Company Overview - PulteGroup, Inc. (PHM) is a homebuilding company based in Atlanta, Georgia, with a market cap of $27.4 billion. The company engages in selling and constructing homes, developing residential land, and providing mortgage financing and title insurance services to home buyers [1]. Stock Performance - PHM shares have outperformed the broader market over the past year, gaining 33.6% compared to the S&P 500 Index's increase of 11.8%. Year-to-date, PHM stock is up 21.6%, while the S&P 500 has experienced a slight decline [2]. - Compared to the SPDR S&P Homebuilders ETF (XHB), which gained about 14.5% over the past year, PHM's year-to-date gains also surpass the ETF's 17.9% returns [3]. Market Demand and Strategy - PulteGroup's strong performance is attributed to high demand in the Midwest, Northeast, and Florida, which has offset weaknesses in Texas and Western markets. The company's Del Webb communities have seen increased active adult sign-ups, contributing to higher gross margins [3]. - To address softer demand, PulteGroup has increased sales incentives and is shifting towards built-to-order homes. Management expresses optimism for the spring 2026 selling season due to improved affordability and lower mortgage rates [3]. Financial Results - In Q4, PulteGroup reported an adjusted EPS of $2.88, exceeding Wall Street expectations of $2.78. The company's revenue reached $4.6 billion, surpassing forecasts of $4.3 billion [4]. - For the current fiscal year ending in December, analysts project an 11.6% decline in EPS to $10.11 on a diluted basis. PulteGroup has a strong earnings surprise history, beating consensus estimates in each of the last four quarters [4]. Analyst Ratings - Among 17 analysts covering PHM stock, the consensus rating is a "Moderate Buy," consisting of eight "Strong Buy" ratings, one "Moderate Buy," seven "Holds," and one "Strong Sell" [5]. - The current analyst configuration is more bullish than two months ago, with seven analysts now suggesting a "Strong Buy" [6].