Thu, Apr. 23, 7:42 AM
- Q1 net income of $55M or $0.15 per share vs. $75M and $0.19 a year ago.
- Home sales revenue of $1.1B as closings decline 2% to 3,365 homes, and ASP rises 2% to $323K.
- Net new orders of 5,139 homes up 6% in units, up 6% in value.
- Community count of 613 up 5%.
- Gross margin of 22.7% down 110 basis points.
- Backlogs of 7,624 homes up 6%. ASP in backlog of $336K is flat from a year ago.
- Repurchased 4.6M shares during quarter at average price of $21.75 each for total of $100M.
- Conference call at 8:30 ET
- Previously: PulteGroup misses by $0.05, misses on revenue (April 23)
- PHM -7.8% premarket
Thu, Apr. 23, 6:38 AM
Thu, Jan. 29, 7:33 AM
- Q4 net income of $217M or $0.58 per share vs. $220M and $0.57 one year ago.
- Closings of 5,316 up 7% Y/Y, with ASP of $334K up 3%.
- Gross margin of 23.1% off 10 basis points.
- Net new orders of 3,232 up 1%, with dollar value of net new orders up 2% to $1.1B. Active communities of 598 up 4%.
- Backlog of 5,850 homes valued at $1.9M vs. $5,772 and $1.9B a year ago.
- Financial services operations pretax income of $13M up 88%.
- 5.2M shares repurchased during Q for $98M, or $18.87 each.
- Conference call at 8:30 ET
- Previously: PulteGroup beats by $0.18, beats on revenue (Jan. 29)
- PHM +0.8% premarket
Thu, Jan. 29, 6:37 AM
Wed, Jan. 28, 5:30 PM
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Thu, Jan. 15, 11:31 AM
- The company earlier reported bottom-line results which beat estimates, but the top line slightly missed.
- FQ4 (ending Nov. 30) deliveries of 6,950 homes gained 23% from a year ago. New orders of 5,492 homes up 22%, up 24% in dollar terms. ASP of $329K vs. $307K a year ago. Incentives of 23.1K per home, or 6.6% of home sales revenue vs. $20.6K and 6.3% a year ago.
- Backlogs of 5,832 homes up 21%, up 22% in dollar terms.
- Gross margins of 25.6% fell 120 basis points from a year ago. Operating margin of 16% down 90 bps.
- Like KB Home earlier this week, Lennar (LEN -4%) warns of lower gross margins for fiscal 2015.
- ITB -2.9%, XHB -2.2%
- Toll Brothers (TOL -2.7%), Hovnanian (HOV -5.3%), D.R. Horton (DHI -4.9%), Ryland (RYL -4.7%), KB Home (KBH -5.5%), Pulte (PHM -4.3%) M.D.C. Holdings (MDC -5.9%), NVR (NVR -2.5%), Standard Pacific (SPF -3.2%)
- Previously: Lennar beats by $0.11, misses on revenue (Jan. 15)
Dec. 29, 2014, 8:33 AM
Oct. 23, 2014, 10:16 AM
- Q3 pretax income of $225M up 29% Y/Y. Net income of $141M or $0.37 per share.
- Home sales revenues of $1.6B up 4% Y/Y, with ASP up 8% to $334K and closing lower by 4% to 4,646 homes.
- Net new orders of 3,779 comparable to year-ago. On a dollar-basis, signup value of $1.3B up 3%. Backlog of 7,934 homes valued at $2.6B vs. 7,522 homes valued at $2.4B a year ago.
- Quarterly dividend is increased by 60% to $0.08 per share. Buyback authorization is boosted by $750M; company had $85M remaining under previous plan.
- $2.4B authorized for land investment in 2015, an increase of $600-$700M over expected 2014 expenditures.
- Previously: PulteGroup beats by $0.01, revenue in-line
- PHM -1.2%
Oct. 23, 2014, 6:44 AM
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, 6:42 AM
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
- Source: Press Release
Apr. 24, 2014, 6:33 AM
Jan. 30, 2014, 7:33 AM
- PulteGroup (PHM) zips up 5% premarket after easily beating bottom line estimates as higher prices (and margins) offset a slowing sales pace. Expecting the housing recovery to continue this year, the company boosts its authorization for land spend to $2B this year.
- More on operations: Home sale revenues of $1.6B up 9% Y/Y as closings fell 4% to 4,964 homes. Adjusted gross margin of 27.7% Is up 590 basis points from a year ago.
- 3,214 net new orders, off 18% from a year ago. Dollar value of $1.1B compares to $1.2B a year ago.
- Backlog of 5,772 homes valued at $1.9B compares to 6,458 homes and $1.9B last year.
- 2M shares repurchased for $35M. Ending year cash balance of $1.7B and debt-to-capitalization ratio of 31% is off from 53% a year ago.
- CC at 8:30 ET
- Press release, Q4 results
Jan. 30, 2014, 6:32 AM| Comment!
Jan. 30, 2014, 12:05 AM
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PulteGroup Inc is engaged in homebuilding business. Its business includes the acquisition and development of land for residential purposes within the U.S. It is also engaged in mortgaging banking operations.
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