FN2 Earnings Intelligence
PulteGroup (PHM) earnings history
PulteGroup, Inc. (PHM) quarterly earnings scorecards, market reactions, transcript intelligence, and historical context.
Earnings History
PulteGroup, Inc.
PulteGroup's Q2 2026 results showed tangible progress on the operational priorities management outlined in Q1. Gross margins recovered from 24.4% to 25% as incentives declined from 10.9% to 10.4% of sales price. Net new orders grew 6% year-over-year, led by a 12% jump in active-adult orders. The company aggressively reduced spec inventory to 1.3 homes per community (a 13% YoY decline in total spec units) while build-to-order homes reached 45% of new orders, advancing toward the 60% target. Management reaffirmed full-year guidance for closings, ASP, and gross margin. The stock responded with a 2.1% abnormal move on 1.64x baseline volume, followed by continued upward drift of 1.7% in subsequent sessions. Analyst consensus target of $143.29 implies roughly 12% upside from the current price of $128.49.
PulteGroup, Inc.
The quarter supports a mixed view: demand from move-up and active-adult buyers, Florida momentum, and progress toward a higher build-to-order mix support the operating trajectory. However, the decline in gross margin and elevated incentives show that affordability and pricing pressure remain material constraints.
PulteGroup, Inc.
The supplied analysis supports a balanced view: resilient active-adult demand, Del Webb strength and geographic diversification provide evidence for continued earnings support, while land-cost inflation, incentives and the shift toward built-to-order homes temper the case for a straightforward growth trajectory.
PulteGroup, Inc.
The supplied analysis supports a cautiously constructive operating thesis for PulteGroup: active-adult demand, Del Webb expansion, and a strong balance sheet support the business, but elevated spec inventory, incentives, regional gaps, and potential tariff costs limit confidence in durable earnings growth.
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