands) | 470,300 | 71,603 | 168,162 | 129,016 | 145,664.00 | 514,445 | 43,679 | 125,056 | |||||||||
| Net income (USD, thousands) | 1,372,071 | 239,558 | 481,617 | 374,611 | 475,409.00 | 1,571,195 | 177,703 | 352,447 | |||||||||
| Other comprehensive (loss) income – net of tax (USD, thousands) | 3,292 | (3,898) | 2,815 | (3,789) | (4,761.00) | (9,633) | (905) | (2,242) | |||||||||
| Total comprehensive income (USD, thousands) | 1,375,363 | 235,660 | 484,432 | 370,822 | 470,648.00 | 1,561,562 | 176,798 | 350,205 | |||||||||
| Basic earnings per share (USD) | 12.47 | 2.28 | 4.60 | 3.64 | 4.64 | 15.16 | 1.76 | 3.53 | |||||||||
| Diluted earnings per share (USD) | 12.36 | 2.25 | 4.55 | 3.60 | 4.61 | 15.01 | 1.75 | 3.50 | |||||||||
| Weighted-average basic shares outstanding (thousands) | 110,020 | 105,122 | 104,794 | 102,980 | (209,243.00) | 103,653 | 100,830 | 99,890 | |||||||||
| Weighted-average diluted shares outstanding (thousands) | 111,008 | 106,265 | 105,803 | 104,014 | (211,392.00) | 104,690 | 101,830 | 100,585 | |||||||||
| Balance Sheet - Metric | Q1 2022 | Q2 2022 | Q3 2022 | Q4 2022 | FY 2022 | Q1 2023 | Q2 2023 | Q3 2023 | Q4 2023 | FY 2023 | Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | FY 2024 | Q1 2025 | Q2 2025 |
| Cash and cash equivalents (USD, thousands) | 1,300,068 | 754,793 | 1,030,530 | 893,422 | 1,303,039 | 1,303,039 | 574,834 | 686,466 | |||||||||
| Inventory (USD, thousands) | 9,057,578 | 9,581,482 | 9,926,939 | 10,198,060 | 9,712,925 | 9,712,925 | 10,677,502 | 10,994,873 | |||||||||
| Property, construction, and office equipment - net (USD, thousands) | 323,990 | 321,668 | 321,166 | 459,234 | 453,007 | 453,007 | 455,208 | 450,024 | |||||||||
| Receivables, prepaid expenses, and other assets (USD, thousands) | 691,256 | 702,030 | 724,399 | 577,993 | 590,611 | 590,611 | 595,692 | 583,422 | |||||||||
| Mortgage loans held for sale - at fair value (USD, thousands) | 110,555 | 73,270 | 136,346 | 137,627 | 191,242 | 191,242 | 99,620 | 195,651 | |||||||||
| Customer deposits held in escrow (USD, thousands) | 84,530 | 92,901 | 108,521 | 109,783 | 109,691 | 109,691 | 112,671 | 113,086 | |||||||||
| Investments in unconsolidated entities (USD, thousands) | 959,041 | 995,811 | 1,002,458 | 983,592 | 1,007,417 | 1,007,417 | 1,106,576 | 1,172,302 | |||||||||
| Total Assets (USD, thousands) | 12,527,018 | 12,521,955 | 13,250,359 | 13,359,711 | 13,367,932 | 13,367,932 | 13,622,103 | 14,195,824 | |||||||||
| Loans payable (USD, thousands) | 1,164,224 | 1,064,149 | 1,113,126 | 1,099,787 | 1,085,817 | 1,085,817 | 1,058,765 | 1,052,710 | |||||||||
| Senior notes (USD, thousands) | 1,596,185 | 1,596,414 | 1,596,644 | 1,596,873 | 1,597,102 | 1,597,102 | 1,597,316 | 1,597,544 | |||||||||
| Mortgage company loan facility (USD, thousands) | 100,058 | 63,194 | 127,541 | 125,417 | 150,000 | 150,000 | 89,958 | 150,000 | |||||||||
| Customer deposits (Liability) (USD, thousands) | 540,718 | 534,367 | 542,877 | 523,982 | 488,690 | 488,690 | 518,200 | 514,965 | |||||||||
| Accounts payable (USD, thousands) | 597,582 | 610,459 | 694,422 | 675,471 | 492,213 | 492,213 | 650,714 | 666,488 | |||||||||
| Accrued expenses (USD, thousands) | 1,548,781 | 1,463,546 | 1,636,722 | 1,777,553 | 1,752,848 | 1,752,848 | 1,830,701 | 2,088,588 | |||||||||
| Income taxes payable (USD, thousands) | 166,268 | 154,181 | 214,833 | 129,582 | 114,547 | 114,547 | 64,955 | 161,114 | |||||||||
| Total liabilities (USD, thousands) | 5,713,816 | 5,486,310 | 5,926,165 | 5,928,665 | 5,681,217 | 5,681,217 | 5,810,609 | 6,231,409 | |||||||||
| Common stock (USD, thousands) | 1,129 | 1,129 | 1,129 | 1,129 | 1,129 | 1,129 | 1,129 | 1,129 | |||||||||
| Additional paid-in capital (USD, thousands) | 698,548 | 685,941 | 689,259 | 692,700 | 694,713 | 694,713 | 674,492 | 679,434 | |||||||||
| Retained earnings (USD, thousands) | 6,675,719 | 6,892,821 | 7,350,235 | 7,701,274 | 8,153,356 | 8,153,356 | 8,307,555 | 8,634,857 | |||||||||
| Treasury stock, at cost (USD, thousands) | (619,150) | (597,632) | (772,476) | (1,016,277) | (1,209,547) | (1,209,547) | (1,217,942) | (1,394,825) | |||||||||
| Accumulated other comprehensive income (AOCI) (USD, thousands) | 40,910 | 37,012 | 39,827 | 36,038 | 31,277 | 31,277 | 30,372 | 28,130 | |||||||||
| Total stockholders’ equity (USD, thousands) | 6,797,156 | 7,019,271 | 7,307,974 | 7,414,864 | 7,670,928 | 7,670,928 | 7,795,606 | 7,948,725 | |||||||||
| Noncontrolling interest (USD, thousands) | 16,046 | 16,374 | 16,220 | 16,182 | 15,787 | 15,787 | 15,888 | 15,690 | |||||||||
| Total equity (USD, thousands) | 6,813,202 | 7,035,645 | 7,324,194 | 7,431,046 | 7,686,715 | 7,686,715 | 7,811,494 | 7,964,415 | |||||||||
| Total Liabilities and Equity (USD, thousands) | 12,527,018 | 12,521,955 | 13,250,359 | 13,359,711 | 13,367,932 | 13,367,932 | 13,622,103 | 14,195,824 | |||||||||
| Cash Flow - Metric | Q1 2022 | Q2 2022 | Q3 2022 | Q4 2022 | FY 2022 | Q1 2023 | Q2 2023 | Q3 2023 | Q4 2023 | FY 2023 | Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | FY 2024 | Q1 2025 | Q2 2025 |
| Net income [USD, thousands] | 1,372,071 | 239,558 | 481,617 | 374,611.00 | 475,409.00 | 1,571,195 | 177,703 | 352,447.00 | |||||||||
| Depreciation and amortization [USD, thousands] | 76,473 | 16,143 | 19,140 | 20,145.00 | 25,773.00 | 81,201 | 17,165 | 20,775.00 | |||||||||
| Loss (income) from unconsolidated entities [USD, thousands] | (50,098) | 9,172 | (5,887) | 10,514.00 | (37,642.00) | (23,843) | 8,743 | (11,489.00) | |||||||||
| Distributions of earnings from unconsolidated entities [USD, thousands] | 88,393 | 2,737 | 22,675 | 6,040.00 | 7,824.00 | 39,276 | 4,810 | 4,231.00 | |||||||||
| Deferred tax provision [USD, thousands] | 36,239 | 1,895 | 5,321 | 4,819.00 | (92,365.00) | (80,330) | 1,535 | 3,466.00 | |||||||||
| Impairment charges and write-offs [USD, thousands] | 69,537 | 1,471 | 33,929 | 11,065.00 | 26,324.00 | 72,789 | 22,705 | 9,757.00 | |||||||||
| (Gain) loss on sale of assets [USD, thousands] | (416) | - | (5,042) | - | - | (5,042) | - | - | |||||||||
| Other - net (Operating activities) [USD, thousands] | 3,181 | (751) | (222) | (599.00) | 28.00 | (1,544) | 1,196 | (548.00) | |||||||||
| Origination of mortgage loans [USD, thousands] | (1,602,700) | (364,600) | (511,525) | (574,729.00) | (686,424.00) | (2,137,278) | (430,692) | (681,557.00) | |||||||||
| Sale of mortgage loans [USD, thousands] | 1,681,610 | 405,112 | 446,734 | 575,799.00 | 631,135.00 | 2,058,780 | 523,092 | 587,286.00 | |||||||||
| Receivables, prepaid expenses, and other assets (Operating activities) [USD, thousands] | (135,924) | (21,587) | (3,230) | 12,058.00 | 13,264.00 | 505 | (1,488) | 6,158.00 | |||||||||
| Current income taxes – net [USD, thousands] | (162,570) | (12,655) | 54,377 | (88,760.00) | 78,965.00 | 31,927 | (50,822) | 93,453.00 | |||||||||
| Customer deposits – net (Operating activities) [USD, thousands] | (88,285) | (14,722) | (7,110) | (20,157.00) | (35,200.00) | (77,189) | 26,530 | (3,650.00) | |||||||||
| Accounts payable and accrued expenses (Operating activities) [USD, thousands] | (23,674) | (87,958) | 104,650 | 113,700.00 | (152,182.00) | (21,790) | 92,956 | 46,145.00 | |||||||||
| Net cash provided by (used in) operating activities [USD, thousands] | 1,266,430 | (306,982) | 459,026 | 175,612.00 | 682,511.00 | 1,010,167 | (420,775) | 362,846.00 | |||||||||
| Purchase of property, construction, and office equipment – net [USD, thousands] | (72,961) | (13,581) | (16,120) | (25,752.00) | (18,190.00) | (73,643) | (17,325) | (15,591.00) | |||||||||
| Investments in unconsolidated entities (Investing activities) [USD, thousands] | (216,438) | (58,925) | (40,643) | (34,912.00) | (58,755.00) | (193,235) | (118,747) | (61,143.00) | |||||||||
| Return of investments in unconsolidated entities [USD, thousands] | 112,749 | 13,142 | 16,160 | 45,015.00 | 27,046.00 | 101,363 | 18,428 | 9,751.00 | |||||||||
| Other - net (Investing activities) [USD, thousands] | - | - | (719) | - | - | (3,242) | (1,813) | (1,317.00) | |||||||||
| Net cash used in investing activities [USD, thousands] | (150,601) | (59,364) | (41,322) | (15,348.00) | (51,584.00) | (167,618) | (119,457) | (68,300.00) | |||||||||
| Proceeds from loans payable (Financing activities) [USD, thousands] | 3,079,142 | 744,565 | 948,818 | 1,075,555.00 | 975,789.00 | 3,744,727 | 823,131 | 1,284,825.00 | |||||||||
| Debt issuance costs [USD, thousands] | (5,365) | - | - | - | - | (202) | - | - | |||||||||
| Principal payments of loans payable (Financing activities) [USD, thousands] | (3,239,418) | (890,178) | (880,925) | (1,094,746.00) | (978,967.00) | (3,844,816) | (929,660) | (1,244,605.00) | |||||||||
| Proceeds (payments) related to stock-based benefit plans – net [USD, thousands] | 48,269 | (9,279) | 5,739 | 1,681.00 | 5,990.00 | 4,131 | (22,887) | 646.00 | |||||||||
| Purchase of treasury stock and excise tax payment (Financing activities) [USD, thousands] | (561,595) | (56) | (180,027) | (243,476.00) | (203,502.00) | (627,061) | (23,748) | (181,157.00) | |||||||||
| Dividends paid (Financing activities) [USD, thousands] | (91,082) | (23,264) | (23,805) | (23,265.00) | (23,067.00) | (93,401) | (24,414) | (24,632.00) | |||||||||
| Receipts (payments) related to noncontrolling interest – net (Financing activities) [USD, thousands] | 11 | 167 | 0 | 0.00 | 0.00 | 167 | 386 | 0.00 | |||||||||
| Net cash used in financing activities [USD, thousands] | (1,170,038) | (178,045) | (130,200) | (284,444.00) | (223,766.00) | (816,455) | (177,192) | (185,882.00) | |||||||||
| Net increase (decrease) in cash, cash equivalents, and restricted cash [USD, thousands] | (54,209) | (544,391) | 287,504 | (124,180.00) | 407,161.00 | 26,094 | (717,424) | 108,664.00 | |||||||||
| Inventory (Operating activities) [USD, thousands] | (22,212) | (499,047) | (180,290) | (272,706.00) | 376,309.00 | (575,734) | (832,230) | (900,631) | |||||||||
| Cash, cash equivalents, and restricted cash, beginning of period [USD, thousands] | 1,398,550 | 1,344,341 | 1,344,341 | 1,344,341 | 1,344,341 | 1,344,341 | 1,370,435 | 1,370,435 | |||||||||
| Cash, cash equivalents, and restricted cash, end of period [USD, thousands] | 1,344,341 | 799,950 | 1,087,454 | 963,274 | 1,370,435 | 1,370,435 | 653,011 | 761,675 | |||||||||
| Revenue by Segment - in Millions of USD | Q1 2022 | Q2 2022 | Q3 2022 | Q4 2022 | FY 2022 | Q1 2023 | Q2 2023 | Q3 2023 | Q4 2023 | FY 2023 | Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | FY 2024 | Q1 2025 | Q2 2025 |
| Home Sales | 9,866.0 | 1,931.8 | 2,647.0 | 2,724.5 | 3,26 | 10,563.3 | 1,840.8 | 2,706.5 | |||||||||
| - Land Sales and Other | 128.9 | 16.0 | 190.5 | 3.5 | 73.4 | 283.4 | 18.4 | 32.6 | |||||||||
| - Ancillary Businesses | 140.3 | 0.84 | - | - | - | 165.615 | - | - | |||||||||
| - Land Development JVs | 240.4 | - | - | - | - | 269.545 | - | - | |||||||||
| - Home Building JVs | 38.1 | - | - | - | - | 252.415 | - | - | |||||||||
| - Rental Property JVs | 238.7 | - | - | - | - | 273.353 | - | - | |||||||||
| - Other JVs | 28.2 | - | - | - | - | 57.663 | - | - | |||||||||
| Total Revenue | 9,994.9 | 1,947.8 | 2,837.5 | 2,727.9 | 3,333.5 | 10,846.7 | 1,859.1 | 2,739.1 | |||||||||
| Revenue by Geography - in Millions of USD | Q1 2022 | Q2 2022 | Q3 2022 | Q4 2022 | FY 2022 | Q1 2023 | Q2 2023 | Q3 2023 | Q4 2023 | FY 2023 | Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | FY 2024 | Q1 2025 | Q2 2025 |
| North | 1,494.1 | 272.6 | 335.2 | 375.1 | 501.4 | 1,484.3 | 254.7 | - | |||||||||
| - Land Sales and Other | - | - | - | - | - | 1.4 | - | - | |||||||||
| Mid-Atlantic | 1,175.3 | 264.1 | 376.1 | 335.7 | 446.1 | 1,422.0 | 236.2 | - | |||||||||
| South | 2,204.8 | 532.9 | 658.4 | 776.3 | 819.8 | 2,787.4 | 506.3 | - | |||||||||
| Mountain | 2,660.7 | 453.4 | 603.6 | 670.0 | 863.4 | 2,590.4 | 556.7 | - | |||||||||
| Pacific | 2,329.4 | 409.0 | 674.7 | 566.4 | 629 | 2,279.1 | 287.1 | - | |||||||||
| Total Home Sales | 9,864.3 | 1,931.8 | 2,648.0 | 2,723.5 | 3,26 | 10,563.3 | 1,840.7 | - | |||||||||
| Total Land Sales and Other | 128.9 | 16.0 | - | 3.5 | - | 268.5 | - | - | |||||||||
| Total Revenue | 9,994.9 | 1,947.8 | 2,837.5 | 2,727.9 | 3,333.5 | 10,846.7 | 1,859.1 | - |