)
Visual24 Oct 2025
The rise of Alphabet
PulteGroup (PHM) investor relations material
PulteGroup Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary21 Oct, 2025
Executive summary
Q3 2025 net income was $586M ($2.96/share), down 16% year-over-year, with home sale revenues of $4.2B, a 2% decrease, and 7,529 homes closed, down 5% year-over-year; average sales price rose 3% to $564,000.
Net new orders declined 6% to 6,638 homes, with backlog units down 18% to 9,888 and backlog value down 19% to $6.2B.
Returned $344M to shareholders in Q3 through dividends and share repurchases; YTD repurchases total $900M (8.2M shares, 4% of outstanding).
Diversified operations across 47 major markets and buyer segments, with active adult segment showing resilience amid weaker first-time buyer demand.
Management remains disciplined in production and capital allocation, positioning for growth when buyer demand improves.
Financial highlights
Q3 gross margin was 26.2%, down from 28.8% last year, reflecting higher incentives (8.9% of gross sales price) and increased lot costs.
SG&A expense was $401M (9.4% of home sale revenues), flat year-over-year.
Financial services pre-tax income was $44M, down 19% year-over-year.
Homebuilding segment income before income taxes was $723M in Q3 2025, down from $851M in Q3 2024.
Ended Q3 with $1.5B in cash and a debt-to-capital ratio of 11.2%.
Outlook and guidance
FY 2025 guidance: 29,000–29,400 closings, average sales price $560K–$570K, land spend $5.0B, operating cash flow up 3%–5%.
Q4 gross margin expected at 25.5%–26.0%; full-year SG&A expense guided at 9.5%–9.7% of home sale revenues.
Community count in Q4 projected to be 3%–5% higher year-over-year.
Management expects continued affordability challenges and volatile sales pace, with elevated sales incentives and dynamic housing starts.
The company remains focused on liquidity, measured capital allocation, and shareholder returns, including ongoing share buybacks and dividends.
Drivers of Q3 gross margin compression?
Rationale for higher community count amid lower orders?
Capital allocation strategy given growth positioning?
What drives higher spec inventory vs target?
Outlook for Texas/West market recovery
Quantify future land development cost benefits
Partial view of Summaries dataset, powered by Quartr API
Research faster. Power your platform.
Next PulteGroup earnings date
Q4 202529 Jan, 2026
Next PulteGroup earnings date
Q4 202529 Jan, 2026
The essential earnings season companion
The #1 app for live earnings calls, transcripts, analyst estimates, and more. All for free.
Live calls and transcripts
Listen to earnings calls, CMDs, investor conferences, and more – with a podcast-like experience.
Find what you need faster
Search for any keyword across all transcripts simultaneously.
Easily store key findings
Capturing important takeaways is as simple as it gets. Even during your lunch run or commute.
Your watchlist. Your dashboard.
Follow the companies that matter to you. Get a personalized feed with real-time updates.
Be the first to know
Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned.
Consensus estimates
Access analyst consensus estimates, valuation multiples, and revenue segments splits.
All IR material in one place
The easiest way to stay updated during earnings season.
Global coverage
All events from public companies. Live and recorded.
Just click and listen
No webcast links. No manual registrations.
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
)
Leroy DaleyApp Store
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
)
Eferix Drawings Google Play
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
anuj283App Store
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
Leroy DaleyApp Store
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
Eferix Drawings Google Play
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
anuj283App Store
I can't remember the last time an app had such a positive impact on my investment process.
)
@ankurshah47_ x.com
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
Amina0781App Store
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
@theshortbearx.com
I can't remember the last time an app had such a positive impact on my investment process.
@ankurshah47_ x.com
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
Amina0781App Store
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
@theshortbearx.com
)
)
Frequently asked questions
One of America's Largest Homebuilders
PulteGroup, Inc. is an American company primarily engaged in home construction. The company builds and sells residential homes, serving multiple customer segments, including first-time, move-up, and active adult buyers. Additionally, the company offers financial services like mortgage lending and title operations to facilitate the home-buying process for its customers. The company is headquartered in Atlanta, Georgia, and its shares are listed on the NYSE.
Bill Pulte
What is today a multi-billion dollar company was started by Bill Pulte in 1956, who had started building homes when he was just 18 years old. Initially operating out of Michigan, the company grew steadily and had its IPO in 1972. Expansion ramped up after the company went public, and the growth continued both organically and through several acquisitions over the years. Today, the company has built over 700.000 homes since its founding and is one of the largest companies of its kind in the US. Some other large American homebuilders include D.R. Horton, KB Home, and Lennar Corporation.
The Homes
PulteGroup, through its brands such as Pulte Homes, Centex, Del Webb, DiVosta, and John Wieland Homes, offers a diverse range of home types catering to different market segments. Their portfolio includes single-family homes, which are designed for various life stages from first-time homebuyers to upscale buyers seeking luxury features. These homes often emphasize modern design, energy efficiency, and smart home technology. Townhouses and condominiums are also part of their offering, appealing to those seeking lower maintenance living spaces, often in urban or suburban settings. For older adults, PulteGroup's Del Webb brand specializes in active adult communities, focusing on lifestyles and amenities suitable for retirees.
Pulte Mortgage
PulteGroup offers financing services through its subsidiary, Pulte Mortgage. Established to streamline the homebuying process for PulteGroup's customers, Pulte Mortgage provides a variety of financing options tailored to individual homebuyer needs. Their offerings include conventional loans, Federal Housing Administration (FHA) loans, Veterans Affairs (VA) loans, and jumbo loans for more expensive home purchases.
Quartr provides global coverage of all investor relation material from public companies.
Mobile app: Research anytime, anywhere with the #1 app for live earnings calls, transcripts, analyst estimates, and more. All for free.
Desktop (Quartr Pro): The leading platform for qualitative research, used daily by top firms and financial institutions.
Quartr API: Build custom solutions powered by live earnings calls, live transcripts, filings and reports, slide presentations, and more.
Yes, the Quartr mobile app is free on both iOS and Android.
Yes. Quartr provides global, industry-leading live coverage of company events such as regular earnings calls, capital markets days, M&A announcements, and investor conferences. Live with zero delays. Just click and listen.
Yes, capturing important takeaways is as simple as it gets. Even during your lunch run or commute.
Yes. Follow the companies that matter to you. Get a personalized feed with real-time updates, a tailored earnings calendar, and instant alerts when earnings calls go live.
Yes. Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned, regardless of who's talking.
Explore our global coverage