PulteGroup Q1 net income +28% to $2.35 EPS; authorizes $1B share repurchase increase

PULTEGROUP INC/MI/

2023-Q1 EPS reported $2.35 revenue$3,575,641,000

Net income $532M ($2.35 EPS) vs. $455M ($1.83 EPS) in prior year; EPS up 28%.
Home sale revenues $3.5B (+15% YoY); closings 6,394 (+6%); avg price $545,000 (+9%).
Home sale gross margin 29.1% (vs. 29.3%); operating margin 19.5% (vs. 18.5%).
Net new orders 7,354 homes (-8%), backlog $8.0B at quarter-end.
Board approved $1.0B increase in share repurchase authorization; total now $1.2B.

item 2.02 item 8.01 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

PULTEGROUP INC/MI/ reported first quarter ended March 31, 2023 results: revenue $3.5 billion, net income $532 million, EPS $2.35 per share.

Period: first quarter ended March 31, 2023
Revenue: $3.5 billion
Net income: $532 million
EPS: $2.35 per share
Result: reported results

Exact text from the filing

PULTEGROUP, INC. REPORTS FIRST QUARTER 2023 FINANCIAL RESULTS • Net Income Increased 28% to $2.35 Per Share • Home Sale Revenues Increased 15% to $3.5 Billion

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Source: SEC EDGAR

accession 0000822416-23-000014

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