[GUEST ACCESS MODE: Data is scrambled or limited to provide examples. Make requests using your API key to unlock full data. Check https://lunarcrush.ai/auth for authentication information.]  LongYield [@LongYield](/creator/twitter/LongYield) on x 4486 followers Created: 2025-07-23 12:59:03 UTC $PHM PulteGroup, Inc. Earnings Call Key Highlights: (1/2) 🏘️ Q2 2025 Financial Performance and Margins PulteGroup delivered home sale revenues of $XXX billion, down X% YoY, with closings down X% to XXXXX homes; however, average selling price increased X% to $XXXXXXX. Reported gross margin for the quarter was 27.0%, at the high end of guidance, benefiting from favorable product and geographic mix despite higher incentives. Net income totaled $XXX million, or $XXXX per share, down from $XXXX in Q2 2024, which included a $XXXX benefit from insurance and tax resolutions. SG&A expenses were $XXX million or XXX% of revenues, with full-year guidance reaffirmed at 9.5%–9.7%; pre-tax income for the quarter was $XXX million with a XXXX% effective tax rate. 📉 Order Trends and Market Absorption Net new orders totaled XXXXX homes, down X% YoY due to a XX% drop in absorption pace, partially offset by a X% increase in community count to XXX. Absorption pace fell to XXX homes per month from XXX in Q2 2024, aligning slightly below pre-COVID levels, reflecting ongoing market volatility. Order ASP declined X% YoY to $549,000, driven by geographic and product mix shifts and increased incentives, particularly in Western and Texas markets. Cancellation rate remained stable at 11%, consistent with Q1 and only modestly above last year, indicating buyer commitment post-contract. 🏗️ Spec Inventory and Production Strategy Q2 home starts totaled 7,220, down XX% YoY, as the company intentionally slowed starts to align with softer demand trends. Ended the quarter with XXXXXX homes in production, of which XX% were spec; spec inventory decreased X% sequentially and XX% YTD. Management expects spec share to normalize to 40%–45% of units in production by year-end, striking a balance between sales velocity and pricing discipline. Targeted Q3 deliveries of 7,200–7,600 homes; full-year closing guidance refined to XXXXXX homes based on order activity and absorption trends. 🧓 Active Adult Segment and Del Webb Growth Active adult orders grew X% YoY, now comprising XX% of total Q2 sign-ups; this segment offers higher pricing and margins relative to first-time and move-up buyers. Del Webb Explorer, a new non-age-restricted brand targeting Gen X buyers, is gaining traction with lifestyle-driven demand and promising community launches. While active adult closings were XX% of Q2 volume, new orders from this segment will predominantly contribute to 2026 closings, pushing the mix back toward 24%–25%. The segment typically delivers gross margins XXX bps higher than move-up and XXX bps above first-time buyer margins, supporting long-term profitability. 📍 Regional Demand Dynamics Strongest markets included Cleveland, Chicago, Indianapolis, Charlotte, and Coastal Carolinas, with Florida also delivering X% order growth YoY. Within Florida, Central, West, and Southwest markets performed well, while Southeast and Northeast Florida were softer due to affordability pressures. Softer conditions were seen in California and Texas, especially in Dallas and both Northern and Southern California, particularly among move-up buyers. Western and tech-influenced markets continue to face challenges from past price appreciation and economic uncertainty, prompting tactical responses like re-trading or exiting land deals.  XXX engagements  **Related Topics** [phm](/topic/phm) [homes](/topic/homes) [quarterly earnings](/topic/quarterly-earnings) [$phm](/topic/$phm) [pultegroup inc](/topic/pultegroup-inc) [stocks consumer cyclical](/topic/stocks-consumer-cyclical) [Post Link](https://x.com/LongYield/status/1948004936404361563)
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LongYield @LongYield on x 4486 followers
Created: 2025-07-23 12:59:03 UTC
$PHM PulteGroup, Inc. Earnings Call Key Highlights: (1/2)
🏘️ Q2 2025 Financial Performance and Margins
PulteGroup delivered home sale revenues of $XXX billion, down X% YoY, with closings down X% to XXXXX homes; however, average selling price increased X% to $XXXXXXX.
Reported gross margin for the quarter was 27.0%, at the high end of guidance, benefiting from favorable product and geographic mix despite higher incentives.
Net income totaled $XXX million, or $XXXX per share, down from $XXXX in Q2 2024, which included a $XXXX benefit from insurance and tax resolutions.
SG&A expenses were $XXX million or XXX% of revenues, with full-year guidance reaffirmed at 9.5%–9.7%; pre-tax income for the quarter was $XXX million with a XXXX% effective tax rate.
📉 Order Trends and Market Absorption
Net new orders totaled XXXXX homes, down X% YoY due to a XX% drop in absorption pace, partially offset by a X% increase in community count to XXX.
Absorption pace fell to XXX homes per month from XXX in Q2 2024, aligning slightly below pre-COVID levels, reflecting ongoing market volatility.
Order ASP declined X% YoY to $549,000, driven by geographic and product mix shifts and increased incentives, particularly in Western and Texas markets.
Cancellation rate remained stable at 11%, consistent with Q1 and only modestly above last year, indicating buyer commitment post-contract.
🏗️ Spec Inventory and Production Strategy
Q2 home starts totaled 7,220, down XX% YoY, as the company intentionally slowed starts to align with softer demand trends.
Ended the quarter with XXXXXX homes in production, of which XX% were spec; spec inventory decreased X% sequentially and XX% YTD.
Management expects spec share to normalize to 40%–45% of units in production by year-end, striking a balance between sales velocity and pricing discipline.
Targeted Q3 deliveries of 7,200–7,600 homes; full-year closing guidance refined to XXXXXX homes based on order activity and absorption trends.
🧓 Active Adult Segment and Del Webb Growth
Active adult orders grew X% YoY, now comprising XX% of total Q2 sign-ups; this segment offers higher pricing and margins relative to first-time and move-up buyers.
Del Webb Explorer, a new non-age-restricted brand targeting Gen X buyers, is gaining traction with lifestyle-driven demand and promising community launches.
While active adult closings were XX% of Q2 volume, new orders from this segment will predominantly contribute to 2026 closings, pushing the mix back toward 24%–25%.
The segment typically delivers gross margins XXX bps higher than move-up and XXX bps above first-time buyer margins, supporting long-term profitability.
📍 Regional Demand Dynamics
Strongest markets included Cleveland, Chicago, Indianapolis, Charlotte, and Coastal Carolinas, with Florida also delivering X% order growth YoY.
Within Florida, Central, West, and Southwest markets performed well, while Southeast and Northeast Florida were softer due to affordability pressures.
Softer conditions were seen in California and Texas, especially in Dallas and both Northern and Southern California, particularly among move-up buyers.
Western and tech-influenced markets continue to face challenges from past price appreciation and economic uncertainty, prompting tactical responses like re-trading or exiting land deals.
XXX engagements
Related Topics phm homes quarterly earnings $phm pultegroup inc stocks consumer cyclical