PulteGroup Q2 net income $3.21/share; home sale revenues up 8%; new orders up 24%

PULTEGROUP INC/MI/

2023-Q2 EPS reported $5.55 revenue$7,764,394,000

Net income of $720M ($3.21 EPS) vs $652M ($2.73 EPS) a year ago; includes $0.21/share insurance benefit.
Home sale revenues $4.1B (+8% YoY) on 7,518 closings (+5%) and $540k average price (+3%).
Net new orders surged 24% to 7,947 homes valued at $4.3B; backlog 13,558 homes worth $8.2B.
Home sale gross margin 29.6% (down 170 bps YoY, up 50 bps sequentially); SG&A 7.8% of sales.
Repurchased 3.7M shares for $250M in Q2; quarter-end cash $1.8B, debt-to-capital 17.3%.

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