The company said demand conditions further weakened in Q3 2026, with closings down 9% in Q3, average selling prices down 1%, and net new orders in units down 6%.

1. 01

   The company said demand conditions further weakened in Q3 2026, with closings down 9% in Q3, average selling prices down 1%, and net new orders in units down 6%.

2. 02

   The company said home sale gross margin for Q3 was 24.8%, down from 26.2% a year earlier, and was 24.7% versus 26.9% over 9 months. It cited elevated sales incentives and other pricing actions, along with higher land acquisition and development costs, as factors.

3. 03

   The company said net cash provided by operating activities in the first 9 months of 2026 was $637.0 million, driven by net income of $1.3 billion and a net decrease in residential mortgage loans available-for-sale of $179.7 million, partially offset by a net increase in inventories of $1.1 billion.

4. 04

   The company said it repurchased 8.4 million shares for $1.0 billion in the 9 months of 2026 and declared cash dividends of $148.1 million. It said the remaining repurchase authorization was $1.5 billion as of September 30, 2026.

Analysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

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AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

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