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Pultegroup 8-K Report, Financial Results (Jan 29, 2026)

Reports
Earnings & Results·Exhibits & Filings
Filing Date
Filed January 29, 2026
Period End
January 29, 2026
Security
PHM
In the record · 2016–202610-K1110-Q338-K109

PHM filed 11 annual reports (10-K), 33 quarterly reports (10-Q) and 109 current reports (8-K) between 2016 and 2026.

  1. Material agreement8-K · Aug ’17Aug ’17
  2. Material agreement8-K · Aug ’20Aug ’20
  3. Leadership change8-K · Dec ’22Dec ’22
  4. Leadership change8-K · Mar ’25Mar ’25

01—Abstract

Summary

Summary of the 8-K filed January 29, 2026. Cited figures are marked; the original filing is the authoritative source.

PulteGroup, Inc. (NYSE: PHM) reported fourth quarter 2025 results on January 29, 2026, with net income of $502 milliona, or $2.56 per diluted share, compared with $913 million, or $4.43 per share, in the prior-year quarter, which included a $255 million pre-tax insurance benefit.

Fourth quarter home sale revenues were $4.5 billionb, down 5% year over year, on 7,821 closings at an average selling price of $573,000. Net new orders rose 4% to 6,428 homes, but their value was $3.5 billion, comparable with the prior year. Home sale gross margin was 24.7%, versus 27.5% a year earlier, and included $35 million of land impairment charges.

Management said lower interest rates and more favorable pricing have improved affordability, while lagging consumer confidence continued to weigh on demand. For the full year 2025, the company delivered 29,572 homes, generated $16.7 billionc in home sale revenues, and earned net income of $2.2 billion, or $11.12 per diluted share. It invested $5.2 billion in land acquisition and development and repurchased 10.6 million shares for $1.2 billion.

Year-end cash was $2.0 billiond, and the debt-to-capital ratio was 11.2%, down from 11.8%. Backlog ended the year at 8,495 homes valued at $5.3 billion, compared with 10,153 homes and $6.5 billion a year earlier. Management targets community count growth of 3% to 5% annually.

The quarter also included an $81 million pre-tax charge tied to the intended divestiture of certain manufacturing assets, and a $34 million pre-tax insurance benefit. Financial services pre-tax income fell to $35 million from $51 million, with mortgage capture rate declining to 84% from 86%.

02—Key points

Key Highlights

  1. Q4 2025 diluted EPS of $2.56 versus $4.43 in Q4 2024, which included a $255 million pre-tax insurance benefit.
  2. Q4 home sale revenues of $4.5 billion, down 5%, on 7,821 closings (down 3%) and average selling price of $573,000 (down 1%).
  3. Home sale gross margin of 24.7% versus 27.5% a year earlier, including $35 million of land impairment charges.
  4. Net new orders rose 4% to 6,428 homes, while order value of $3.5 billion was comparable with the prior year.
  5. Full-year 2025: 29,572 homes delivered, $16.7 billion in home sale revenues, net income of $2.2 billion, and $5.2 billion invested in land.
  6. Balance sheet: $2.0 billion cash at year-end and debt-to-capital ratio of 11.2%, versus 11.8% a year earlier; 10.6 million shares repurchased for $1.2 billion in 2025.
  7. $81 million pre-tax charge related to the intended divestiture of certain manufacturing assets recorded in Other Expense.

03—Questions

Frequently Asked Questions

  1. Why did net income fall so sharply in the fourth quarter?

    The prior-year quarter included a $255 million pre-tax insurance benefit, while the 2025 quarter included a $34 million insurance benefit. Results also reflected lower home sale revenues, a lower gross margin of 24.7% versus 27.5%, and an $81 million pre-tax charge tied to the intended divestiture of certain manufacturing assets.

  2. Is demand for PulteGroup's homes improving?

    Net new orders rose 4% in units to 6,428 homes, but their dollar value was comparable with the prior year at $3.5 billion. Management said lower interest rates and better pricing have improved affordability, but lagging consumer confidence continued to weigh on homebuyer demand in the quarter.

  3. How much backlog does PulteGroup have going into 2026?

    At December 31, 2025, backlog totaled 8,495 homes valued at $5.3 billion, down from 10,153 homes and $6.5 billion at the end of 2024.

  4. How is PulteGroup managing its capital?

    The company invested $5.2 billion in land acquisition and development in 2025, repurchased 10.6 million shares for $1.2 billion (5.2% of shares outstanding), and ended the year with $2.0 billion in cash and a debt-to-capital ratio of 11.2%. Management aims to support community count growth of 3% to 5% annually.

  5. What is the status of the manufacturing asset divestiture?

    The filing describes an $81 million pre-tax charge associated with the intended divestiture of certain manufacturing assets. It does not provide further details on the transaction's timing or terms in this document.

04—Continue

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