PulteGroup Inc

Latest Results (30.08.2026):

PulteGroup, Inc.'s first quarter 2026 results show net income of $347 million, or $1.79 diluted EPS, as the company managed demand and inventory in a tougher affordability environment while investing in land and returning capital to shareholders.

Earnings

Net income was $346.996 million ($1.79 diluted EPS) in Q1 2026, down from $522.799 million ($2.57 diluted EPS) in Q1 2025.

Revenue and Closings

Home sale revenues totaled $3.307 billion (total revenues $3.409 billion), a 12% decline year-over-year driven by 6,102 closings (down 7%) and a 5% decline in average selling price to $542,000.

Margins and Expenses

Home sale gross margin was 24.4% (vs. 27.5% a year ago), reflecting higher incentives to reduce excess spec inventory; SG&A was $380 million (11.5% of home sale revenues) vs. $393 million (10.5%) in Q1 2025.

Orders and Backlog

Net new orders rose 3% to 8,034 homes valued at $4.6 billion; quarter-end backlog was 10,427 homes valued at $6.5 billion.

Shareholder Returns

The company repurchased $308 million of common shares (2.4 million shares, average $127.39); the Board approved a $1.5 billion increase in the repurchase authorization, leaving $2.1 billion available; cash dividend declared $0.26 per share.

Balance Sheet and Liquidity

Cash and equivalents were $1.807 billion (total cash and restricted cash $1.843 billion); notes payable $1.821 billion; debt-to-capital ratio 12.3% and net debt-to-capital approximately -0.2% (net cash position).

Financial Services and Mortgage

Financial services pre-tax income was $13 million (down from $36 million prior year); mortgage capture rate ~85% and origination principal of $1.703 billion in the quarter.

Operational Actions

Management invested about $1.3 billion in land acquisition and development in the quarter, increased average operating communities to ~1,043 (up 9% YoY), and noted active management of sales, incentives and production to navigate near- and long-term market dynamics.