PulteGroup, Inc. (NYSE: PHM) announced today financial results for its second quarter ended June 30, 2026. For the quarter, the Company reported net income of $472 million, or $2.48 per share. In the prior year period, the Company reported net income of $608 million, or $3.03 per share.

"We continue to capture benefits from our return-focused operating model and business platform that is well diversified across markets and buyer groups," said Ryan Marshall, President and CEO of PulteGroup. "The resulting benefits helped PulteGroup generate earnings of $2.48 per share in the quarter, while realizing a 6% increase in net new orders and generating a sequential increase in gross margin of 60 basis points."

"Overall, market conditions remain highly competitive as macroeconomic uncertainty, volatile interest rates and strained affordability weigh on housing demand, but there are early signs that conditions may be stabilizing in select geographies around the country. Within this operating environment, we continue to execute focused, tactical adjustments as we work to balance price and pace within each community in support of delivering high returns across the enterprise."

Second quarter home sale revenues decreased 11% from the prior year to $3.8 billion. Lower revenues for the period reflect an 8% decrease in closing volumes to 6,997 homes, in combination with a 3% decrease in average sales price to $544,000.

For its second quarter, PulteGroup reported home sale gross margin of 25.0%, a sequential increase of 60 basis points from the first quarter of 2026, which is down from 27.0% last year. Second quarter SG&A expense for the Company was $383 million, or 10.1% of home sale revenues. Prior year SG&A expense was $390 million, or 9.1% of home sale revenues.

Net new orders for the second quarter increased 6% to 7,536 homes, as higher community count helped to drive an increase in orders across all buyer groups. The dollar value of net new orders in the period was $4.1 billion, which is an increase of 5% over the prior year quarter. Community count for the second quarter averaged 1,074, which is an increase of 8% over the second quarter of 2025.

The Company ended the second quarter with a backlog of 10,966 homes, which is an increase of 2% over the second quarter of last year. Backlog value for the second quarter decreased 1% over last year to $6.8 billion.

The Company's financial services operations reported second quarter pre-tax income of $37 million, compared with prior year pre-tax income of $43 million. Mortgage capture rate was 85% for the second quarter in both the current and prior year periods.

The Company ended the quarter with $1.4 billion in cash and a debt-to-capital ratio of 12.3%.

In the second quarter, the Company repurchased 3.1 million of its outstanding common shares for $373 million, or an average price of $119.42 per share. Through the first six months of 2026, the Company has repurchased 5.5 million shares, or 3% of its common shares, for $681 million.

A conference call discussing PulteGroup's second quarter 2026 results is scheduled for Wednesday, July 22, 2026, at 8:30 a.m. Eastern Time. Interested investors can access the live webcast via PulteGroup's corporate website at www.pultegroup.com.