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Homebuilder PulteGroup Inc. (NYSE:PHM) reported strong financial results for the third quarter of 2025.
The company posted adjusted earnings of $2.96 per share, beating the consensus estimate of $2.90. Revenue was $4.40 billion, a decrease of 2% year over year, but it surpassed the analysts' expectations of $4.29 billion.
The SG&A ratio stood at 9.4%, which is the same as last year. Financial services pre-tax income declined to $44 million from $55 million a year ago due to lower closings.
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Lower profit was driven primarily by lower closing volumes in the company's homebuilding operations and a decrease in the mortgage capture rate to 84%, compared with 87% last year.
Home sale revenue declined 2% year over year (Y/Y) to $4.2 billion, due to a 5% drop in closings to 7,529 homes.
The decrease was partially offset by a 3% Y/Y rise in the average selling price to $564,000. Home sale gross margin was 26.2%, down from 28.8% a year ago.
Net new orders fell to 6,638 homes from 7,031 in the prior-year quarter, with the dollar value of new orders declining to $3.6 billion from $3.9 billion.
The company ended the quarter with a backlog of 9,888 homes valued at $6.2 billion.
For the nine months ended September 30, 2025, PulteGroup reported operating cash flow of $1.10 billion, versus $1.11 billion in the same period a year earlier.
PulteGroup finished the quarter with $1.5 billion in cash and reduced its debt-to-capital ratio to 11.2%. The company repurchased 2.4 million shares for $300 million during the period.
CEO Ryan Marshall said. "Within the current operating conditions, our diversified business platform is enabling PulteGroup to deliver strong financial results, while we continue to position the business for growth when buyer demand improves in the future."
"We are encouraged to see that interest rates have moved lower, but continue to monitor buyer demand that has been impacted by weaker consumer confidence and ongoing affordability challenges."
Investors can gain exposure to the stock via iShares U.S. Home Construction ETF (NYSE:ITB) and First Trust Dorsey Wright Momentum & Value ETF (NASDAQ:DVLU).
Price Action: PulteGroup shares were down 1.04% at $121.99 during premarket trading on Tuesday, according to Benzinga Pro data.
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Photo by Kristi Blokhin via Shutterstock
