PulteGroup, Inc. reported net income of $608 million, or $3.03 per share, for the second quarter ended June 30, 2025. This compares to $809 million, or $3.83 per share, in the prior year, which included a $52 million pre-tax insurance benefit and a $13 million tax benefit.
Home sale revenues decreased by 4% from the prior year to $4.3 billion, resulting from a 6% decrease in closings to 7,639 homes, partially offset by a 2% increase in average sales price to $559,000.
The company reported a home sale gross margin of 27.0%, consistent with its previously provided guidance range, though down from 29.9% last year. Net new orders for the quarter were 7,083 homes, a 7% decrease from the prior year, with a dollar value of $3.9 billion.
PulteGroup repurchased 3.0 million outstanding common shares for $300 million in the second quarter. The company ended the quarter with $1.3 billion in cash and a debt-to-capital ratio of 11.4%, while achieving a return on equity of 23%.
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