Q1 25 EPS
$2.57
BEAT +6.00%
Est. $2.42
Q1 25 Revenue
$3.89B
BEAT +1.81%
Est. $3.82B
vs S&P Since Q1 25
-16.6%
TRAILING MARKET
PHM +20.1% vs S&P +36.7%
Market Reaction
Did PHM Beat Earnings? Q1 2025 Results
PulteGroup delivered a solid first-quarter beat to kick off 2025, posting diluted EPS of $2.57 against a consensus estimate of $2.43, a 6.00% beat, while revenue of $3.89 billion edged past the $3.82 billion estimate by 1.81%, even as total sales sli… Read more PulteGroup delivered a solid first-quarter beat to kick off 2025, posting diluted EPS of $2.57 against a consensus estimate of $2.43, a 6.00% beat, while revenue of $3.89 billion edged past the $3.82 billion estimate by 1.81%, even as total sales slipped 1.4% year-over-year. The results came despite a challenging demand backdrop, with net new orders falling to 7,765 homes as affordability pressures and broader macroeconomic uncertainty weighed on buyer activity, a theme echoed across the homebuilding sector. The key driver of the earnings beat was margin resilience: home sale gross margin held at 27.5%, flat sequentially from Q4 2024, supported by disciplined project underwriting and a favorable mix of geographies and customer segments. Average selling prices rose 6% to $570,000, partially cushioning a 7% decline in closing volumes to 6,583 homes. Looking ahead, CEO Ryan Marshall struck a cautiously constructive tone, acknowledging that buyers respond to rate relief but remain stretched on affordability, while pointing to structural housing supply shortages as the foundation for long-term demand confidence.
Key Takeaways
- • 6% increase in average selling price to $570,000 per home
- • Favorable geographic and customer mix of homes delivered
- • Disciplined project underwriting supporting gross margins
- • Mortgage capture rate improved to 86.4% from 84.2%
- • 3% increase in average community count to 961
PHM YoY Financials
Q1 2025 vs Q1 2024, source: SEC Filings
PHM Revenue by Segment
With YoY comparisons, source: SEC Filings
“PulteGroup's financial results continue to benefit from our broadly diversified operating platform and strategic approach to running our business as we balance sales price and pace in support of delivering high returns. In the first quarter, this disciplined approach allowed us to again realize strong revenues, margins, earnings and returns, while we used the resulting cash flow to invest in our business and continue returning capital to shareholders.”
— Ryan Marshall, Q1 2025 Earnings Press Release
PHM Earnings Trends
PHM vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
PHM EPS Trend
Earnings per share: estimate vs actual
PHM Revenue Trend
Quarterly revenue: estimate vs actual
PHM Quarterly Results
5 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q1 26 | — | $1.79 | — | $3.41B | +0.79% |
| Q4 25 MISS FY | $2.83 | $2.56 | -9.54% | $4.61B | +5.56% |
| FY Full Year | $11.38 | $11.12 | -2.28% | $17.31B | +1.42% |
| Q3 25 BEAT | $2.90 | $2.96 | +2.14% | $4.40B | +2.26% |
| Q2 25 BEAT | $3.01 | $3.03 | +0.74% | $4.40B | -0.48% |
| Q1 25 BEAT | $2.42 | $2.57 | +6.00% | $3.89B | +1.81% |