PulteGroup, Inc. (PHM) - NYSE
  • Jul. 24, 2014, 7:45 AM
    • PulteGroup (NYSE:PHM) reported that Q2 revenue increased 2.2% to $1.2B due to a 12% increase of average home selling price to $328K.
    • Net income climbed 15% Y/Y to $41.9M, or $0.11 per share, from $36.4M, or $0.09 cents per share - a year earlier.
    • Orders fell 2.2% to 4,778 homes from 4,885.
    • Gross margin of 23.6% expanded by 480 bps over the prior year.
    • Q2 earnings
    | Jul. 24, 2014, 7:45 AM
  • Jul. 24, 2014, 6:42 AM
    • PulteGroup (NYSE:PHM): Q2 EPS of $0.25 in-line.
    • Revenue of $1.29B (+0.8% Y/Y) misses by $50M.
    | Jul. 24, 2014, 6:42 AM
  • Jun. 24, 2014, 10:09 AM
    • May's adjusted annual pace of 504K new home sales is the fastest print in six years. The number is 18.6% above April's pace and 16.9% higher than a year ago. The supply of new homes on the market at the current sales pace dropped to 4.5 months worth from 5.3 months in April.
    • Sales in the Northeast jumped to 34K from 22K in April, and those in the West to 130K from 97K.
    • Full report
    • Homebuilder ETFs: ITB +1.2%, XHB +0.7%.
    • Toll Bros. (TOL +1.2%), Lennar (LEN +1.4%), D.R. Horton (DHI +1.7%), KB Home (KBH +1.7%), Hovnanian (HOV +1.3%), PulteGroup (PHM +1.3%)
    • Previously: New home sales soar past estimates
    | Jun. 24, 2014, 10:09 AM | 16 Comments
  • Jun. 20, 2014, 10:38 AM
    • The averages are nudging higher, but not the homebuilder names after Owens Corning cuts 2014 guidance on continued weakness in its roofing business.
    • Soft action in Q1 continued through April and May, says the company, which now sees H1 roofing volumes as much as 20% lower than 2013. Owens still expects H2 to be better, but is less confident of that forecast today than it was a few months ago.
    • ETFs: ITB -1.3%, XHB -1.2%
    • Toll Bros. (TOL -1.6%),  TriPointe Homes (TPH -1.3%), Lennar (LEN -1.6%), Ryland (RYL -1.8%), Hovnanian (HOV -0.9%), PulteGroup (PHM -1.2%), D.R. Horton (DHI -0.8%), Standard Pacific (SPF -1.8%)
    | Jun. 20, 2014, 10:38 AM | 10 Comments
  • May 28, 2014, 3:01 PM
    • Jay McCanless and Annie Worthman at Sterne Agee say without the benefit of a lower tax rate other non-operating boosts, Toll Brothers (TOL +2.1%) would have missed the team's EPS estimate of $0.31 per share. They continue to rate the stock an Underperform with $28 price target.
    • The bullish team at MKM Partners note Toll "essentially raised" guidance by boosting the low end of its average expected sale price this year to $690K from $675K. "Given the company’s long build cycle, we suspect that the higher guidance is likely more of a statement on the anticipated mix of closings rather than a signal that prices are being raised more aggressively."
    • Amid the big gain by Toll and sharply lower interest rates, some other builders: Hovnanian (HOV +1.7%), Beazer Homes (BZH +1.4%), KB Home (KBH +0.8%), Lennar (LEN +0.2%), PulteGroup (PHM), D.R. Horton (DHI +1.2%).
    • ETFs: XHB, ITB, PKB
    • Previously: High home prices boost Toll results
    • Previously: Toll Brothers beats by $0.09, beats on revenue
    | May 28, 2014, 3:01 PM | 1 Comment
  • May 7, 2014, 3:15 PM
    • PulteGroup, Inc. (PHM) declares $0.05/share quarterly dividend, in line with previous.
    • Forward yield 1.10%
    • Payable July 2; for shareholders of record June 19; ex-div June 17.
    | May 7, 2014, 3:15 PM
  • Apr. 25, 2014, 4:43 AM
    • The amount that lenders originated in mortgage loans plunged 58% on year Q1 to a 14-year low of $235B, almost entirely due to drop in refinancing. The figures are from industry newsletter Inside Mortgage Finance.
    • Loans for acquisitions were flat on year and lower than in Q4.
    • The trend is the latest indication that increasing interest rates are hampering the housing recovery. The average 30-year fixed-rate mortgage was 4.5% last week, up from 3.6% in May last year, when rates spiked after the Fed indicated it would scale back its QE program.
    • Tickers: DHI, PHM, RYL, MHO, NVR, LEN, SPF, MDC, HOV, TOL ORI, NLY, AGNC, MTGE, ARR, TWO, IVR, CMO, MFA, WMC, FMCC, FNMA, RDN, NMIH, ESNT, GNW
    • ETFs/ETNs: ITB, XHB, MORT, MORL, REM, MORT, MORT
    | Apr. 25, 2014, 4:43 AM | 9 Comments
  • Apr. 24, 2014, 8:58 AM
    • Net income of $75M or $0.19 per share falls from $82M or $0.21 per share thanks to this year's Q1 tax rate of 42% - higher than expected as the result of deferred tax expense associated with changes in certain state income taxes.
    • Home sale revenue of $1.1B about flat from a year ago, with a 10% increase in selling price to $317K offsetting a 10% decline in closings to 3,436 homes. Gross margin of 23.8% up 580 bps. SG&A expense of $144M of 13.3% of sales vs. $129M or 11.8% of sales.
    • Net new orders of 4,863 homes down 6% Y/Y. Dollar value of new orders of $1.6B up 2%. Backlog of 7,199 homes valued at $2.4B vs. 7,825 homes valued at $2.4B.
    • Financial services operations pretax income of $22M up from $14M one year ago.
    • 2.2M shares repurchased during Q at average price of $19.95 per share.
    • "We are pleased with the start of the spring selling season, as absorption paces per community improved from year ago levels and demand accelerated through the quarter."
    • CC is going on right now.
    • PHM +3.4% premarket
    • Previously: PulteGroup misses by $0.01, misses on revenue
    | Apr. 24, 2014, 8:58 AM
  • Apr. 24, 2014, 6:33 AM
    • PulteGroup (PHM): Q1 EPS of $0.19 misses by $0.01.
    • Revenue of $1.12B (-3.4% Y/Y) misses by $60M.
    | Apr. 24, 2014, 6:33 AM | 2 Comments
  • Apr. 23, 2014, 10:19 AM
    • The seasonally adjusted new home sales pace of 384K in March is 14.5% below that of February and 13.3% lower than a year ago. It's the slowest pace since July, and 14.5% is the 3rd-largest decline in 20 years. The median sales price of $290K is up 12.6% Y/Y. The supply of new homes on the market is 6 months at the current sales pace, up from 5 months in February.
    • Homebuilder ETFs: ITB -1.7%, XHB -1.2%.
    • Toll Brothers (TOL -1.6%), Lennar (LEN -1.9%), Hovnanian (HOV -1.5%), Pulte (PHM -1.6%), KB Home (KBH -3.3%), Beazer (BZH -2.4%), Ryland (RYL -2.6%)
    • The 10-year Treasury yield dips two basis points to 2.69%. TLT +0.4%, TBT -0.8%
    • Full report
    | Apr. 23, 2014, 10:19 AM | 19 Comments
  • Mar. 14, 2014, 8:23 AM
    • It's about lackluster demand and declining gross margins, says Credit Suisse analyst Daniel Oppenheim, pointing to his firm's monthly "buyer traffic index" survey. It fell two points in February at 36 and compares to a read of 65 in February 2013 and 62 a year before that. The 36 print is the lowest since February 2009 and missed expectations for 50.
    • "We expect the stocks to reflect these observations as macro housing data and homebuilder orders and gross margins come in short of expectations."
    • Wednesday: Credit Suisse pulls Buy ratings on Toll Brothers (TOL), PulteGroup (PHM), and William Lyons (WLH).
    • Monday: More downgrades
    • ETFs: XHB, ITB
    | Mar. 14, 2014, 8:23 AM
  • Mar. 12, 2014, 7:21 AM
    • Three more downgrades hit the homebuilders, with Toll Brothers (TOL), PulteGroup (PHM), and William Lyons (WLH) being cut from Buy to Hold at Credit Suisse. At the moment, a combination of higher mortgage rates and higher home prices has the Street worried about the sector.
    • On Monday a different set of homebuilders suffered three downgrades at the hands of BAML and Citigroup.
    • TOL -1.5% premarket
    • ETFs: XHB, ITB
    | Mar. 12, 2014, 7:21 AM
  • Mar. 5, 2014, 10:46 AM
    • A check of the homebuilders following Hovnanian's big earnings miss and slowdown in closings (HOV now down 6.6%): NVR (NVR -1.5%), D.R. Horton (DHI -1.1%), KB Home (KBH -1.8%), Pulte (PHM -0.8%), Ryland (RYL -1.5%), Toll Bros. (TOL -0.3%), Lennar (LEN -1%).
    • So what's the SPDR Homebuilders ETF (XHB +0.1%) doing in the green? The ETF has a heavy weighting to those tangential to the homebuilding industry - retail home improvement, building suppliers. More of a pure-play homebuilder fund is the iShares U.S. Home Construction ETF (ITB -0.8%).
    | Mar. 5, 2014, 10:46 AM | 5 Comments
  • Mar. 4, 2014, 10:54 AM
    • Home prices rose 0.9% in January from the previous month and 12% from a year ago, according to CoreLogic, the 23rd consecutive month of Y/Y increases. Excluding distressed sales, home prices rose 9.8% from last year.
    • The group's pending indicator shows prices are set to rise 0.7% in February and 12.5% from a year ago. Chief economist Mark Fleming: "The last time January month-over-month and year-over-year price appreciation was this strong was at the height of the housing bubble in 2006."
    • A check of the homebuilders: XHB +1.3%, ITB +1.3%.
    • In other news, KeyCorp cashes in on Lennar (LEN), cutting the stock to Hold from Buy, and boosts PulteGroup (PHM +0.6%) to a Buy from Hold.
    | Mar. 4, 2014, 10:54 AM
  • Feb. 26, 2014, 10:34 AM
    • Brutal winter weather has been the excuse for a long string of weak economic stats this year, but not January New Home Sales, which surged 9.6% from December to a seasonally adjusted annualized pace of 468K - a 5-year high. Expectations were for a drop to 400K. December sales were revised higher from 414K to 427K.
    • The median sales price rose 3.4% Y/Y to $260,100.
    • The Northeast led the way with a 73.7 jump. Sales climbed 11% in the West, and 10.4% in the South. In the MidWest, they dropped 17.2%.
    • Full report
    • The homebuilders cheer. ETFs: XHB +1.9%, ITB +2.2%. Individual names: TOL +1.8%, HOV +2%, RYL +2.9%, KBH +2.5%, LEN +2.7%, PHM +2.3%.
    | Feb. 26, 2014, 10:34 AM | 10 Comments
  • Feb. 5, 2014, 2:59 PM
    • PulteGroup, Inc. (PHM) declares $0.05/share quarterly dividend, in line with previous.
    • Forward yield 1.03%
    • Payable April 2; for shareholders of record March 11; ex-div March 7.
    | Feb. 5, 2014, 2:59 PM
Company Description
PulteGroup, Inc. is engaged in the homebuilding business. It is also engaged in the mortgage banking and title operations. The company's homebuilding business includes the acquisition and development of land primarily for residential purposes within the U.S. and the construction of housing on... More
Industry: Residential Construction
Country: United States