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Bear of the Day: PulteGroup, Inc. (PHM)

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Key Takeaways

  • PHM's EPS outlook has faded in 2025 amid a tough environment for the homebuilder and its peers.
  • PulteGroup's downbeat EPS revisions earn the stock a Zacks Rank #5 (Strong Sell).

Homebuilding powerhouse PulteGroup, Inc.’s ((PHM - Free Report) ) earnings outlook has faded significantly in 2025 amid a tough operating environment for PHM and many of its peers.

What’s Going On With Homebuilder PulteGroup

PulteGroup is one of the largest homebuilding companies in the U.S., operating in 24 states and over 45 major markets. It has delivered over 800,000 homes through its portfolio of brands, including Centex, Pulte Homes, Del Webb, DiVosta, John Wieland Homes and Neighborhoods, and American West.

These brands cater to diverse buyer segments, with 35% of PulteGroup’s homes sold to first-time buyers, 39% to move-up buyers, and 26% to active-adult buyers. It is also worth highlighting that Del Webb and DiVosta are some of the most important players in the over-55 retirement market.

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PulteGroup builds homes in popular areas from California and Texas to the Midwest, Florida, and beyond. The list of major markets includes Dallas, Austin, San Diego, Chicago, Miami, and many others. PHM’s diversified set of customers helps it grow and gain exposure to different buying trends.

PulteGroup posted stellar sales growth over the past decade, including a post-COVID boom. The company is facing slowing growth prospects as it comes up against a difficult to compete against stretch and housing industry challenges outside of its control, such as high interest rates and soaring home prices after a historic home buying and moving frenzy.

PHM provided downbeat guidance when it reported its Q1 results in late April.  “Consumers remain caught between a strong desire for homeownership and the affordability challenges of high selling prices and monthly payments that are stretched,” CEO Ryan Marshall said in prepared remarks.

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Image Source: Zacks Investment Research

“Given the structural shortage of housing, we remain constructive on long-term housing demand, and are adapting to the short-term impacts on consumer demand resulting from greater economic and financial uncertainty.”

Stay Away from PHM Stock for Now?

PHM is projected to see its adjusted earnings slide 22% YoY in 2025 on 4% lower sales. Its downbeat EPS revisions earn the stock a Zacks Rank #5 (Strong Sell). Digging into its earnings revisions, the homebuilding giant’s 2026 consensus earnings estimate is down 10% since its first quarter report.

PulteGroup stock has tanked roughly 30% from its 2024 highs. PHM is holding its ground at its 50-day moving average, and some long-term investors might want to put the homebuilder on their radars. But it is likely best to stay away from PulteGroup in the short run to make sure the housing market doesn’t get even worse.


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