PulteGroup Reports Q4 Revenue Miss
PulteGroup Reports Q4 Revenue Miss

PulteGroup Reports Q4 Revenue Miss

Jan. 30, 2024, 9:15 a.m., readers: 11

PulteGroup (NYSE:PHM) released its fourth-quarter results, with revenues falling short of Wall Street's expectations. The company reported its fourth-quarter earnings per share (EPS) at $3.28, a decrease from the $3.85 reported in the same period last year but higher than the consensus estimates of $3.21. However, PulteGroup's revenue for the quarter was $4.29 billion, a 17% decline year-over-year and below analysts' expectations of $4.48 billion. In terms of home closures, PulteGroup completed 7,615 homes in the quarter, marking a 14% decrease from the previous year and falling short of the anticipated 8,026. On a positive note, net new orders saw a significant increase of 57% year-over-year to 6,214, surpassing Wall Street's estimates of 5,675. Additionally, the company's home sale gross margin declined slightly to 28.9% in the fourth quarter, compared to 29.4% in the same quarter the previous year.


About NYSE: PHM

P ulteGroup, Inc., through its subsidiaries, primarily engages in the homebuilding business in the United States. It acquires and develops land primarily for residential purposes; and constructs housing on such land. The company also offers various home designs, including single-family detached, townhomes, condominiums, and duplexes under the Centex, Pulte Homes, Del Webb, DiVosta Homes, American West, and John Wieland Homes and Neighborhoods brand names.

Price: 105.89
Market cap: 22.5 billion USD
Eps: 11.72
P/e ratio: 9.03
Terminal Research: PHM