PulteGroup Q2 Earnings: $2.48 EPS, Orders Up 6% Amid Housing Headwinds
PHM is trading near its 52-week low of $108.32 (14% above the low).
Summary
PulteGroup reported Q2 2026 earnings of $2.48 per share, with net new orders rising 6% year-over-year to 7,536 homes despite a challenging housing market. The company also repurchased $373 million in shares during the quarter.
Key Events · Earnings and Guidance · PHM
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Q2 Earnings Beat
Net income of $472 million, or $2.48 per diluted share, on home sale revenues of $3.8 billion. Home sale gross margin improved sequentially to 25.0%.
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Orders Defy Slowdown
Net new orders rose 6% year-over-year to 7,536 homes, with order value up 5% to $4.1 billion, driven by an 8% increase in community count.
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Share Buyback Continues
Repurchased 3.1 million shares for $373 million in Q2 at an average price of $119.42 per share, bringing year-to-date repurchases to $681 million.
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Backlog Remains Strong
Ended the quarter with a backlog of 10,966 homes valued at $6.8 billion, providing revenue visibility into future quarters.
Analysis · PHM · Real Estate & Construction
PulteGroup delivered $2.48 per share in Q2, beating the prior year's $3.03 on a per-share basis despite an 11% drop in home sale revenues. The real story is the 6% jump in net new orders — defying a broader housing slowdown — and a sequential gross margin improvement of 60 basis points to 25.0%. The company also repurchased $373 million in shares, signaling confidence in its balance sheet. With a $6.8 billion backlog and community count up 8%, PulteGroup is positioned to weather affordability pressures better than peers.
At the time of this filing, PHM was trading at $123.38 on NYSE in the Real Estate & Construction sector, with a market capitalization of approximately $23.7B. The 52-week trading range was $108.32 to $144.50. This filing was assessed with positive market sentiment and an importance score of 7 out of 10.