PulteGroup reports Q3 EPS $3.35, consensus $3.11

Reports Q3 revenue $4.48B, consensus $4.26B. “Supported by the successful execution of our balanced spec and build-to-order operating model, PulteGroup (PHM) realized record third quarter home sale revenues of $4.3 billion and earnings of $3.35 per share, as we increased home closings in the period by 12% over last year,” said PulteGroup President and CEO, Ryan Marshall. “Consistent with our stated strategies, in the third quarter we invested $1.4 billion into our business, while returning over $360 million to our shareholders and generating a return on equity of 27%* for the trailing 12 months. Years of underbuilding has created a structural shortage of homes and correspondingly high home prices, so the Federal Reserve’s pivot to lowering interest rates provides a powerful tool in helping to address the affordability challenge faced by today’s homebuyers,” said Marshall. “Given our strong third quarter and nine-month financial results, we are well positioned to deliver a record year of earnings for the Company.”