PulteGroup reported results for the 2026 quarter with revenue of $3.98B, net income of $472M and diluted EPS of $2.48, all down versus the prior-year quarter as demand softened amid high mortgage rates and the company adjusted production and incentives.
Financial Highlights
| MetricCurrent quarterPrior year quarterYoY change | Revenue¹$3.98B$4.4B(9.6%) | Net income²$472M$608.48M(22.4%) | Diluted EPS³$2.48$3.03(18.2%) |
¹ Reported as “Total revenues”. ² Reported as “Net income”. ³ Reported as “Per share”.
Business Highlights
- Demand & pricing: Sales softened as mortgage rates remained high; the company reduced production, increased incentives and experienced lower average selling prices and margins.
- Sales & orders: Net new orders rose roughly 5–6% (units and dollars) while closings declined about 8%; backlog was down roughly 1% year-over-year as the mix shifted toward build-to-order.
- Inventory & production mix: Spec home inventory was reduced and homes in production fell about 6% as the company shifted toward backlog-driven builds.
- Regional trends: Florida showed strength with order growth; the West and Northeast had steeper revenue and margin declines.
- Liquidity & operations: Management emphasized lot optionality, updated land underwriting, cost alignment with demand and maintaining capital flexibility.
Original SEC Filing:
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