01—Abstract
Summary
Summary of the 8-K filed July 22, 2026. Cited figures are marked; the original filing is the authoritative source.
PulteGroup, Inc. (NYSE: PHM) reported second quarter 2026 results for the period ended June 30, 2026, in an 8-K furnishing its earnings press release (Exhibit 99.1).
Net income was $472 milliona, or $2.48 per diluted share, compared with $608 million, or $3.03 per diluted share, in the prior-year quarter. Home sale revenues were $3.8 billion, down 11% from the prior year, on closings of 6,997 homes (down 8%) and an average selling price of $544,000 (down 3%). Home sale gross margin was 25.0%, versus 27.0% a year earlier, though up 60 basis points sequentially from the first quarter of 2026.
Demand indicators were mixed but improved. Net new orders rose 6% to 7,536 homes, with order value up 5% to $4.1 billionb, supported by a 8% increase in average community count to 1,074. Unit backlog increased 2% to 10,966 homes, while backlog value declined 1% to $6.8 billion.
Management described market conditions as highly competitive, citing macroeconomic uncertainty, volatile interest rates and strained affordability, while noting early signs of stabilization in some geographies. Capital position reflects both shareholder returns and higher borrowing. The company repurchased 3.1 million shares for $373 millionc in the quarter and $681 million year to date, and ended the quarter with $1.4 billion in cash.
Notes payable rose to $1.82 billiond from $1.63 billion at year-end 2025, and the debt-to-capital ratio increased to 12.3% from 11.2%. Financial services pre-tax income was $37 million, versus $43 million a year earlier.
02—Key points
Key Highlights
- Net income of $472 million, or $2.48 per diluted share, versus $608 million, or $3.03 per diluted share, in Q2 2025
- Home sale revenues of $3.81 billion, down 11% year over year, driven by an 8% decline in closings to 6,997 homes and a 3% lower average sales price of $544,000
- Home sale gross margin of 25.0%, down from 27.0% a year earlier but up 60 basis points sequentially
- Net new orders up 6% to 7,536 homes; order value up 5% to $4.1 billion; average community count up 8% to 1,074
- Unit backlog up 2% to 10,966 homes, while backlog value fell 1% to $6.8 billion
- Repurchased $373 million of common shares in Q2 and $681 million year to date; cash of $1.4 billion at quarter end
- Debt-to-capital ratio rose to 12.3% from 11.2% at December 31, 2025, as notes payable increased to $1.82 billion
03—Questions
Frequently Asked Questions
How did PulteGroup's second quarter 2026 earnings compare with the prior year?
Net income was $472 million, or $2.48 per diluted share, compared with $608 million, or $3.03 per diluted share, in the second quarter of 2025. Lower home sale revenues and a lower home sale gross margin of 25.0% (versus 27.0% a year earlier) drove the decline.
Is demand for PulteGroup's homes improving?
Based on the filing, net new orders rose 6% to 7,536 homes and order value rose 5% to $4.1 billion, with increases across all buyer groups. Management attributed the gain partly to a higher community count. Management described the market as highly competitive and cited early signs of stabilization in select geographies.
What did the company do with its capital during the quarter?
PulteGroup repurchased 3.1 million common shares for $373 million in the quarter, or $681 million through the first six months of 2026. Cash, cash equivalents and restricted cash totaled $1.38 billion at June 30, 2026, down from $2.01 billion at year-end 2025.
How has PulteGroup's leverage changed?
The debt-to-capital ratio increased to 12.3% at June 30, 2026, from 11.2% at December 31, 2025. Notes payable rose to $1.82 billion from $1.63 billion, and the company reported a net debt position of $442.9 million at quarter end, compared with a net cash position at year-end 2025.
What does the filing say about the earnings release itself?
The company furnished its second quarter 2026 earnings press release, dated July 22, 2026, as Exhibit 99.1. Under Item 2.02, the information is furnished rather than filed for purposes of Section 18 of the Securities Exchange Act of 1934.
04—Continue