PulteGroup reports Q2 EPS $3.83, consensus $3.27

Reports Q2 revenue $4.6B, consensus $4.49B. “PulteGroup’s balanced operating model continues to deliver outstanding financial results as increases in closings, average sales price and gross margin were key drivers of the 19% increase in our earnings to $3.83 per share,” said Ryan Marshall, President and Chief Executive Officer of PulteGroup. “The resulting strong cash flows are providing us with tremendous flexibility as we continued to intelligently allocate capital in the quarter to invest in our business growth, while returning funds to shareholders and further strengthening our overall capital structure. While interest rate movements can impact short-term homebuying demand, long-term market dynamics continue to benefit from a structural shortage of homes caused by years of underbuilding,” added Mr. Marshall. “As demonstrated by our 27.1% return on equity* for the past 12 months, we continue to successfully navigate these conditions by actively managing sales price, pace and starts on a community-by-community basis with the goal of realizing high returns on invested capital and equity over time.”