Companies /Consumer Cyclical
PulteGroup Inc
NYSE: PHM Residential Construction
$126.88
▼ $4.41 (−3.36%) today
Markets closed · 1:59am ET

PulteGroup (PHM) Q3 2026 Earnings

Reported Oct 22, 2026, 7:28am ET · SEC source
$2.53
Miss −3.42%
EPS · est. $2.62 GAAP

Includes $26 million (approximately 70 basis points) of land impairments recorded in the period

$4.0B
Miss −4.25%
Revenue · est. $4.2B
1 quarter
Consecutive EPS misses

How Did PHM Stock React to Q3 2026 Earnings?

% change · around the report
−4%0+4%+8%Oct 22Oct 23report 7:28am ETearnings−0.7%+8.3%
−4%0+4%+8%Oct 22Oct 23earnings−0.7%+8.3%
PHM +8.3%S&P 500 −0.7%
−4%0+4%+8%Oct 22Oct 23report 7:28am ETearnings−1.1%+8.3%
−4%0+4%+8%Oct 22Oct 23earnings−1.1%+8.3%
PHM +8.3%NASDAQ −1.1%
0+6%+12%Oct 21Oct 30report 7:28am ETearnings−0.5%+13.1%
0+6%+12%Oct 21Oct 30earnings−0.5%+13.1%
PHM +13.1%S&P 500 −0.5%
0+6%+12%Oct 21Oct 30report 7:28am ETearnings−2.2%+13.1%
0+6%+12%Oct 21Oct 30earnings−2.2%+13.1%
PHM +13.1%NASDAQ −2.2%
+5.84%
Day of report
+1.43%
Next session
+4.08%
One week

Did PHM Beat Earnings? Q3 2026 Results

No. PulteGroup reported Q3 2026 earnings of $2.53 a share on Oct 22, 2026, missing the $2.62 consensus estimate by 3.4%. Revenue was $4.0B against a $4.2B estimate.

PulteGroup delivered a disappointing third quarter, missing on both the top and bottom lines as affordability headwinds and softening demand weighed heavily on results. The homebuilder posted GAAP diluted EPS of $2.53, falling 3.42% short of the $2.62 consensus estimate and declining from $2.96 in the year-ago period; that figure includes $26 million in land impairments, which compressed home sale gross margin by roughly 70 basis points to 24.8%. Revenue of $3.97 billion missed the $4.15 billion consensus by 4.25% and fell 9.8% year over year, driven by a 9% drop in closings to 6,876 homes and a 1% decline in average selling price to $561,000. Net new orders also retreated 6% to 6,208 homes, suggesting that rising mortgage rates continued to push buyers to the sidelines even as the company expanded its community count 7% to 1,077, a dynamic analysts had flagged ahead of the print. The company's disciplined capital returns, including $350 million in share repurchases during the quarter, offered little offset to the broad demand softness reflected in the results.

Key Takeaways
  • Diversified buyer mix with over 60% move-up and active-adult homebuyers supporting gross margins
  • Home sale gross margin of 24.8%, down from 26.2% year over year, including 70 basis points of land impairments
  • 9% decline in closings to 6,876 homes and 1% decline in average selling price to $561,000
  • 7% increase in average community count to 1,077
  • Net new orders declined 6% to 6,208 homes
  • Mortgage capture rate of 84.6%, up from 84.4% in prior year

“With homebuying demand increasingly pressured by rising mortgage rates, widespread inflation, and global unrest, we continue to benefit from our diversified operating platform and consistent strategies for delivering superior returns over the housing cycle. With more than 60% of our business now comprised of more profitable move-up and active-adult homebuyers, our strong gross margins were instrumental to driving third quarter earnings of $2.53 per share.”

PulteGroup CEO, on the earnings call

PHM YoY Financials

Q3 2026 vs Q3 2025 · SEC filings Q3 2025 Q3 2026
$0$2.0B$4.0B$4.4B$4.0BRevenue$1.2B$1.1BGross Profit$822.9M$625.2MOperating Income$585.8M$475.7MNet Income
$0$2.0B$4.0BRevenueGross ProfitOperating IncomeNet Income
PHM income statement, Q3 2026 versus Q3 2025
Metric Q3 2026 Q3 2025 Year over year
Revenue $4.0B $4.4B −9.8%
Gross Profit $1.1B $1.2B −12.8%
Operating Income $625.2M $822.9M −24.0%
Net Income $475.7M $585.8M −18.8%

PHM Revenue by Segment

Homebuilding$3.9B−10.1%
Financial Services$107.0M+3.7%

When Does PulteGroup Report Next?

Expected report date
Before the open
Release timing

Figures from SEC filings and company reports. Not investment advice.