PulteGroup FY26 Q2 net income drops 22.4% to $472 million; home sale revenue falls 11% to $3.8 billion
PHM•Backlog and capital return
Backlog ended at 10,966 homes, up 2%, while backlog value slipped 1% to $6.8 billion; share repurchases totaled $373 million.
Margins and operating metrics
Home sale gross margin narrowed to 25.0% from 27.0% a year earlier; SG&A rose to 10.1% of home sale revenues from 9.1%.
Net new orders increased 6% to 7,536 homes, with order value up 5% to $4.1 billion; average community count rose 8% to 1,074.
PulteGroup reports lower Q2 profit and revenue
PulteGroup posted Q2 net income of $472 million, down from $608 million a year earlier; diluted EPS fell to $2.48.
