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Sentiment · FY2026 Q1
| Analyst | Firm | Questions | ChallengePercentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|---|
| Mike Rehaut | JPMorgan | 12 | 17% |
| John Lovallo | UBS | 12 | 8% |
| Steve Kim | Evercore ISI | 11 | 9% |
| Matt Bouley | Barclays | 10 | 20% |
| Mike Dahl | RBC Capital Markets | 9 | 0% |
| Alan Ratner | Zelman & Associates | 9 | 22% |
| Sam Reid | Wells Fargo | 7 | 0% |
| Trevor Allinson | Wolfe Research | 6 | 0% |
| Tony Pettinari | Citigroup | 6 | 0% |
| Rafe Jadrosich | Bank of America | 4 | 0% |
| Firm | Analysts | Questions | ChallengePercentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|---|
| JPMorgan | 1 | 12 | 17% |
| UBS | 1 | 12 | 8% |
| Zelman & Associates | 2 | 11 | 18% |
| Evercore ISI | 1 |
| 11 |
| 9% |
| Barclays | 1 | 10 | 20% |
| RBC Capital Markets | 1 | 9 | 0% |
| Wolfe Research | 2 | 7 | 0% |
| Wells Fargo | 1 | 7 | 0% |
PulteGroup reported Q1 home sale revenues of $3.3 billion, down 12%, with EPS of $1.79 versus $2.57 a year earlier. Gross margin declined to 24.4% on a 10.9% incentive load. Orders grew 3% driven by 18% Florida growth. The build-to-order mix was improving to 43% of orders, but the transition depressed near-term cash flow. House costs declined 5% year-over-year to $75 per square foot. FY2026 guidance was reaffirmed with margins likely at the lower end. The K-shaped economy persisted with first-time buyers most challenged.
Demand | Pricing | Margin | Capex Investment | Cost Pressure | Inventory | Geographic Expansion | Revenue Growth | |
|---|---|---|---|---|---|---|---|---|
| 2024Q4 | 6 | 4 | 5 | 1 | 3 | 3 | 3 | 1 |
| 2025Q1 | 6 | 3 | 4 | 3 | 1 | 3 | 1 | 1 |
| 2025Q2 | 4 | 6 | 5 | 6 | 4 | 1 | 1 | |
| 2025Q3 | 4 | 4 | 3 | 2 | 2 | 2 | 3 | 1 |
| 2025Q4 | 6 | 7 | 6 | 4 | 3 | 3 | 2 | 2 |
| 2026Q1 | 4 | 5 | 4 | 2 | 2 | 3 | 2 | 1 |
| '24Q4 | '25Q1 | '25Q2 | '25Q3 | '25Q4 | '26Q1 | |
|---|---|---|---|---|---|---|
| Demand | 6 | 6 | 4 | 4 | 6 | 4 |
| Pricing | 4 | 3 | 6 | 4 | 7 | 5 |
| Margin | 5 | 4 | 5 | 3 | 6 | 4 |
| Capex Investment | 1 | 3 | 6 | 2 | 4 | 2 |
| Cost Pressure | 3 | 1 | 4 | 2 | 3 | 2 |
| Inventory | 3 | 3 | 2 | 3 | 3 | |
| Geographic Expansion | 3 | 1 | 1 | 3 | 2 | 2 |
| Revenue Growth | 1 | 1 | 1 | 1 | 2 | 1 |
| Company | Score | Trend | Rev YoY |
|---|---|---|---|
PHM PulteGroup | 2 | -12.4% | |
| DHI D. R. Horton | 2 | -2.3% | |
| LEN Lennar | 2 | -13.1% |