PulteGroup reported second quarter 2026 total revenue of $3.98 billion, in line with estimates, and EPS of $2.48, beating analyst expectations of $2.38. These results reflect a year-over-year revenue decline of 10% and a net income decline of 22%, driven by an 8% decrease in home closings and a 3% dip in average sales price.
Key Highlights
- A notable development was the 6% year-over-year increase in net new orders to 7,536 homes, with the corresponding value growing 5% to $4.1 billion.
- The company's homebuilding gross margin came in at 25.0%, surpassing the consensus estimate of 24.2%, although it was down from 27.0% in the prior-year period.
- PulteGroup ended the quarter with a unit backlog of 10,966 homes, a 2% increase from last year, valued at $6.8 billion.