Revenue Decline Driven by Lower Closings
Revenue fell 12.4% YoY from $3.89B to $3.41B in Q1 FY2026, reflecting a softer homebuilding environment with reduced home closings and/or lower average selling prices compared to the prior-year period.
PULTEGROUP INC/MI/ is expected to release its Q2 2026 10-Q filing in the upcoming earnings season. Last quarter: PulteGroup reported a challenging Q1 FY2026 with revenue declining 12.4% YoY to $3.41B and net income falling 33.6% to $347.0M, though the company maintained solid cash generation and a strong balance sheet with $1.81B in cash.
Drawn from management commentary in the Q1 2026 10-Q:
Revenue fell 12.4% YoY from $3.89B to $3.41B in Q1 FY2026, reflecting a softer homebuilding environment with reduced home closings and/or lower average selling prices compared to the prior-year period.
Net income dropped 33.6% YoY to $347.0M while cost of revenue declined only 8.8% versus the 12.4% revenue decline, indicating margin compression as costs did not fall proportionally with revenue. Net margin contracted to approximately 10.2% from an implied ~13.4% in the prior year.
SG&A expenses declined 3.3% YoY to $380.3M, demonstrating some cost control efforts, though the reduction was modest relative to the revenue decline, contributing to operating leverage headwinds.
Revenue
$3.41B
-12.44% YoY
EPS (Basic)
$1.81
-30.12% YoY
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