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SEC filingRevenue was $3.4B (-12.4%) Gross Profit was $881.3M (-21.5%) Net Income was $347.0M (-33.6%) Eps was $1.79 (-30.4%)
PulteGroup's first quarter 2026 results showed revenue of $3.4 billion, down 12.4% from $3.9 billion in the prior year, primarily because closings decreased due to a lower order backlog entering the year. This was partially offset by a higher community count and improved production cycle times, which shorten construction durations and enhance turnover efficiency. Gross profit declined 21.5% to $881 million, with margins contracting to 25.9% from higher land costs, pricing actions taken to address buyer affordability challenges, and elevated sales incentives. These measures responded to market dynamics while the company reduced its mix of spec inventory, shifting toward build-to-order production to better align with demand signals.
Overall, PulteGroup navigated affordability pressures by adjusting pricing and incentives to sustain order growth, optimizing inventory toward build-to-order, and prioritizing cash efficiency, positioning the balance sheet for ongoing market adaptation.