PHM Q3 deep dive: housing demand softens, but backlog and active adult segment offer resilience

Homebuilding company PulteGroup (NYSE:PHM) fell short of the market’s revenue expectations in Q3 2026, with sales falling 9.8% year on year to $3.97 billion. Its non-GAAP profit of $2.53 per share was 3.9% below analysts’ consensus estimates.