PulteGroup Reports Second Quarter 2025 Financial Results

PulteGroup, Inc., one of America's largest homebuilding companies, has released its financial results for the second quarter of 2025, ending June 30. The company, headquartered in Atlanta, Georgia, operates in over 45 markets across the United States and includes brands such as Centex, Pulte Homes, Del Webb, DiVosta Homes, American West, and John Wieland Homes and Neighborhoods.

Financial Highlights

For the second quarter of 2025, PulteGroup reported net income of $608 million, or $3.03 per share. This is a decrease from the prior year's net income of $809 million, or $3.83 per share, which included a $52 million pre-tax insurance benefit and a $13 million tax benefit. Home sale revenues for the quarter were $4.3 billion, down 4% from the previous year. The company's home sale gross margin was 27.0%, a decrease from 29.9% in the prior year.

Business and Operational Highlights

PulteGroup closed 7,639 homes in the second quarter, generating home sale revenues of $4.3 billion. The company reported net new orders totaling 7,083 homes, valued at $3.9 billion. The unit backlog at the end of the quarter was 10,779 homes, valued at $6.8 billion. The company's financial services operations reported pre-tax income of $43 million, down from $63 million in the prior year.

Strategic Initiatives and Corporate Developments

During the quarter, PulteGroup repurchased 3.0 million of its outstanding common shares for $300 million, at an average price of $100.54 per share. The company has repurchased 5.8 million shares, or 3% of its common shares, for $600 million in the first six months of 2025. The company's debt-to-capital ratio was lowered to 11.4%, and it ended the quarter with a cash balance of $1.3 billion.

Management's Perspective

Ryan Marshall, President and CEO of PulteGroup, commented on the results, stating, "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."

Future Outlook

Marshall also noted the challenges faced by consumers due to high interest rates and economic concerns but expressed optimism about the positive consumer response to interest rate pullbacks. The company has aligned its home production and land investment to effectively serve current demand while positioning itself for future growth as market conditions improve.

SEC Filing: PULTEGROUP INC/MI/ [ PHM ] - 8-K - Jul. 22, 2025