| Metric | Value ($ M) | Q1 FY25 |
|---|---|---|
| Revenue | 887.84 | 10.3% |
| Total Income | 887.84 | 10.3% |
| Expenditure | 869.34 | 5.4% |
| PBT | 18.81 | 73.6% |
| Net Profit | 13.26 | 75.8% |
| OPM | — | |
| NPM | 1.49% | 4.05pp |
| EPS | 0.11 | 80.0% |
Dream Finders Homes Reports Q1 2026: Net Sales Up 19% to 2,408
03 May 2026 · 3 May, 5:23 pm
Summary
Dream Finders Homes announced its financial results for the first quarter ended March 31, 2026. Net sales increased by 19% to 2,408, while homebuilding revenues decreased to $837 million compared to $970 million in the prior year. The homebuilding gross margin was 14.5%, and the adjusted homebuilding gross margin was 24.3%. The company maintains its full year 2026 guidance of approximately 9,250 home closings.
Key Highlights
- 1
Net sales increased by 19% to 2,408 in the first quarter of 2026, compared to 2,032 in the first quarter of 2025.
- 2
Homebuilding revenues were $837 million, compared to $970 million in the same quarter of the previous year.
- 3
The homebuilding gross margin was 14.5%, compared to 19.2% in the first quarter of 2025.
- 4
Adjusted homebuilding gross margin was 24.3%, compared to 27.8% in the first quarter of the prior year.
- 5
Net income attributable to DFH was $13 million, or $0.11 per basic share, compared to $55 million, or $0.55 per basic share, in the first quarter of 2025.
- 6
The company repurchased 1,063,560 Class A common shares for $18 million during the three months ended March 31, 2026.
- 7
Dream Finders Homes maintains its guidance of approximately 9,250 home closings for the full year 2026.
Management Comments
Patrick Zalupski
We continue to operate in a challenging environment as elevated mortgage rates and broader macroeconomic uncertainty have impacted affordability and consumer confidence across our markets. Despite these headwinds, I believe the team did an admirable job showing our ability to adapt pricing and incentive strategies to align with current market conditions, which enabled us to generate record net sales in the first quarter of 2,408, a 19% increase from the prior year quarter. While closings and profitability were impacted in the short term, our strong sales performance reflects continued demand for our product and the effectiveness of our approach in maintaining absorption in a competitive environment. As we have consistently stated, our focus remains on managing the business with discipline while positioning for long-term growth. We remain committed to driving operational efficiencies and delivering high-quality, affordable homes that meet the needs of our customers. Although near-term conditions remain dynamic, we believe our disciplined approach and scalable platform position us well to navigate the current environment and capitalize on opportunities over the long term. We reiterate our 2026 full year guidance of approximately 9,250 expected home closings.
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