PulteGroup Inc. (PHM) reported impressive results in the third quarter of 2024, wherein earnings and total revenues handily beat the Zacks Consensus Estimate and grew year over year. The quarter's result reflects the successful execution of the company's balanced spec and build-to-order operating model. This, alongside the structural shortage of homes from years of underbuilding, continued to favor the company. Thanks to such tailwinds, the home closings during the quarter grew year over year resulting in r ...

Q3 2024 Operating & Financial Results October 22, 2024 Forward-Looking Statements This presentation includes "forward-looking statements." These statements are subject to a number of risks, uncertainties and other factors that could cause our actual results, performance, prospects or opportunities, as well as those of the markets we serve or intend to serve, to differ materially from those expressed in, or implied by, these statements. You can identify these statements by the fact that they do not relate to ...

PulteGroup Inc. (NYSE:PHM) Q3 2024 Earnings Conference Call October 22, 2024 8:30 AM ET Company Participants James Zeumer - Vice President, Investor Relations Ryan Marshall - President and Chief Executive Officer Robert O'Shaughnessy - Executive Vice President and Chief Financial Officer Conference Call Participants John Lovallo - UBS Alan Ratner - Zelman & Associates Stephen Kim - Evercore ISI Anthony Pettinari - Citi Michael Rehaut - JPMorgan Michael Dahl - RBC Capital Markets Carl Reichardt - BTIG Trevor ...

For the quarter ended September 2024, PulteGroup (PHM) reported revenue of $4.48 billion, up 11.8% over the same period last year. EPS came in at $3.35, compared to $2.90 in the year-ago quarter. The reported revenue represents a surprise of +5.13% over the Zacks Consensus Estimate of $4.26 billion. With the consensus EPS estimate being $3.10, the EPS surprise was +8.06%. While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine th ...

PulteGroup (PHM) came out with quarterly earnings of $3.35 per share, beating the Zacks Consensus Estimate of $3.10 per share. This compares to earnings of $2.90 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 8.06%. A quarter ago, it was expected that this homebuilder would post earnings of $3.21 per share when it actually produced earnings of $3.58, delivering a surprise of 11.53%.Over the last four quarters, the company has ...

Financial Performance - Earnings increased 16% to $3.35 per share compared to $2.90 per share in the prior year period[1] - Net income for the nine months ended September 30, 2024, was $2,170,023, an increase of 14.8% compared to $1,891,379 for the same period in 2023[15] - Home sale revenues for the three months ended September 30, 2024, reached $4,343,227, up 11.7% from $3,886,908 in the same period of 2023[17] - Total Homebuilding revenues for the nine months ended September 30, 2024, were $12,707,308, representing a 10.1% increase from $11,541,051 in the prior year[17] - Financial services operations generated pre-tax income of $55 million, a 90% increase from $29 million in the prior year[4] Home Sales and Orders - Home sale revenues rose 12% to $4.3 billion, driven by a 12% increase in closings to 7,924 homes[3] - Net new orders totaled 7,031 homes valued at $3.9 billion, reflecting a 3% increase over the previous year[3] - The average selling price of homes closed was $548,000, effectively unchanged from the prior year[3] - The average selling price for homes sold in the three months ended September 30, 2024, was $548,000, slightly down from $549,000 in the same period of 2023[19] Backlog and Inventory - The unit backlog at the end of the quarter was 12,089 homes with a total value of $7.7 billion[4] - The unit backlog at the end of September 2024 was 12,089 units, down from 13,547 units at the end of September 2023[19] Cash and Debt Management - The company ended the quarter with $1.5 billion in cash and a debt-to-capital ratio of 12.3%[5] - Cash provided by operating activities for the nine months ended September 30, 2024, was $1,113,184, a decrease from $1,908,344 in the same period of 2023[15] - Cash, cash equivalents, and restricted cash at the end of the period were $1,455,136, down from $1,899,561 at the end of September 30, 2023[15] - The company reported a net cash used in financing activities of $1,398,875 for the nine months ended September 30, 2024, compared to $1,008,305 in the same period of 2023[15] - As of September 30, 2024, the debt-to-capital ratio is 12.3%, down from 15.9% on December 31, 2023[25] - Total net debt as of September 30, 2024, is $168,550, compared to $113,041 on December 31, 2023[25] - Total capital increased to $13,187,899 as of September 30, 2024, from $12,345,475 on December 31, 2023[25] - Shareholders' equity rose to $11,564,213 as of September 30, 2024, up from $10,383,257 on December 31, 2023[25] - Total cash, cash equivalents, and restricted cash decreased to $1,455,136 as of September 30, 2024, from $1,849,177 on December 31, 2023[25] Mortgage Operations - Mortgage origination volume for the three months ended September 30, 2024, was 5,005 units, compared to 4,362 units in the same period of 2023, reflecting a 14.7% increase[21] - The capture rate for mortgage originations improved to 86.7% in the three months ended September 30, 2024, up from 83.5% in the same period of 2023[21] Non-GAAP Financial Measures - The company believes that its non-GAAP financial measures provide relevant information for evaluating profitability and liquidity[24] - The company uses debt-to-capital and net debt-to-capital ratios as indicators of overall leverage[24] - The report includes a reconciliation of non-GAAP financial measures related to debt-to-capital ratios[24] - The company emphasizes the importance of understanding the methods used by other companies in the homebuilding industry for calculating debt-to-capital ratios[24]

PulteGroup Inc. (PHM) is scheduled to report third-quarter 2024 results on Oct. 22, before the opening bell.Stay up-to-date with all quarterly releases: See Zacks Earnings Calendar.In the second quarter of 2024, earnings and revenues handily beat the Zacks Consensus Estimate by 11.5% and 2.7%, respectively. PulteGroup’s balanced operating model resulted in increases in closings, average sales price, and gross margin, which collectively led to a 19.3% increase in earnings per share (EPS).Strong cash flows pr ...

Wall Street analysts forecast that PulteGroup (PHM) will report quarterly earnings of $3.10 per share in its upcoming release, pointing to a year-over-year increase of 6.9%. It is anticipated that revenues will amount to $4.26 billion, exhibiting an increase of 6.4% compared to the year-ago quarter.The current level reflects no revision in the consensus EPS estimate for the quarter over the past 30 days. This demonstrates how the analysts covering the stock have collectively reappraised their initial projec ...

In the latest market close, PulteGroup (PHM) reached $144.62, with a +1.46% movement compared to the previous day. This move outpaced the S&P 500's daily loss of 0.76%. Elsewhere, the Dow lost 0.75%, while the tech-heavy Nasdaq lost 1.01%.Heading into today, shares of the homebuilder had gained 1.77% over the past month, lagging the Construction sector's gain of 2.69% and the S&P 500's gain of 4.31% in that time.The upcoming earnings release of PulteGroup will be of great interest to investors. The company' ...

PulteGroup, Inc. (PHM) stock is currently trading at a discount relative to the Zacks Building Products - Home Builders industry. With a forward 12-month Price/Earnings ratio of 10.31x, it sits well below the industry average of 11.06x and the broader Construction sector’s 18.06x. PHM stock also has a Value Score of A.Over the past three months, PHM stock surged 32.5%, outpacing the industry’s 29.9% growth and the Zacks S&P 500 Composite's 2.5% gain.PHM is currently trading at only a 4.4% discount to its 52 ...