Q2 25 EPS
$3.03
BEAT +0.74%
Est. $3.01
Q2 25 Revenue
$4.40B
MISS 0.48%
Est. $4.42B
vs S&P Since Q2 25
-12.5%
TRAILING MARKET
PHM +2.1% vs S&P +14.6%
Market Reaction
Did PHM Beat Earnings? Q2 2025 Results
PulteGroup delivered a narrow but meaningful earnings beat in the second quarter of 2025, posting diluted EPS of $3.03 against a consensus estimate of $3.01, a 0.74% positive surprise, even as revenue of $4.40 billion came in just shy of the $4.42 bi… Read more PulteGroup delivered a narrow but meaningful earnings beat in the second quarter of 2025, posting diluted EPS of $3.03 against a consensus estimate of $3.01, a 0.74% positive surprise, even as revenue of $4.40 billion came in just shy of the $4.42 billion analysts had expected and fell 4.3% from a year ago. The headline numbers told a story of a builder navigating a difficult spring selling season, with home sale gross margin compressing to 27.0% from 29.9% a year earlier and net new orders sliding 7% to 7,083 homes as high interest rates and affordability pressures weighed on buyer confidence. Closings declined 6% to 7,639 homes, though a 2% rise in average selling price to $559,000 provided a partial offset. On the capital return front, PulteGroup repurchased $300 million of stock during the quarter, underscoring its financial discipline even amid market headwinds. Looking ahead, management pointed to encouraging consumer response to late-June rate pullbacks as a potential catalyst, while maintaining that production and land investment remain calibrated to current core demand levels.
Key Takeaways
- • 2% increase in average sales price to $559,000 partially offset lower closing volumes
- • Home sale gross margin of 27.0% consistent with prior guidance, down from 29.9% YoY
- • Operating margin of 17.9%
- • 6% increase in average community count to 994 communities
- • Disciplined business practices navigating competitive homebuilding environment
PHM YoY Financials
Q2 2025 vs Q2 2024, source: SEC Filings
PHM Revenue by Segment
With YoY comparisons, source: SEC Filings
“PulteGroup continues to deliver strong financial results, as our disciplined business practices allow us to navigate today's highly competitive homebuilding environment. We achieved second quarter earnings of $3.03 per share, as we closed 7,639 homes while driving exceptional gross and operating margins of 27.0% and 17.9%, respectively. Our operating and financial results allowed us to continue to return funds to shareholders, as we repurchased $300 million of stock in the second quarter, while generating a return on equity of 23%.”
— Ryan Marshall, Q2 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% |