PulteGroup (PHM) Q2 2026 Earnings
How Did PHM Stock React to Q2 2026 Earnings?
S&P 500 over the same 30 days: +2.45%.
Did PHM Beat Earnings? Q2 2026 Results
Yes. PulteGroup reported Q2 2026 earnings of $2.48 a share on Jul 22, 2026, beating the $2.36 consensus estimate by 5.3%. Revenue was $4.0B against a $4.0B estimate.
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.
- 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
“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.”
PulteGroup CEO, on the earnings call
What Is PulteGroup's 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
| Metric | Q2 2026 | Q2 2025 | Year over year |
|---|---|---|---|
| Revenue | $4.0B | $4.4B | −9.6% |
| Gross Profit | $950.5M | $1.2B | −20.7% |
| Operating Income | $622.4M | $805.4M | −22.7% |
| Net Income | $472.0M | $608.5M | −22.4% |
PHM Revenue by Segment
When Does PulteGroup Report Next?
Figures from SEC filings and company reports. Not investment advice.