PulteGroup Sees Q3 Closings To Rise About 8% On-year To 7,000 Homes - Quick Facts

Ahead of the upcoming investor conferences, homebuilder PulteGroup, Inc. (PHM) announced Wednesday an updated closing guidance for its third quarter and full year 2021.

PulteGroup currently expects third quarter closings to increase approximately 8 percent over last year to 7,000 homes. For the full year, the Company expects closings to increase approximately 19 to 21 percent to between 29,250 and 29,750 homes.

The company said it continues to work closely with its suppliers, but shortages for a variety of building products, combined with increased production volumes across the homebuilding industry, are directly impacting its ability to get homes closed to its level of quality over the remainder of 2021.

Based on the reduced closing volume and changes in the geographic and buyer mix of homes anticipated to close in the period, the Company now expects third quarter gross margin to be in the range of 26.4 to 26.6 percent, and SG&A of 9.9 percent of home sale revenues.

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