Revenue: $8,765,592,000; Gross profit: $1,395,380,000; Gross margin: approx. 23.2%; Operating income: $1,238,398,000; Operating margin: ~14.0%; Net income: $954,311,000; Net margin: ~10.9%; EPS: $3.45; Weighted average shares: 273.703 million; Cash from operations: $241.759 million; Free cash flow: $202.951 million; Cash at period-end: $3.872B; Total liquidity: $5.8B; Total assets: $38.667B; Total liabilities: $11.652B; Total stockholders’ equity: $26.878B; Debt-to-capital: ~7.7%; Inventory: ~$20.509B; Homes started (Q2): ~21,400; Homes sold: ~21,300; Homes delivered: ~19,700; Annual target: ~80,000 closings; Land strategy: owned ~91k and controlled ~340k homesites (431k total); Land purchases in quarter: ~$1.7B (90% finished sites); Cycle time: ~150 days (single-family); Core product plan rollout beginning in Texas; Build-to-rent and Emblem Series development; Q3 guidance: orders 20.5k–21k; deliveries 20.5k–21k; ASP $420k–$425k; Q3 gross margin ~23%; SG&A 7.3%–7.5% of revenue; Tax rate ~24.25%; Shares repurchased: ~3.8 million in H1; Debt repayments: ~$454M; Spin-off update: no-debt spin company with $6–$8B land expected, ongoing SEC process.