EarningsQ2 2026 Earnings Report
MX:PHM Q2 2026 EPS Results
Actual EPS$42.15
Consensus EPS$40.08
Beat/MissBeat by +$2.07
One Year Ago EPS$51.50
MX:PHM Q2 2026 Revenue Results
Actual Revenue$67.69B
Expected Revenue$67.00B
Beat/MissBeat by +$695.50M
YoY Revenue Growth-9.56%
Earnings Announcement Details
QuarterQ2 2026
Date07/22/2026
TimeBefore Open
Conference CallWednesday, July 22, 2026
MX:PHM Upcoming Earnings
PulteGroup's next earnings date is estimated for October 22, 2026, based on past reporting schedules.
Q2 2026 Earnings Call Audio
MX:PHM Q2 2026 Earnings Call
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Q2 2026 Earnings Slide Deck
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Neutral
The call presented a mix of operational progress and continuing near-term challenges. Highlights include order growth, margin improvement, meaningful reductions in spec inventory, expansion of build-to-order mix, strong land investment activity, and a healthy backlog. Offsets include year-over-year declines in home sale revenues, closings, net income and EPS; SG&A deleveraging; continued elevated incentives; and potential cost headwinds as commodity prices normalize. Management reaffirmed full-year guidance for closings, gross margin and SG&A and emphasized disciplined capital allocation and inventory management.Company Guidance
Net New Orders Growth
Q2 net new orders increased 6% year-over-year to 7,536 homes; year-to-date net new orders up 5% and totaled 15,570 homes. Sold 720 more homes year-to-date versus prior year.
Strong Regional Performance and Buyer Mix
Orders improved across most regions with Florida up 19% year-over-year; Active adult orders rose 12% in Q2, first-time buyer orders up 5%, move-up orders up 4%.
Build-to-Order Momentum
Build-to-order (BTO) mix increased to 45% of Q2 orders (up 500 basis points year-to-date from 39%), with a stated long-term target of ~60% to be reached likely next year.
Inventory Reduction and Spec Discipline
Finished spec inventory reduced to ~1.3 homes per community (down from 1.9 at Q2 2025); total specs in production lowered to ~6,600 from ~8,800 at end of 2024; specs represent 44% of production.
Gross Margin and Cost Improvements
Homebuilding gross margin improved to 25.0% in Q2 (up 60 basis points sequentially from Q1) and 24.7% year-to-date. Q2 house costs were about $75/sq ft, down ~5% year-over-year.
Lower Incentives vs Q1
Incentives on closings decreased by 50 basis points sequentially from Q1 to 10.4% in Q2, contributing to margin improvement.
Balance Sheet and Capital Allocation
Ended Q2 with $1.4 billion cash, debt-to-capital ratio of 12.3%, repurchased 3.1 million shares for $373 million, invested $1.4 billion in land in Q2 (2.7 billion YTD) and remain on track for ~$5.4 billion land spend for 2026; 228,000 lots under control.
Backlog and Production Visibility
Backlog of 10,966 homes valued at $6.8 billion; 14,980 homes in production; Q3 closings expected 7,000–7,400 and full-year closings reaffirmed at 28,500–29,000.
MX:PHM Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed