PulteGroup, Inc. (NYSE: PHM) announced its financial results for the third quarter ended September 30, 2026, in a filing dated October 22, 2026. The company reported net income of $476 million, or $2.53 per share, a decrease from the prior year's net income of $586 million, or $2.96 per share.
For the quarter, PulteGroup generated home sale revenues of $3.9 billion, a 9% decrease from the $4.2 billion reported in the prior year period. This decline was attributed to a 9% decrease in closings to 6,876 homes and a 1% decrease in the average sales price of homes closed to $561,000. The company reported a home sale gross margin of 24.8%, down from 26.2% in the prior year, which included $26 million in land impairments.
Third quarter net new orders totaled 6,208 homes, a 6% decrease from the prior year's 6,638 homes. The value of these orders was $3.5 billion. At the end of the quarter, the company’s backlog increased 4% to 10,298 homes with a value of $6.4 billion.
In the quarter, PulteGroup repurchased 2.8 million of its common shares for $350 million, or an average price of $124.70 per share. Through the first nine months of 2026, the company repurchased 8.4 million shares for $1.0 billion. The company ended the quarter with $1.4 billion of cash and a debt-to-capital ratio of 12%.
