PulteGroup (PHM) Risk Factor Changes

If our computer systems and our back-up systems are damaged, breached, or cease to function properly, or if there are intrusions or failures of critical infrastructure such as the power grid or communications systems,…

While to our knowledge we have not experienced a significant cybersecurity incident that has materially affected our business strategy, results of operations or financial condition in the last three years, and we are…

which time inherently riskier loan products became more common in the origination market.

Our mortgage operations may be responsible for losses arising out of claims associated with mortgage loans originated and sold to investors in the event of errors or omissions relating to certain representations and w…

We sell substantially all of the residential mortgage loans we originate within a short period in the secondary mortgage market.

As of December 31, 2025, we had deferred tax assets of $70.6 million, against which we provided a valuation allowance of $21.4 million.

The capital and credit markets can experience significant volatility.

We also are subject to a variety of local, state, and federal laws and regulations concerning protection of health, safety, and the environment, including laws and regulations governing the disclosure of certain infor…

Our operations are subject to building, safety, environmental, and other regulations imposed and enforced by various federal, state, and local governing authorities.

Our development, integration, and use of artificial intelligence (“AI”) technology in our operations remains in the early phases.

Supply shortages and other risks related to the demand for skilled labor and building materials could increase costs and delay deliveries.

Inflation can adversely affect us by increasing costs of land, materials, and labor.

For example, beginning in 2006 and continuing through 2011, the U.S.

Any epidemic, pandemic, or similar serious public health issue, and the measures undertaken by governmental authorities to address it, could significantly disrupt or prevent us from operating our business in the ordin…

Our business was materially and adversely disrupted by the outbreak and worldwide spread of COVID-19 and could be materially and adversely disrupted by another epidemic or pandemic like COVID-19, or similar public thr…

monitoring to prevent, detect, contain, address, and mitigate the risk of unauthorized access, misuse, computer viruses, and other events that could have an impact on our business, there is no assurance that advances…

indemnify underwriters that purchased and securitized loans originated by a former subsidiary of Centex Corporation

majority of these claims made by investors against our mortgage operations relate to loans originated prior to 2009, during

us to deploy substantial amounts of our own funds, could delay the time when we recognize revenues from home sales on our statements of operations.

Our ability to utilize net operating losses (“NOLs”) and other tax attributes to offset our future taxable income or income tax would be limited if we were to undergo an “ownership change” within the meaning of Sectio…

As of December 31, 2024, we had deferred tax assets of $77.4 million, against which we provided a valuation allowance of $22.4 million.

We also are subject to a variety of local, state, and federal laws and regulations concerning protection of health, safety, and the environment, including laws and regulations relating to the disclosure of certain inf…

The extent to which future public health emergencies may affect our business will depend on a number of factors, including the duration and severity of the outbreak, the timing and effectiveness of containment measure…

Any epidemic, pandemic, or similar public health issue, including events like COVID-19, and the related governmental, regulatory, or private sector responses could adversely affect our operations, supply chain, workfo…

Our business could be materially and adversely disrupted by the outbreak and spread of contagious diseases, including epidemics, pandemics, or other serious public health threats, such as the COVID-19 pandemic, as wel…

Our business could be materially and adversely affected by epidemics, pandemics, or other public health emergencies.

issues.

Across various regions in which we operate, costs associated with homeowner, hazard, and flood insurance have increased in recent years, driven in part by the increasing frequency and severity of weather‑related losses.

homes may raise our costs for these items or for the products made with them.