Recent Updates — PHM

PulteGroup, Inc. reported third-quarter 2026 net income of $476 million, or $2.53 per diluted share, compared to $586 million, or $2.96 per share, in the prior year period. Home sale revenues decreased 9% to $3.9 billion as closings fell 9% to 6,876 homes and average sales prices declined 1% to $561,000. The company reported a home sale gross margin of 24.8%, inclusive of $26 million in land impairments. Net new orders totaled 6,208 homes valued at $3.5 billion, while the unit backlog increased 4% to 10,298 homes with a value of $6.4 billion. PulteGroup repurchased $350 million of common shares during the quarter and ended with $1.4 billion in cash and a debt-to-capital ratio of 12%. The company operates as one of America's largest homebuilders.

PulteGroup's wholly-owned subsidiary, Pulte Mortgage LLC, entered into a Master Repurchase Agreement with Truist Bank on August 11, 2026. This agreement establishes a financing facility to support the origination of mortgage loans by Pulte Mortgage. The arrangement provides for a maximum aggregate commitment of $625 million, subject to certain sublimits. The agreement expires on the earlier of August 10, 2027, or when buyer commitments are terminated. This transaction creates a direct financial obligation for the registrant. PulteGroup operates in the homebuilding industry, constructing and selling residential properties.

PulteGroup reported second quarter 2026 net income of $472 million, or $2.48 per share, compared to $608 million or $3.03 per share in the prior year. Home sale revenues decreased 11% to $3.8 billion, while net new orders increased 6% to 7,536 homes. The company repurchased 3.1 million shares for $373 million during the quarter and declared a quarterly dividend of $0.26 per share. PulteGroup is a large homebuilding company operating in more than 45 US markets.