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Mar 31
PulteGroup Q1 2025 Earnings Report
Reported $523 million in net income with revenues totaling $3.89 billion, reflecting disciplined operations amidst affordability headwinds.
Key Takeaways
PulteGroup delivered solid Q1 2025 results, with $522.8 million in net income and home sale revenues of $3.75 billion. Despite a year-over-year decline in closing volume, higher average selling prices supported strong profitability and returns. Operating income remained robust, backed by a 27.5% gross margin and continued focus on disciplined underwriting and capital allocation.
Net income totaled $522.8 million, or $2.57 per share, for the quarter.
Home sale revenues reached $3.75 billion on 6,583 closings, with a 27.5% gross margin.
Backlog stood at 11,335 homes valued at $7.22 billion.
Quarter-end cash position was $1.24 billion after $300 million in share repurchases.
PulteGroup
PulteGroup
PulteGroup Revenue by Segment
Revenue by Segment
Financial Services Revenue
CapyFin.com Forward Guidance
The company maintains a constructive long-term view on housing demand, while closely monitoring affordability challenges and economic uncertainty in the near term.
Positive Outlook
- Diversified operating model provides geographic balance.
- Disciplined underwriting continues to protect margins.
- Strong capture rate of 86% in financial services.
- Solid cash position of $1.3 billion supports capital deployment.
- Continued investment in growth and shareholder returns.
Challenges Ahead
- Affordability challenges persist amid high home prices and monthly payments.
- Lower net new orders due to macroeconomic uncertainty.
- Reduced backlog value and units from prior year.
- Decline in financial services income due to fewer closings.
- Home sale revenues declined 2% year-over-year.