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Pultegroup 8-K Report, Financial Results (Apr 23, 2026)

Reports
Earnings & Results·Other Events·Exhibits & Filings
Filing Date
Filed April 23, 2026
Period End
April 22, 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 April 23, 2026. Cited figures are marked; the original filing is the authoritative source.

PulteGroup, Inc. (NYSE: PHM) reported first quarter 2026 results for the period ended March 31, 2026, with net income of $347 milliona, or $1.79 per diluted share, down from $523 million, or $2.57 per diluted share, in the prior-year quarter.

Home sale revenues totaled $3.3 billionb, a decrease of 12% from the prior year, reflecting a 7% decrease in closings to 6,102 homes and a 5% decrease in average sales price to $542,000. Home sale gross margin was 24.4%, compared with 27.5% a year earlier, which the company attributed to higher incentives used to respond to competitive market dynamics and to reduce excess spec inventory. Net new orders rose 3% to 8,034 homes valued at $4.6 billion, and unit backlog ended the quarter at 10,427 homes valued at $6.5 billion.

The company stated that it invested $1.3 billionc in land acquisition and development and returned $360 million to shareholders during the quarter, including $308 million of share repurchases at an average price of $127.39 per share. Debt-to-capital ratio rose to 12.3% from 11.2% at December 31, 2025, and cash, cash equivalents and restricted cash totaled $1.8 billion at quarter end, while notes payable increased to $1.82 billion from $1.63 billion.

Separately, the Board approved a $1.5 billiond increase to the share repurchase authorization, bringing the remaining authorization to $2.1 billion, effective April 22, 2026. Management highlighted consumer concerns about affordability and the economy, and said it will continue to manage sales, incentives and production to position the company for near- and long-term success.

02—Key points

Key Highlights

  1. Net income of $347 million, or $1.79 per diluted share, versus $523 million, or $2.57 per diluted share, in the first quarter of 2025.
  2. Home sale revenues of $3.3 billion, down 12% year over year, on 6,102 closings (down 7%) at an average sales price of $542,000 (down 5%).
  3. Home sale gross margin of 24.4%, compared with 27.5% in the prior-year period, reflecting higher incentives and efforts to reduce excess spec inventory.
  4. Net new orders increased 3% to 8,034 homes valued at $4.6 billion; unit backlog of 10,427 homes valued at $6.5 billion at quarter end.
  5. Share repurchase authorization increased by $1.5 billion to bring the remaining authorization to $2.1 billion.
  6. Debt-to-capital ratio of 12.3%, up from 11.2% at December 31, 2025, as notes payable rose to $1.82 billion.
  7. Quarterly SG&A expense of $380 million, or 11.5% of home sale revenues, compared with 10.5% in the prior-year period.

03—Questions

Frequently Asked Questions

  1. Why did PulteGroup's profitability decline in the first quarter of 2026?

    Home sale revenues fell 12% on lower closing volume and a 5% lower average sales price, while home sale gross margin compressed to 24.4% from 27.5%. The company attributed the margin decline to higher incentives used to respond to competitive market dynamics and to reduce excess spec inventory.

  2. How strong was demand for PulteGroup homes in the quarter?

    Net new orders increased 3% to 8,034 homes valued at $4.6 billion, and net new orders in Florida and the Southeast grew year over year. Unit backlog ended the quarter at 10,427 homes, valued at $6.5 billion, compared with 11,335 homes and $7.2 billion a year earlier.

  3. How much capital did PulteGroup return to shareholders and what is the new buyback authorization?

    The company repurchased 2.4 million shares for $308 million during the quarter, at an average price of $127.39 per share, and returned $360 million to shareholders in total. The Board approved a $1.5 billion increase to the share repurchase authorization, bringing the remaining authorization to $2.1 billion.

  4. How did PulteGroup's leverage change?

    The debt-to-capital ratio rose to 12.3% at March 31, 2026, from 11.2% at December 31, 2025. Notes payable increased to $1.82 billion from $1.63 billion, and cash, cash equivalents and restricted cash was $1.84 billion at quarter end.

04—Continue

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