logo
Plus   Neg
Share
Email

PulteGroup Q1 Profit Declines - Quick Facts

PulteGroup Inc. (PHM) reported that its first-quarter net income declined to $166.76 million, from last year's $170.75 million, but earnings per share was flat with last year at $0.59. Analysts polled by Thomson Reuters expected the company to report earnings of $0.47 per share. Analysts' estimates typically exclude special items.

"Helped by the recent decline in mortgage rates, homebuyers have been steadily returning to the market after a period of slowing demand that began in the second half of 2018," said Ryan Marshall, President and chief executive officer.

Total revenues for the quarter were $1.997 billion up from $1.97 billion in the prior year. Analysts expected revenue of $1.93 billion for the quarter.

Home sale revenues for the first quarter increased 2% to $1.9 billion. The increase in revenue for the period was driven by a 2% increase in average selling price to $421,000.

The company closed 4,635 homes in the quarter which is a slight increase from the prior year.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
European Union has ordered Broadcom (AVG) to stop applying certain exclusivity agreements with six of its main customers. According to European Union, this will prevent serious and irreparable harm to competition likely to be caused by Broadcom's conduct. In June, the European Commission opened... Amazon.com Inc. (AMZN) announced that it will live stream behind the scenes of its Robotics Fulfillment Center to for students pursuing STEM and Computer Science education. Amazon said on Thursday, October 17 at 7:00 p.m. ET / 4:00 p.m. PT, teachers and students can go online to Twitch to watch and... Walmart has rolled back prices on more than 200 additional toys in stores and online as it braces for the upcoming holiday season. The retail giant is now offering more than 400 toys at a special price, thanks to its already existing rollbacks on toys. In August, Walmart unveiled its list of top-rated toys for 2019 that were selected by kids.
RELATED NEWS
Follow RTT
>