D. R. Horton

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D.R. Horton, Inc.
Production output
82,917 new home deliveries (2023)
RevenueIncrease US$35.5 billion (2023)
Increase US$4.75 billion (2023)
Total assetsIncrease US$32.6 billion (2023)
Total equityIncrease US$22.7 billion (2023)
Number of employees
13,450 (2023)
Websitedrhorton.com
Footnotes / references
Financials as of September 30, 2023.[1]

D.R. Horton, Inc. is an American home construction company incorporated in Delaware and headquartered in Arlington, Texas. Since 2002, the company has been the largest homebuilder by volume in the United States.[2][3][4] The company ranked number 194 on the 2019 Fortune 500 list of the largest United States corporations by revenue.[5] The company operates in 90 markets in 29 states.[1]

D.R. Horton operates four brands: D.R. Horton, Emerald Homes, Express Homes, and Freedom Homes. Express Homes is tailored to entry-level buyers while the Emerald Homes brand is sold as

luxury real estate. Freedom Homes caters to the active adult community.[1]

History

The company was founded in 1978 by Donald R. Horton.[6] Horton took the company public in 1992, and as of 2020 owned about 6% of the company.[7] In 1997, the company acquired Continental Homes for $305 million and the assumption of $278 million in debt.[8] The company also entered the Tucson, Arizona market.[9] In 1998, the company promoted Donald J. Tomnitz to vice chairman and chief executive and promoted Richard Beckwitt to president.[10] The company also acquired Cambridge Homes.[11]

The company completed more acquisitions throughout the years. In 1999, the company acquired Century Title Agency.[12] In 2001, the company acquired Emerald Builders[13] and Fortress Homes and Communities of Florida.[14][15] In 2002, the company acquired Schuler Homes.[16][17] The company also acquired 300 acres in Arlington, Texas.[18]

In 2013, the company re-entered the

Nashville market.[19]

In April 2015, the company acquired Pacific Ridge Homes, based in Seattle, for $72 million.[20] The acquisition included 350 lots, 90 homes in inventory and 40 homes in sales order backlog. Horton also acquired control of about 400 lots through option contracts.[21]

In May 2015, the company received approval from the Honolulu City Council to begin construction on an 11,750-home planned community in West Oahu, Hawaii.[22]

In 2016, the company acquired Wilson Parker Homes for $90 million.[23] In 2017, the company moved its headquarters from Fort Worth, Texas to Arlington, Texas.[24] In 2018, the company acquired Terramor Homes, Classic Builders, and Westport Homes.[25]

Controversies

The

National Labor Relations Act (NLRA) by requiring its employees to sign an arbitration agreement that prohibited them from pursuing claims in a collective or class action.[26] In 2018 the Supreme Court ruled in favor of D.H. Horton, stating that the company's actions did not violate the NLRA or the Federal Arbitration Act.[27]

Awards and recognition

References

  1. ^ a b c "D. R. Horton, Inc. FY 2023 Form 10-K Annual Report". U.S. Securities and Exchange Commission. November 17, 2023.
  2. ^ a b "The Top 100: 2017". builderonline.com.
  3. ^ a b "The Top 100 - 2022". builderonline.com.
  4. ^ a b "The Top 100 - 2023". builderonline.com. 2023.
  5. ^ "Fortune 500: D. R. Horton". Fortune. Archived from the original on 2019-06-30. Retrieved 2018-03-07.
  6. ^ "Donald R Horton, The 400 Richest Americans - Forbes.com". www.forbes.com. Retrieved 2018-09-17.
  7. ^ "Donald Horton". www.forbes.com. Retrieved 2020-10-29.
  8. ^ "D. R. HORTON SET TO BUY CONTINENTAL HOMES". The New York Times. Bloomberg News. December 20, 1997.
  9. ^ "D.R. Horton enters Tucson market". American City Business Journals. June 24, 1997.
  10. ^ "D.R. HORTON, HOME BUILDERS, APPOINTS KEY OFFICERS". The New York Times. Bloomberg News. December 20, 1997.
  11. ^ "D.R. Horton announces acquisition". American City Business Journals. December 21, 1998.
  12. ^ "D.R. Horton Inc. acquires leading title agency in Phoenix". American City Business Journals. July 7, 1999.
  13. ^ "D.R. Horton completes Emerald Builders buy". American City Business Journals. July 18, 2001.
  14. ^ Daniels, Earl (May 19, 2001). "Fortress Homes bought, to be named Continental by year's end". The Florida Times-Union.
  15. ^ "D.R. Horton acquires Florida homebuilder". American City Business Journals. May 2, 2001.
  16. ^ "HORTON ACQUIRES ANOTHER HOME BUILDER". The New York Times. Bloomberg News. October 24, 2001.
  17. ^ "D.R Horton closes Schuler Homes buy". American City Business Journals. February 22, 2002.
  18. ^ Perez, Christine (April 21, 2002). "D.R. Horton buys 300 acres at Craig Ranch". American City Business Journals.
  19. ^ Snyder, Eric (March 1, 2013). "D.R. Horton, nation's largest homebuilder, enters Nashville market". American City Business Journals.
  20. ^ Maurus, Christine (April 27, 2015). "D.R. Horton to buy Pacific Ridge Homes in Seattle-area expansion". The Seattle Times.
  21. ^ Carlisle, Candace (April 27, 2015). "Homebuilding giant D.R. Horton gets bigger with $72M acquisition". American City Business Journals.
  22. ^ Shimogawa, Duane (May 7, 2015). "D.R. Horton gets OK for 11,750-home Hoopili project in West Oahu". American City Business Journals.
  23. ^ Allison, David (September 6, 2016). "D.R. Horton acquires homebuilding operations of Wilson Parker Homes". American City Business Journals.
  24. ^ "Fort Worth Star-Telegram". June 19, 2017. and acquired a majority ownership in land developer Forestar Group, Inc.
  25. ^ O'Donnell, Paul (December 11, 2018). "Arlington-based homebuilder D.R. Horton buys North Carolina firm for $60 million". April 19, 2020.
  26. ^ "D.R. Horton v. NATIONAL LABOR RELATIONS BOARD" (PDF). United States Court of Appeals for the Fifth Circuit. December 3, 2013.
  27. ^ Peter N. Kirsanow and Adam Primm (May 21, 2018). [1]. BeneschLaw.com, accessed 23 Nov 2023

External links

  • Official website
  • Business data for D.R. Horton, Inc.:
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