PulteGroup Q3 earnings slide to $2.53 as home sales revenue drops 9%

• PulteGroup reported third-quarter 2026 earnings of $2.53 per diluted share, down from $2.96 a year earlier, while home sale revenue declined 9% to $3.9 billion.
• PulteGroup shares fell 8.24% following the announcement, as earnings and revenue missed analysts' estimates of $2.65 per share and $4.16 billion, respectively.
• PulteGroup continues to adjust home pricing and construction activity in response to higher mortgage rates, while reporting a $6.4 billion order backlog.

PulteGroup (NYSE:PHM) reported third-quarter 2026 home sale revenue of $3.9 billion, down 9%, as diluted earnings fell to $2.53 per share.

Earnings missed analysts' $2.65 estimate, while revenue fell below the $4.16 billion forecast and net income declined to $475.7 million.

Home closings declined 9% to 6,876 units, while average selling prices fell 1% to $561,000 and gross margin narrowed to 24.8%.

Following the announcement, the PulteGroup share price was down 8.24% in early trading.

Net new orders declined 6% to 6,208 homes worth $3.5 billion, while backlog increased to 10,298 homes valued at $6.4 billion.

PulteGroup previously reported second-quarter earnings of $2.48 per share and repurchased another $350 million in shares during Q3, ending September with $1.4 billion in cash.