Q2 26 EPS
$2.48
BEAT +5.27%
Est. $2.36
Q2 26 Revenue
$3.98B
BEAT +0.12%
Est. $3.98B
Market Reaction
Did PHM Beat Earnings? Q2 2026 Results
PulteGroup edged past Wall Street expectations in Q2 2026, posting diluted EPS of $2.48 against a consensus estimate of $2.36, a beat of 5.27%, even as the homebuilder navigated a notably softer year-over-year backdrop. Revenue came in at $3.98 billi… Read more PulteGroup edged past Wall Street expectations in Q2 2026, posting diluted EPS of $2.48 against a consensus estimate of $2.36, a beat of 5.27%, even as the homebuilder navigated a notably softer year-over-year backdrop. Revenue came in at $3.98 billion, essentially in line with estimates but down 9.6% from a year ago, with the decline driven primarily by an 8% drop in home closing volumes to 6,997 units and a 3% slide in average selling price to $544,000. Home sale gross margin compressed 200 basis points year-over-year to 25.0%, though it ticked up 60 basis points sequentially, offering a modest bright spot amid what CEO Ryan Marshall characterized as a "highly competitive" market weighed down by volatile interest rates and strained affordability. On the demand side, net new orders rose 6% to 7,536 homes, supported by an 8% expansion in average community count, a signal that management pointed to as evidence of early stabilization in select geographies, even as the company continues balancing price and pace to protect returns going forward.
Key Takeaways
- • 8% increase in average community count to 1,074 communities drove 6% increase in net new orders
- • Sequential gross margin improvement of 60 basis points from Q1 2026
- • Diversification across markets and buyer groups
- • Tactical adjustments to balance price and pace within each community
PHM Forward Guidance & Outlook
Management noted that market conditions remain highly competitive with macroeconomic uncertainty, volatile interest rates, and strained affordability weighing on housing demand. However, there are early signs that conditions may be stabilizing in select geographies. The company plans to continue executing focused, tactical adjustments to balance price and pace within each community to deliver high returns.
PHM YoY Financials
Q2 2026 vs Q2 2025, source: SEC Filings
PHM Revenue by Segment
With YoY comparisons, source: SEC Filings
“We continue to capture benefits from our return-focused operating model and business platform that is well diversified across markets and buyer groups. The resulting benefits helped PulteGroup generate earnings of $2.48 per share in the quarter, while realizing a 6% increase in net new orders and generating a sequential increase in gross margin of 60 basis points.”
— Ryan Marshall, Q2 2026 Earnings Press Release
PHM Earnings Trends
PHM vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
PHM EPS Trend
Earnings per share: estimate vs actual
PHM Revenue Trend
Quarterly revenue: estimate vs actual
PHM Quarterly Results
6 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q2 26 BEAT | $2.36 | $2.48 | +5.27% | $3.98B | +0.12% |
| Q1 26 MISS | $1.81 | $1.79 | -1.15% | $3.41B | +0.79% |
| Q4 25 MISS FY | $2.83 | $2.56 | -9.50% | $4.61B | +5.56% |
| FY Full Year | $11.38 | $11.12 | -2.28% | $17.31B | +1.42% |
| Q3 25 BEAT | $2.90 | $2.96 | +2.14% | $4.40B | +2.26% |
| Q2 25 BEAT | $3.01 | $3.03 | +0.74% | $4.40B | -0.48% |
| Q1 25 BEAT | $2.42 | $2.57 | +6.00% | $3.89B | +1.81% |