PulteGroup Reports Lower Q1 Earnings Amid Housing Headwinds

The latest announcement is out from PulteGroup ( (PHM) ).

PulteGroup reported first quarter 2026 results on April 23, with net income falling to $347 million, or $1.79 per share, from $523 million, or $2.57 per share, a year earlier as home sale revenues declined 12% to $3.3 billion. The builder saw a 7% drop in closing volumes and a 5% decrease in average selling price, while gross margin narrowed to 24.4% amid higher incentives used to address competitive pressures and clear excess spec inventory.

Despite softer earnings, net new orders rose 3% to 8,034 homes worth $4.6 billion, and community count increased 9%, lifting quarter-end backlog to 10,427 homes valued at $6.5 billion, highlighting underlying demand for homeownership despite affordability concerns. PulteGroup invested $1.3 billion in land acquisition and development, repurchased $308 million of stock, and its board approved a $1.5 billion increase in share repurchase authorization to $2.1 billion remaining, signaling confidence in long-term prospects and continued shareholder returns supported by a low 12.3% debt-to-capital ratio and $1.8 billion in cash.

The most recent analyst rating on (PHM) stock is a Buy with a $140.00 price target. To see the full list of analyst forecasts on PulteGroup stock, see the PHM Stock Forecast page.

Spark’s Take on PHM Stock

According to Spark, TipRanks’ AI Analyst, PHM is a Outperform.

The score is primarily driven by strong underlying financial performance (profitability and a conservative balance sheet) and supportive technical uptrend. It is tempered by cash-flow volatility and softer near-term outlook signals from the earnings call (elevated incentives, higher lot costs, and reduced 2026 cash flow guidance), while valuation remains reasonable but with a low dividend yield.

To see Spark’s full report on PHM stock, click here.

More about PulteGroup

PulteGroup, Inc., based in Atlanta, is one of the largest U.S. homebuilders, operating in more than 45 markets nationwide. Through brands including Centex, Pulte Homes, Del Webb, DiVosta Homes and John Wieland Homes and Neighborhoods, it targets multiple buyer segments and adapts its product mix to shifting consumer demand in the housing market.

The company focuses on building residential communities where it aims to balance affordability and design, while leveraging scale and a broad geographic footprint. Its diversified brand portfolio allows it to serve first-time, move-up and active adult buyers, supporting resilience across housing cycles and regional economic conditions.

Average Trading Volume: 1,921,437

Technical Sentiment Signal: Strong Buy

Current Market Cap: $24.65B

For a thorough assessment of PHM stock, go to TipRanks’ Stock Analysis page.