Orders — a key indicator for builders, who do not book revenue until they finish a house — fell to 4,885 homes in the quarter ended June. Order signup value fell 5 percent to $1.5 billion, compared with a year earlier.
Net income fell to $36.4 million, or 9 cents per share, from $42.4 million, or 11 cents per share, a year earlier.
Excluding a 17 cents per share charge related to a contractual dispute, debt repurchase and corporate relocation, Pulte earned 26 cents per share - 4 cents below the average analyst estimate, according to Thomson Reuters.
Home sale revenue increased 19 percent to $1.22 billion.
Selling, general and administrative and other expenses rose to $207.9 million in the quarter from $134.7 million.
DR Horton profit beats
Homebuilder D.R. Horton reported a better-than-expected profit as it sold more homes at higher prices in quarter ended June.
Demand for homes has remained strong despite a recent rise in mortgage rates as a shortage of homes available for sale has enabled builders to raise prices.
D.R. Horton, which sells homes priced between $100,000 and $600,000, said average selling price rose 15 percent in the third quarter.
Orders a key indicator for builders, who do not book revenue until they finish a house rose 12 percent to 6,822 homes.
Net income fell to $146 million, or 42 cents per share, from $787.8 million, or $2.22 per share, a year earlier.
Analysts on average had expected earnings of 34 cents per share, according to Thomson Reuters.
The year-ago quarter included a $716.7 million tax benefit.
Third-quarter homebuilding revenue rose 47 percent to $1.64 billion.