PHM — what changed in the latest 10-Q
A section-by-section comparison of PHM's newest periodic SEC filing (10-K/10-Q) against the prior same-form filing: paragraphs added and removed per section, with verbatim excerpts. Purely a deterministic text diff — no similarity scores, no directional read, not investment advice.
Comparing 10-Q · 2026-07-22 vs the prior 10-Q · 2026-04-23
| Section | Outcome | Added | Removed | Minor | Unchanged |
|---|---|---|---|---|---|
| MD&A | Text added/removed | +14 | −7 | ~40 | 41 |
| Market risk (Item 3) | Text added/removed | 0 | 0 | ~2 | 5 |
| Controls & procedures | Text added/removed | 0 | 0 | ~2 | 0 |
| Legal proceedings | No paragraph-level changes | 0 | 0 | 0 | 0 |
| Other information | No paragraph-level changes | 0 | 0 | 0 | 1 |
Counts are paragraphs; added/removed means text added or removed vs the prior filing — no direction or judgement implied.
Not shown (absent or not faithfully extractable): Risk factors
Representative excerpts
Up to 5 excerpts of about 300 characters per section, quoted verbatim from the two SEC filings.
MD&A
Text added vs the prior filing · source: 10-Q · 2026-07-22
Other income (expense), net includes the following ($000’s omitted):
For the six months ended June 30, 2026, Southeast home sale revenues decreased 5% when compared with the prior year period due to a 5% decrease in average selling price partially offset by a slight increase in closings. The decrease in average selling price and increase in closings was mixed among m…
For the second quarter of 2026, Florida home sale revenues increased 1% when compared with the prior year period primarily due to a 1% increase in average selling price partially offset by a slight decrease in closings. The increase in average selling price and decrease in closings occurred across t…
For the second quarter of 2026, Midwest home sale revenues decreased 8% when compared with the prior year period due to an 8% decrease in closings combined with a slight decrease in average selling price. The decrease in closings occurred across the majority of markets while the decrease in average …
For the six months ended June 30, 2026, Midwest home sale revenues decreased 9% when compared with the prior year period due to a 9% decrease in closings partially offset by a slight increase in average selling price. The decrease in closings and the increase in average selling price occurred across…
Text removed vs the prior filing · source: 10-Q · 2026-04-23
Write-offs of deposits and pre-acquisition costs $(4,931)$(4,335)
For the three months ended March 31, 2026, Midwest home sale revenues decreased 9% when compared with the prior year period due to a 10% decrease in closings partially offset by a 1% increase in average selling price. The decrease in closings and increase in average selling price occurred across the…
For the three months ended March 31, 2026, Texas home sale revenues decreased 23% when compared with the prior year period due to a 17% decrease in closings combined with an 8% decrease in average selling price. The decrease in average selling price and the decrease in closings occurred across all m…
We conduct our Financial Services operations, which include mortgage banking, title, and insurance agency operations, through Pulte Mortgage LLC ("Pulte Mortgage") and other subsidiaries. In originating mortgage loans, we initially use our own funds supplemented by funds available pursuant to a cred…
Total Financial Services revenues for the three months ended March 31, 2026 decreased 21% compared with the same period in 2025, reflective of the lower homebuilding volume and lower net gains from the sale of mortgages.
How to read Risk Factors (Item 1A) in a 10-Q
A 10-Q risk-factor section usually takes one of three forms; this page classifies it as one of:
- Pointer — the filer states there have been no material changes and points back to the annual 10-K risk factors; there is no own risk text to compare this quarter.
- Partial update — the filer carves out specific updated risks ("except as set forth below"); the excerpts show exactly what is new this quarter.
- Restated in full — the quarter carries the complete risk-factor text. When the prior quarter was only a pointer there is no prior full text to diff against, so the page flags the section as restated instead.
This describes the filing structure only — it is never a judgement on whether risk went up or down.
Source: text-level diff of the two SEC EDGAR filings · deterministic (no AI-generated content) · for reference only · not investment advice