PulteGroup reports Q3 earnings and revenue misses amid weaker housing demand
PulteGroup reported third-quarter 2026 EPS of $2.53 and home-sale revenue of $3.9 billion, down 9% year over year. Closings fell 9% to 6,876 homes, net new orders declined to 6,208 homes, and home-sale gross margin was 24.8%, including roughly $26 million of land impairments. The company said higher mortgage rates, inflation and weaker consumer traffic pressured demand, while it repurchased $350 million of common shares.
Why it matters
The weaker orders, closings and revenue point to softer near-term demand for PulteGroup, while the company expects fourth-quarter gross margin of 24.0%-24.5% and plans to close 7,000-7,500 homes. The earnings miss and demand concerns were followed by a decline in PHM shares, according to the materials.
Key facts
- 1PulteGroup reported third-quarter EPS of $2.53, home-sale revenue of $3.9 billion and home-sale gross margin of 24.8%. stocktitan.net
- 2Third-quarter closings totaled 6,876 homes and net new orders totaled 6,208 homes. stocktitan.net
- 3PulteGroup's backlog increased 4% to 10,298 homes, with a backlog value of $6.4 billion. stocktitan.net
- 4The company repurchased $350 million of common shares during the quarter. stocktitan.net
- 5PulteGroup expects fourth-quarter gross margin of 24.0%-24.5% and fourth-quarter closings of 7,000-7,500 homes. finance.yahoo.com
- 6PulteGroup's full-year 2026 closing outlook is 27,000-27,500 homes. finance.yahoo.com
Open questions
- Reported revenue figures differ across materials, including $3.9B, $3.97B and $3.98B.
- Material 13 describes the full-year forecast as maintained, while material 14 describes the 27,000-27,500-home outlook as reduced; the prior forecast level is not provided.
Summary written by AlphAI AI Desk from 14 of 14 sources. Not investment advice. Figures are as stated by the linked sources.