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Analyst
Ryan Gilbert
Period: Reporting periods mapped to calendar 2025 Q4 – 2026 Q2 (3 quarters).
- Questions
- 8on tracked calls
- Challenge rate
- 13%1 of 8 questionsLimited sample
- Companies
- 2questioned at least once
- Reporting periods
- 3with questions
These figures cover the whole profile: every tracked question, all reporting periods.
How to read these numbers
Challenge rate is the share of questions that pushed back, pressed for specifics or questioned management’s assumptions. It describes how questions were asked on the calls tracked here; it does not measure whether any view turned out to be right.
Rounding. Rates are rounded to whole percentages, so a small share can show as 0% even when some questions were challenging. The count beside each rate is exact; “none of N questions” means no question was challenging.
No questions recorded. “—” means there is nothing to calculate: no questions were recorded for that period on the calls tracked here. It does not mean there was no activity.
Fewer than 3 questions. A company-level rate is withheld when fewer than 3 questions were recorded for that company; the questions are still counted everywhere else.
Small samples. Profiles with fewer than 10 questions are marked Limited sample.
Reporting periods. Questions are grouped by the calendar quarter each company’s fiscal reporting period maps to, not by the date of the call. Periods without a calendar mapping are listed separately under their fiscal label.
Questions asked
Grouped by company, most questions first. Open a company to read its questions, newest reporting period first.
Showing 8 of 8 questions from 2 companies
DHID. R. Horton6 questions · 3 reporting periods · 0 of 6 challenging
Calendar 2026 Q2
Is that more than you expected, and is that tied to some of the softer results
Show response
Mike said rising finished specs reflect faster cycle times against 9% more communities, leaving fewer and fresher specs per community.
should we recalibrate that mid-single digit growth rate expectation
Show response
Jessica reaffirmed a long-term mid-single-digit community count growth target, moderating from the recent low-double-digit pace.
Calendar 2026 Q1
Is that just a function of the drop in standing inventory? Or are you able to offer more incentives on homes under construction
Show response
Hansen said shorter cycle times enable selling earlier while still offering rate buydowns. Earlier sales typically yield a gross margin lift versus selling completed homes.
Did you increase starts throughout the quarter? Do you need to make any adjustments as a result of the Iran conflict
Show response
Murray said starts plan was maintained throughout Q2 with good sales demand. Expects Q3 starts down sequentially but roughly flat year over year, dependent on community-level sales.
Calendar 2025 Q4
Has that been the case so far in January? Have you seen a pickup in homebuyer demand given the the drop in rates
Show response
Romanowski said pleased with early results but very early in spring selling season. Rates crossing thresholds like 6% create more sales office activity.
Are there any markets where you've where you're seeing any any benefit from you know, less inventory coming online
Show response
Romanowski said no specific markets with significant supply shifts but overall rational approach to starts across the industry. Completed home count down a couple thousand sequentially.
PHMPulteGroup2 questions · 1 reporting period · 1 of 2 challenging
Calendar 2026 Q2
if you could remind us the difference between order to close cycle times between spec homes and built to order.
Show response
Management said build times are identical at about 100 days; order-to-close differs only when a finished spec sits unsold.
Why not target a higher delivery level and get some SG&A leverage in 2026?
Show response
Management defended prioritizing the pace-price balance and return over volume, accepting less-than-optimal overhead leverage.
Challenge rate by company
Every company this analyst questioned, most questions first. A company-level rate is shown from 3 questions; below that it is withheld.
| Company | Questions | Challenge rate |
|---|---|---|
| DHI D. R. Horton | 6 | 0%none of 6 questions |
| PHM PulteGroup | 2 | —Rate withheld: fewer than 3 questions |
Activity by reporting period
Questions recorded for each calendar quarter that companies’ reporting periods map to (not the call date), with the challenge rate for that period. Periods inside the range with no questions are shown as “No questions recorded”.
| Calendar period | Questions | Challenge rate | Companies |
|---|---|---|---|
| 2025 Q4 | 2 | 0%none of 2 questions | 1 |
| 2026 Q1 | 2 | 0%none of 2 questions | 1 |
| 2026 Q2 | 4 | 25%1 of 4 questions | 2 |
- 2025 Q42 questions · challenge rate 0% (none of 2 questions) · 1 company
- 2026 Q12 questions · challenge rate 0% (none of 2 questions) · 1 company
- 2026 Q24 questions · challenge rate 25% (1 of 4 questions) · 2 companies
Topics
Topics tagged on this analyst’s questions.
- Inventory4
- Demand3
- Guidance Reliability2
- Supply Chain2
- Geographic Expansion1
- Pricing1
- Margin1
- Macroeconomic1
- Competitive Dynamics1