Pultegroup's quarterly profit, revenue fall amid sluggish demand for homes

Published: 2026-04-23 08:51:54 ET PHM

Published on 04/23/2026 at 08:51 am EDT

April 23 (Reuters) - Homebuilder Pultegroup on Thursday posted a drop in profit and revenue for the first quarter, as rising inflation keeps homebuyers on the sidelines.

o CEO Ryan Marshall said domestic and global dynamics hurt demand.

o Homebuilding sector has struggled with declining sales for multiple quarters, as years of underproduction amid labor shortages and restrictive land zoning have pushed home prices higher.

o "We see a consumer with concerns about affordability and the economy," Marshall said.

o The company announced a $1.5 billion increase in share buyback program.

o Home sale gross margin decreased to 24.4% for the first quarter, from 27.5% a year ago.

o Total revenue for the quarter ended March 31 came at $3.41 billion, compared with $3.89 billion a year ago.

o On a diluted basis, Pultegroup reported a quarterly profit of $1.79 per share, compared with $2.57 per share a year ago.

(Reporting by Anshuman Tripathy in Bengaluru; Editing by Sahal Muhammed)