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Corporate events
Filed after the FY2025 Q1 call day (Apr 22, 2025) through the next call day (Jul 22, 2025)From SEC 8-K filings
No 8-K events recorded for this window.
Top analysts & firms
All analyzed callsNot limited to the selected quarter · analysts and firms with 2 or more questions
What does “challenging” mean?
Percentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions.
Most active analysts
Analyst
Firm
Questions · challengingPercentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions.
Questions · challengingPercentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions.
PulteGroup reported Q1 home sale revenues of $3.7 billion, down 2%, with EPS of $2.57 compared to $3.10 a year earlier. Full-year closings guidance was lowered from 31,000 to 29,000-30,000 as spec inventory remained elevated, requiring a starts reduction. Tariff-induced cost pressure emerged, and April demand volatility reflected macro uncertainty. Move-up and active adult segments outperformed. Q3-Q4 gross margins were lowered to 26.0-26.5%.
Analyst challenge ratePercentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. · all analyzed quarters
16%company-level, not the selected quarter
GAAP revenue YoY -1.43% → base 4. The base score is anchored to the GAAP revenue YoY band before transcript, EPS, and guidance adjustments.
▸How this score was built
Base4Base 4GAAP revenue YoY -1.43% → base 4. The base score is anchored to the GAAP revenue YoY band before transcript, EPS, and guidance adjustments.+Transcript0Transcript 0GAAP revenue decline of -1.43% is real, driven by 7% fewer closings partially offset by 6% higher ASP. No GAAP distortion on revenue.
Share price · trailing year
daily closes, last 12 months — not scoped to the selected quarter · dots mark earnings calls, colored by that quarter’s score
Sources.Tellvest earnings-call sentiment score for PulteGroup (PHM), FY2025 Q1: 1/10. Scores: PulteGroup’s public earnings-call transcripts and SEC-reported results — the base band is anchored to reported GAAP revenue growth; transcript, EPS and guidance adjustments are applied separately (documented exceptions apply to a few issuers). Price: PHM daily closing prices for the trailing year; dots mark earnings calls, colored by that quarter’s score; the newest quarter’s score is part of Tellvest Pro. How to read a company earnings-call score.
Met Or Exceeded Q1 Guidance Despite Headwinds
Delivered 6,583 homes with 27.5% gross margins, net income of $523 million and trailing twelve-month ROE of 25.4%, meeting or exceeding all guidance metrics.
MarginGuidance Reliability
negative📊 company
Full-Year Closings Guidance Lowered To 29-$30K
Reduced FY2025 delivery guide from 31,000 to 29,000-30,000 homes, reflecting weaker spring demand and April volatility.
Spec inventory at 47% of production still above 40-45% target range despite lowering starts pace approximately 10%. Excess finished specs require clearing incentives.
Inventory
negative🌍 macro
Tariff-Induced Cost Pressure Emerging
Estimated tariff impact of 1% of ASP (~$5,000 per home) expected primarily in Q4 closings, affecting plumbing, HVAC, flooring, and electrical components.
Trade TariffsCost Pressure
negative🌍 macro
April Demand Volatility Amid Macro Uncertainty
Daily sales rates in April showed unusual volatility driven by stock market swings, recession fears, tariff concerns, and interest rate fluctuations.
MacroeconomicDemand
positive📊 company
Move-Up And Active Adult Segments Outperforming
Option and lot premium spend climbed to $110,000 per home in Q1, up from $102,000 and $107,000 in Q1 and Q4 of prior year respectively.
what does that signal around your growth intentions perhaps into 2026? Would a portion of that land spend be impacting community growth as soon as next year?
really wanted to get a better sense for how traffic trended in your Del Webb communities in early April, especially on the back of equity market volatility
maybe could you just talk to the change in guidance, as it relates to the third quarter, and just maybe bucket out incentives versus any other cost buckets
Does this still assume no reduction in homes under construction, or homes in progress? Because it looks like that actually would be an additional contributor
FY2025 Q1 selectedReported GAAP figures from SEC filings
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Quarter
Revenue
Rev YoY
EPS
EPS YoY
Net margin
FCF
FY2024 Q4
$4.92B
+14.6%
$4.43
+35.1%
18.6%
$543M
FY2025 Q1Selected
$3.89B
-1.4%
$2.57
-17.1%
13.4%
$105M
FY2025 Q2
$4.40B
-4.3%
$3.03
-20.9%
13.8%
$253M
FY2025 Q3
$4.40B
-1.6%
$2.96
-11.6%
13.3%
$651M
FY2025 Q4
$4.61B
-6.3%
$2.56
-42.2%
10.9%
$740M
FY2026 Q1
$3.41B
-12.4%
$1.79
-30.4%
10.2%
$134,355
FY2026 Q2
$3.98B
-9.6%
$2.43
-19.8%
11.9%
$-12,850
As stated by management
Management’s own words, often on a non-GAAP, constant-currency, or adjusted basis — so these can differ from the GAAP figures above (e.g. constant-currency revenue growth excludes currency swings).
EPS
“$2.57 per share vs $3.10 prior year (prior included $0.23/share one-time benefits)”
Revenue
“Home sale revenues $3.7 billion, down 2% from $3.8 billion prior year”
Guidance
“FY2025 closings lowered to 29,000-30,000 from 31,000; Q3-Q4 GM lowered to 26.0-26.5% from 26.5-27.0%”
Key metric
“Incentives increased to 8% of gross sales price; spec inventory reduced from 53% to 47%”
Mentions1
What PHM and other companies said about each other on FY2025 Q1 earnings calls — extracted verbatim from public transcripts. Mentions from the newest quarter are a Pro feature.
“Moody's recently upgraded our senior unsecured notes to Baa1.”
Moody's upgraded PulteGroup's senior unsecured notes to Baa1, reflecting the company's strong balance sheet position this quarter.
+
EPS-1EPS -1GAAP EPS YoY -17.10% vs revenue YoY -1.43%, spread -15.67 percentage points (outside -5 percentage points, negative). Vendor OI cross-check (oi_yoy -17.20%, operating income spread -15.77 percentage points) is INADMISSIBLE and dropped: PulteGroup files no us-gaap OperatingIncomeLoss concept (no-oi-subtotal.ts), so operating_income is a vendor reconstruction, not a reported figure. The -1 rests instead on the management-stated operating result: CFO Jim Ossowski reported Q1 2025 income before income taxes of $681M vs prior-year Q1 2024 reported pre-tax income of $868M (PulteGroup Q1 2024 release) = -21.5%, against revenue -1.43% = -20.1 percentage points, outside -5 percentage points same negative direction -> -1. Corroborated two independent ways: (1) ex the $65M prior-year one-time benefits ($27M insurance + JV-sale gain) that inflated the FY2024-Q1 base, adjusted pretax $681M vs $803M = -15.2% (still -1); (2) home-building operating income (gross profit less SG&A) 3.7B*27.5% - $393M ~= $625M vs 3.8B*29.6% - $358M ~= $767M = -18.5%. Home-sale gross margin compressed 210bps (27.5% vs 29.6%) and SG&A deleveraged (10.5% vs 9.4% of home-sale revenue) on roughly flat revenue, so the decline is operating, not a below-the-line artifact. Homebuilder (not a bank/insurer) - pre-tax income is the admissible operating anchor; PPNR/underwriting rules N/A. -> -1. eps_override_used true (anchored on the management-stated pre-tax income operating figure).
Base4Base 4GAAP revenue YoY -1.43% → base 4. The base score is anchored to the GAAP revenue YoY band before transcript, EPS, and guidance adjustments.+Transcript0Transcript 0GAAP revenue decline of -1.43% is real, driven by 7% fewer closings partially offset by 6% higher ASP. No GAAP distortion on revenue.+EPS-1EPS -1GAAP EPS YoY -17.10% vs revenue YoY -1.43%, spread -15.67 percentage points (outside -5 percentage points, negative). Vendor OI cross-check (oi_yoy -17.20%, operating income spread -15.77 percentage points) is INADMISSIBLE and dropped: PulteGroup files no us-gaap OperatingIncomeLoss concept (no-oi-subtotal.ts), so operating_income is a vendor reconstruction, not a reported figure. The -1 rests instead on the management-stated operating result: CFO Jim Ossowski reported Q1 2025 income before income taxes of $681M vs prior-year Q1 2024 reported pre-tax income of $868M (PulteGroup Q1 2024 release) = -21.5%, against revenue -1.43% = -20.1 percentage points, outside -5 percentage points same negative direction -> -1. Corroborated two independent ways: (1) ex the $65M prior-year one-time benefits ($27M insurance + JV-sale gain) that inflated the FY2024-Q1 base, adjusted pretax $681M vs $803M = -15.2% (still -1); (2) home-building operating income (gross profit less SG&A) 3.7B*27.5% - $393M ~= $625M vs 3.8B*29.6% - $358M ~= $767M = -18.5%. Home-sale gross margin compressed 210bps (27.5% vs 29.6%) and SG&A deleveraged (10.5% vs 9.4% of home-sale revenue) on roughly flat revenue, so the decline is operating, not a below-the-line artifact. Homebuilder (not a bank/insurer) - pre-tax income is the admissible operating anchor; PPNR/underwriting rules N/A. -> -1. eps_override_used true (anchored on the management-stated pre-tax income operating figure).+Guidance-2Guidance -2FY2025 closings guidance lowered from 31,000 to 29,000-30,000 (mid 29,500). Revenue proxy: 31K × $565K = $17.515B. 5K × $565K = $16.668B. Change = (16,668 - 17,515) / 17,515 = -4.84% → lowered ≥3%.=Final1