Monitor next quarter for signs of margin stabilization and whether increased incentives can sustain order growth without further eroding profitability.
Price Chart
Executive Summary
PulteGroup reported Q1 2026 earnings with $1.79 EPS and $3.3B in revenue, missing consensus. Despite a 12% revenue decline and lower margins due to higher incentives, net new orders rose 3% and backlog grew 18%. The company also announced a $1.5B increase to its share repurchase program.
Key Financial Metrics
Key Facts
- Q1 2026 EPS was $1.79, missing consensus of $1.81
- Revenue of $3.3B, down 12% YoY
- Net new orders increased 3% to 8,034 homes
- Backlog value grew 18% to $6.5B
- Gross margin of 24.4% down from 27.5% YoY due to higher incentives
- Board approved $1.5B increase in share repurchase authorization
Financial Impact
Revenue down 12% YoY, EPS missed consensus by 1.1%
Risk Factors
- Continued margin pressure from competitive incentives
- Affordability concerns impacting demand
- Interest rate sensitivity
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 7 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0000822416-26-000021 |
| Exhibit: ex992sharerepurchaseincrea.htm | 0000822416-26-000021 |
| Document: phm-20260422.htm | 0000822416-26-000021 |
| Document: 0000822416-26-000021-index-headers.html | 0000822416-26-000021 |
| Document: 0000822416-26-000021-index.html | 0000822416-26-000021 |
| Document: 0000822416-26-000021.txt | 0000822416-26-000021 |
| 8-K Data (Synthetic) | 0000822416-26-000021 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Jul 22, 2026 10w ago | 8-K | $126.75 $130.68 | ▼ −3.10% | ▼ −0.20% | $115.42 (+8.94%) |
Jun 18, 2026 15w ago | Institutional Cluster | $126.96 $129.02 | ▲ +1.62% | ▲ +1.09% | $115.42 (−9.09%) |
Apr 23, 2026 23w ago | 8-K | $130.64 $116.26 | ▲ +11.01% | ▲ +15.64% | $115.42 (+11.65%) |
Mar 13, 2026 28w ago | DEFA14A | $121.91 $122.68 | ▲ +0.63% | ▼ −3.15% | $115.42 (−5.32%) |
Feb 28, 2026 30w ago | Institutional Cluster | $133.44 $113.72 | ▼ −14.78% | ▼ −6.84% | $115.42 (−13.50%) |
US Market Status
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