Pultegroup's quarterly profit, revenue fall amid sluggish demand for homes
23/04/2026 12:12
April 23 (Reuters) - Homebuilder Pultegroup PHM.N on Thursday posted a drop in profit and revenue for the first quarter, as rising inflation keeps homebuyers on the sidelines. CEO Ryan Marshall said domestic and global dynamics hurt demand. 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. "We see a consumer with concerns about affordability and the economy," Marshall said. The company announced a $1.5 billion increase in share buyback program. Home sale gross margin decreased to 24.4% for the first quarter, from 27.5% a year ago. Total revenue for the quarter ended March 31 came at $3.41 billion, compared with $3.89 billion a year ago. 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) ((Anshuman.Tripathy@thomsonreuters.com;))