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PulteGroup Withdraws Guidance - Quick Facts

PulteGroup, Inc. (PHM) said, given the the uncertainty relating to government efforts to restart local economies, the company has decided to withdraw its previous guidance for 2020 financial results. The company has also elected to suspend all stock repurchase activities.

First quarter earnings per share was $0.74 compared to $0.59, a year ago. Home sale revenues increased 14% to $2.2 billion. Net new orders increased 16% to 7,495 homes.

The company ended the quarter with $1.9 billion of cash, which includes the receipt of $700 million in connection with the company's decision to draw on its revolving bank facility in March.

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