PulteGroup, Inc. (PHM) Earnings
PulteGroup, Inc. is expected to report next earnings on July 22, 2026 (in NaN days), with a consensus EPS estimate of $2.39. PHM has beaten EPS estimates in 11 of its last 12 reported quarters (average surprise +2.0% over the last four).
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Apr 23, 2026 | $1.80 | $1.79 | -0.6% | $3.4B | +1.0% |
| Jan 29, 2026 | $2.78 | $2.88 | +3.6% | $4.6B | +30.4% |
| Oct 21, 2025 | $2.89 | $2.96 | +2.4% | $4.4B | +2.4% |
| Jul 22, 2025 | $2.95 | $3.03 | +2.7% | $4.4B | +0.6% |
| Apr 22, 2025 | $2.43 | $2.57 | +5.8% | $3.9B | +1.9% |
| Jan 30, 2025 | $3.28 | $3.50 | +6.7% | $4.9B | +6.2% |
| Oct 22, 2024 | $3.11 | $3.35 | +7.7% | $4.5B | +4.8% |
| Jul 23, 2024 | $3.27 | $3.77 | +15.3% | $4.6B | +2.4% |
| Jan 30, 2024 | $3.22 | $3.28 | +1.9% | $4.3B | -4.1% |
| Jul 25, 2023 | $2.51 | $3.00 | +19.5% | $4.2B | +4.9% |
| Jan 31, 2023 | $2.93 | $3.63 | +23.9% | $5.2B | +12.8% |
| Jul 26, 2022 | $2.63 | $2.73 | +3.8% | $3.9B | -3.2% |
Source: company filings + earnings calendar. For informational purposes only — not investment advice.
Earnings call summary
Q1 FY2026 · April 23, 2026
AI summary of management’s prepared remarks and analyst Q&A. For informational purposes only — not investment advice.
Management highlights
Ryan highlighted strong results despite complex market conditions, with $3.3 billion in home sale revenues, 24.4% gross margins, and $1.79 per share in earnings. The company invested $1.3 billion in land acquisition and development and returned $360 million to shareholders. Operationally, community count grew, and build-to-order homes increased to 43% of net new orders. Jim discussed net new orders, gross margin, backlog, community count growth expectations, and financial services performance.
Guidance
Expects 6,700 to 7,100 closings in Q2 2026, full-year closings 28,500 to 29,000. Community count growth 3% to 5% in remaining quarters of 2026. Q2 ASP range $540,000 to $550,000, full-year ASP $550,000 to $560,000. Gross margin expected to be 24.1% to 24.4% in Q2, recovering in back half to 24.5% to 25.0% for full year.
Segment performance
Financially, Pulte Group had $3.3 billion in home sale revenues, 24.4% gross margins, and $1.79 per share in earnings. Net new orders increased 3% to 8,034 homes with a value of $4.6 billion. Land acquisition and development investment was $1.3 billion, and $360 million was returned to shareholders through share repurchases and dividends. Florida operations saw 18% order growth. Build-to-order homes accounted for 43% of net new orders in Q1.
Risks & headwinds
Most significant risk factors affecting future results are summarized in the earnings release and accompanying presentation, detailed in RCC filings including annual and quarterly reports.
Analyst Q&A
Q: Can you help with gross margin walk?
A: Higher incentives, mix shift, cleared spec inventory.
Q: Impact of Middle East conflict on spring selling season?
A: Demand held up, could improve with resolved conflict.
Q: Incentive trends across price points and BTO vs SPEC?
A: More incentive on SPEC, especially first-time spec.
Q: Land banking details?
A: About 8% of controlled lots with land bankers, structured with deposits and rates.
Q: Free cash flow guide?
A: $1 billion due to rebuilding BTO inventory.
Q: ASP and incentives?
A: ASP down mid-single digits, incentives steady but mix shift helps.
Q: Midwest performance?
A: Variable due to weather, but still strong.