The EPS beat provides a short-term cushion, but the persistent YoY revenue and earnings decline signals weakening demand. Watch for commentary on the housing market and any mid-quarter updates. The lack of explicit guidance keeps uncertainty high—monitor conference call for tone on future orders and community count.
Price Chart
Executive Summary
PulteGroup reported Q2 2026 diluted EPS of $2.48, beating the $2.36 consensus by 5.1%, but total revenues fell 9.6% YoY to $3.98B and net income dropped 22% to $472M. Home sale revenue declined 11% YoY on lower closings and average selling prices, though net new orders rose 6% and gross margin improved sequentially by 60 bps to 25.0%. No explicit guidance was provided, leaving the market to weigh the consensus beat against persistent YoY deterioration.
Key Financial Metrics
Key Facts
- Diluted EPS of $2.48 vs consensus $2.36 (beat +5.1%)
- Total revenues of $3.98B vs consensus $3.98B (in-line)
- Home sale revenues of $3.81B, down 11% YoY
- Net income $472M vs $608M in Q2 2025, down 22%
- Home sale gross margin 25.0%, up 60 bps sequentially from Q1 2026 but down from 27.0% a year ago
- Net new orders increased 6% to 7,536 homes; order value up 5% to $4.1B
- Company repurchased $373M of common shares in Q2, $681M in H1 2026
- Debt-to-capital ratio unchanged at 12.3%; cash balance $1.4B
Financial Impact
EPS beat consensus by $0.12 (5.1%), but revenue declined 9.6% YoY and net income fell 22% from prior year
Risk Factors
- Continued macroeconomic uncertainty and volatile interest rates pressuring housing affordability
- Further declines in closing volumes and average selling prices
- Inability to sustain gross margin improvement if incentives increase
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0000822416-26-000034 |
| Document: phm-20260722.htm | 0000822416-26-000034 |
| Document: 0000822416-26-000034-index-headers.html | 0000822416-26-000034 |
| Document: 0000822416-26-000034-index.html | 0000822416-26-000034 |
| Document: 0000822416-26-000034.txt | 0000822416-26-000034 |
| 8-K Data (Synthetic) | 0000822416-26-000034 |
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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