$PHM

PULTEGROUP INC/MI/

CIK:0000822416|SEC Filings

Consolidated Statements Of Operations - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Revenues:
Revenues	$ 3,982,957	$ 4,403,755	$ 7,391,529	$ 8,296,406
Homebuilding Cost of Revenues:
Cost of revenues	(2,924,763)	(3,145,938)	(5,452,064)	(5,916,007)
Financial Services expenses	(60,673)	(59,611)	(119,839)	(114,581)
Selling, general, and administrative expenses	(382,965)	(390,453)	(763,298)	(783,790)
Equity income from unconsolidated entities	3,962	409	4,841	911
Other income (expense), net	3,921	(1,006)	10,666	5,355
Income before income taxes	622,439	807,156	1,071,835	1,488,294
Income tax expense	(150,436)	(198,673)	(252,837)	(357,012)
Net income	$ 472,003	$ 608,483	$ 818,998	$ 1,131,282
Per share:
Basic earnings (usd per share)	$ 2.49	$ 3.05	$ 4.29	$ 5.64
Diluted earnings (usd per share)	2.48	3.03	4.27	5.60
Cash dividends declared (usd per share)	$ 0.26	$ 0.22	$ 0.52	$ 0.44
Number of shares used in calculation:
Basic shares outstanding (shares)	189,388	199,243	190,734	200,645
Effect of dilutive securities (shares)	1,195	1,438	1,256	1,520
Diluted shares outstanding (shares)	190,583	200,681	191,990	202,165
Home sale revenues
Homebuilding Cost of Revenues:
Cost of revenues	$ (2,856,634)	$ (3,115,450)	$ (5,356,788)	$ (5,834,564)
Land sale and other revenues
Homebuilding Cost of Revenues:
Cost of revenues	(68,129)	(30,488)	(95,276)	(81,443)
Homebuilding \| Home sale revenues
Revenues:
Revenues	3,807,097	4,267,975	7,114,607	8,017,244
Homebuilding \| Land sale and other revenues
Revenues:
Revenues	$ 78,921	$ 34,622	$ 108,235	$ 87,176

Consolidated Statements Of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Cash flows from operating activities:
Net income	$ 818,998	$ 1,131,282
Adjustments to reconcile net income to net cash provided by operating activities:
Deferred income tax expense	13,402	19,798
Land-related charges	27,561	42,184
Loss on debt retirement	2,637	0
Depreciation and amortization	49,935	49,714
Equity income from unconsolidated entities, net	(4,841)	(911)
Distributions of income from unconsolidated entities	4,758	3,060
Share-based compensation expense	34,207	30,973
Other, net	569	(380)
Increase (decrease) in cash due to:
Inventories	(807,305)	(533,041)
Residential mortgage loans available-for-sale	63,933	47,986
Other assets	(94,825)	(175,258)
Accounts payable, accrued and other liabilities	67,773	(193,674)
Net cash provided by operating activities	176,802	421,733
Cash flows from investing activities:
Capital expenditures	(55,297)	(64,138)
Investments in unconsolidated entities	(40,875)	(7,954)
Distributions of capital from unconsolidated entities	5,508	39,419
Other investing activities, net	2,905	(6,509)
Net cash used in investing activities	(87,759)	(39,182)
Cash flows from financing activities:
Proceeds from debt issuance	794,784	0
Repayments of notes payable	(600,681)	(9,163)
Financial Services borrowings (repayments), net	(54,434)	(28,549)
Debt issuance costs	(22,759)	0
Proceeds from liabilities related to consolidated inventory not owned	18,303	16,633
Payments related to consolidated inventory not owned	(23,155)	(22,438)
Share repurchases	(681,167)	(600,000)
Excise tax on share repurchases	(11,482)	(11,550)
Cash paid for shares withheld for taxes	(38,062)	(23,761)
Dividends paid	(101,824)	(90,077)
Net cash used in financing activities	(720,477)	(768,905)
Net increase (decrease) in cash, cash equivalents, and restricted cash	(631,434)	(386,354)
Cash, cash equivalents, and restricted cash at beginning of period	2,008,776	1,653,680
Cash, cash equivalents, and restricted cash at end of period	1,377,342	1,267,326
Supplemental Cash Flow Information:
Interest paid (capitalized), net	5,879	8,088
Income taxes paid (refunded), net	$ 270,253	$ 392,286

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
ASSETS
Cash and equivalents	$ 1,335,709	$ 1,980,869
Restricted cash	41,633	27,907
Total cash, cash equivalents, and restricted cash	1,377,342	2,008,776
House and land inventory	13,715,417	12,925,413
Residential mortgage loans available-for-sale	549,713	613,665
Investments in unconsolidated entities	202,796	167,342
Other assets	2,307,328	2,217,483
Goodwill	40,377	40,377
Other intangible assets	23,385	26,210
Deferred tax assets	46,832	49,157
Total assets	18,263,190	18,048,423
Liabilities:
Accounts payable	717,891	724,885
Customer deposits	512,255	387,837
Deferred tax liabilities	459,586	448,493
Accrued and other liabilities	1,261,546	1,338,330
Financial Services debt	477,904	532,338
Notes payable	1,820,277	1,631,098
Total liabilities	5,249,459	5,062,981
Shareholders' equity	13,013,731	12,985,442
Total liabilities and shareholders' equity	$ 18,263,190	$ 18,048,423