PulteGroup Inc

PHM

Equity

ISIN US7458671010 / Valor 90044

New York Stock Exchange, Inc (2024-12-26)

USD 110.65-0.09%

PulteGroup Inc
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About company

PulteGroup Inc, founded in 1950 by Bill Pulte, has grown from a single home construction to become the third largest homebuilder in the United States, with operations spanning over 40 major cities. The company has a strategic focus on achieving high returns on invested capital and equity throughout the housing cycle, a principle that has positioned it among the leaders in the homebuilding industry based on key operating and financial metrics. Over the years, PulteGroup has delivered almost 750,000 homes, catering to a diverse range of customer needs through its portfolio of brands including Pulte, Centex, Del Webb, DiVosta, American West, and John Wieland Homes and Neighborhoods. These brands allow PulteGroup to serve first-time buyers, those looking to move up, and active-adult homebuyers, showcasing the company's adaptability and commitment to meeting the evolving demands of the housing market.

Summarized from source with an LLMView SourceSector: Industrials

Income Growth

PulteGroup Inc. reported a significant increase in net income for the third quarter of 2024, reaching $698 million, or $3.35 per share. This marks a 16% increase compared to the prior year's net income of $639 million, or $2.90 per share. The growth in earnings per share highlights the company's strong financial performance during this period.

Revenue and Closings

For the third quarter of 2024, PulteGroup Inc. achieved record home sale revenues of $4.3 billion, representing a 12% increase over the previous year. This growth was driven by a 12% rise in home closings, totaling 7,924 homes. The average selling price of homes remained stable at $548,000.

Order Backlog

PulteGroup Inc. reported a robust backlog at the end of the third quarter of 2024, with 12,089 homes valued at $7.7 billion. The company's net new orders for the quarter totaled 7,031 homes, with a value of $3.9 billion, reflecting a 3% increase in order value compared to the previous year.

Share Repurchase

During the third quarter of 2024, PulteGroup Inc. repurchased 2.5 million of its common shares for $320 million, at an average price of $126.05 per share. This is part of the company's ongoing strategy to return value to shareholders, with a total of 7.6 million shares repurchased in the first nine months of the year.

Financial Services Performance

PulteGroup Inc.'s financial services operations reported a pre-tax income of $55 million for the third quarter of 2024, marking a 90% increase from the previous year's pre-tax income of $29 million. This improvement is attributed to higher volumes in homebuilding operations and a favorable operating environment.

Summarized from source with an LLMView Source

Key figures

7.24%1Y

102%3Y

184%5Y

Performance

31.0%1Y

35.7%3Y

43.2%5Y

Volatility