PulteGroup (PHM) Beats on Earnings & Revenue - Tale of the Tape
PulteGroup Inc. (PHM) is one of the leading homebuilders in the U.S. The company caters to all major customer segments: first-time, move-up and active adult, in about 50 markets across the U.S. The brand portfolio under the segment includes Pulte move-up brand, Centex first-time brand and Del Webb active adult.
Pulte’s order trends have remained light for several quarters due to supply constraints in many markets. Also, its margin is being hurt owing to lower margin Dominion closings, higher labor costs and trade pressures.
Investors should also note that earnings estimate for PHM has been moving downwards for sometime. However, PHM has a decent earnings history. The homebuilding company has posted two positive earnings surprise in the past four quarters, with an average surprise of 2.67%.
Currently, PHM has a Zacks Rank #3 (Hold), but that could definitely change following PulteGroup’ earnings report which was just released. We have highlighted some of the key stats from this just-revealed announcement below:
Earnings: PHM beat on earnings. Our consensus earnings estimate called for EPS of $0.41/share, and the company reported EPS of $0.43 instead. Investors should note that these figures take out stock option expenses.
Revenues: PHM reported revenues of $1.82 billion. This surpassed our consensus estimate of $1.78 billion.
Key Stats to Note: Orders improved 2% in the quarter.
Check back later for our full write up on this PHM earnings report later.
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