PulteGroup(US:PHM)2025-04-22 16:29Financial Performance - Net income was $523 million, or $2.57 per share[11] - Home sale revenues decreased by 2% to $3.7 billion[17] - Gross margin was 27.5%, a decrease of 210 bps from the previous year's 29.6%[22] - SG&A expense was $393 million, representing 10.5% of home sale revenues[22] Sales and Orders - Closings decreased by 7% year-over-year to 6,583 homes[17] - Net new orders decreased by 7% from the prior year to 7,765 homes[28] - The quarter-end backlog was 11,335 homes with a value of $7.2 billion[28] Land and Investment - Approximately 244,000 lots were under control, with 59% held under option[32] - $1.2 billion was invested in land acquisition and development, with 52% allocated to developing existing land assets[32] - The company anticipates investing approximately $5.0 billion in land acquisition and development in 2025[32] Capital Allocation - $300 million of common shares were repurchased in Q1, with 2.8 million shares repurchased at an average price of $108.03[38] - The company had $1.9 billion remaining under the current share repurchase authorization at the end of the quarter[38] - The debt-to-capital ratio was 11.7%[38] Guidance - The company expects community count to be up 3%-5% in Q3 & Q4[12]