PulteGroup, Inc.
PHM Consumer Cyclical Residential Construction
PulteGroup, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $17.3 billion, down 3.54% from fiscal 2024. In the quarter to June 2026, revenue fell 9.56%, EPS fell 18.4%, free cash flow fell 105.1% and total debt rose 8.33%, each against the same quarter a year earlier. Member of the S&P 500; dividend growth for ten consecutive years.
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PulteGroup, Inc. 10-Q filed Jul 22, 2026
What changed
Part I, Item 2, Management’s Discussion and Analysis, against the 10-Q filed Apr 23, 2026: 8 added · 3 removed · 28 modified; 17 with only figures updated
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Modified
Demand conditions
to start 2026 remained challengingremained challenging through the second quarter of 2026 as the result of elevated mortgage interest rates, higher housing costs, and general economic uncertainty.As volatilityVolatility in geopolitical conditionsincreased, in part due to tensions inMarchthe Middle East,ithas also negatively impacted inflation and interest rates, further weakening consumer confidence. We have continued responding to these conditions by adjusting production cadence and sales prices where necessary and focusing sales incentives on discounts on spec inventory (houses without customer orders), closing cost incentives, and mortgage interest rate buydowns. These pricing actions contributed to a36% increase in net new orders in units, but lower average selling prices and gross margins, during thefirstsecond quarter of 2026 compared to2025the prior year period. Closings decreased78% in thefirstsecond quarter of 2026 compared to2025the prior year period primarily due to a lower order backlog entering 2026 compared to 2025.
38 more changes in this Item, word by word, in Powerpack.
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