PulteGroup profit falls as closings and margins weaken
PulteGroup ($PHM) reported third-quarter 2026 net income of $476 million, or $2.53 per share, compared with $586 million, or $2.96 per share, a year earlier. Home-sale revenue fell 9% to $3.9 billion as closings declined 9% to 6,876 homes. The average selling price decreased 1% to approximately $561,000. Home-sale gross margin declined to 24.8% from 26.2%, including $26 million of land-related impairment charges that reduced margin by 70 basis points. New orders fell 6% to 6,208 homes, although
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