Pultegroup Inc (PHM) News & EventsPHMPultegroup Inc

PulteGroup Reports Q3 Revenue of $3.97B, Below Expectations

Reports Q3 revenue $3.97B, consensus $4.15B. "With homebuying demand increasingly pressured by rising mortgage rates, widespread inflation, and global unrest, we continue to benefit from our diversified operating platform and consistent strategies for delivering superior returns over the housing cycle," said PulteGroup President and CEO, Ryan Marshall. "With more than 60% of our business now comprised of more profitable move-up and active-adult homebuyers, our strong gross margins were instrumental to driving third quarter earnings of $2.53 per share. The rapid increase in interest rates has stretched affordability even further, made selling an existing home even harder, and has pushed even more consumers to the sidelines," added Mr. Marshall. "Within this environment, we continue to appropriately balance the price and pace of home sales, align production accordingly, and remain disciplined in our allocation of capital."

Home Sales Gross Margin at 24.8%, Unit Backlog Rises to 10,298 Homes

Reports closing 6,876 homes. Home sales gross margin 24.8%. Unit backlog up 4% to 10,298 homes. Backlog value increased 3% to $6.4 B.

PulteGroup Launches Explore by Del Webb in Utah

PulteGroup is bringing Explore by Del Webb to Utah's Jordanelle Ridge. "Having grown up in Utah, it's hard for me to imagine a more incredible setting for our Explore by Del Webb brand than Jordanelle Ridge," said Ryan Marshall, President and Chief Executive Officer of PulteGroup. "With the Wasatch Mountains as the backdrop and Park City just minutes away, this is a place where outdoor recreation, wellness, and thoughtfully designed homes and amenities can truly become part of everyday life."