PulteGroup Q1 EPS $3.10, up 32%; home sale revenues record $3.8B

PULTEGROUP INC/MI/

2024-Q1 EPS reported $3.10 revenue$3,949,160,000

Net income $663M ($3.10 EPS) vs $532M ($2.35 EPS) in Q1 2023, up 32%.
Home sale revenues rose 10% to $3.8B on 7,095 closings (+11%); average price $538K (-1%).
Home sale gross margin 29.6%, up 50bps YoY and 70bps sequentially.
Net new orders 8,379 homes (+14%); cancellation rate fell to 10% from 13%.
Repurchased 2.3M shares for $246M; quarter-end cash $1.8B, net debt-to-capital 1.7%.

item 2.02 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, 2024 results: revenue $3.8 billion, net income $663 million, EPS $3.10 per share.

Period: first quarter ended March 31, 2024
Revenue: $3.8 billion
Net income: $663 million
EPS: $3.10 per share
Result: reported results

Exact text from the filing

Email: jim.zeumer@pultegroup.com PULTEGROUP, INC. REPORTS FIRST QUARTER 2024 FINANCIAL RESULTS • Earnings Increased 32% to $3.10 Per Share • Home Sale Revenues Increased 10% to $3.8 Billion • Closings Increased 11% to 7,095 Homes • Home Sale Gross Margin Increased 50 Basis Points to 29.6% • Net New Orders Increased 14% to 8,379 Homes • Unit Backlog of 13,430 Homes

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Source: SEC EDGAR

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