More on PulteGroup (PHM) Q4: net profit quadruples to $58.7M as revenue jumps 25% amid a...

|By:, SA News Editor

More on PulteGroup (PHM) Q4: net profit quadruples to $58.7M as revenue jumps 25% amid a recovery in the real-estate market. Net new orders +27% to 3,926 homes, backlog +82% to $1.9B. Expects continued rebound in housing market in 2013, "driven by record low interest rates, higher rent vs own costs, rising home prices and sharply lower overall housing inventory." Increases investment in land spend and development by $250M/year for 2013-2014 to $1.2B. Shares -2.6%. (PR)