PHM: Q2 2026 net income fell 22% on lower closings and margins, but net new orders rose 6%
Q2 2026 saw a 6% revenue decline and a 22% drop in net income year-over-year, driven by lower closings and average selling prices amid affordability challenges. Gross margins compressed to 25.0%, while net new orders rose 6%. Shareholder returns were prioritized through increased buybacks and divid…