U.S. Markets close in 3 hrs 49 mins

PulteGroup: 4Q Earnings Snapshot

ATLANTA (AP) _ PulteGroup Inc. (PHM) on Tuesday reported fourth-quarter profit of $237.6 million.

On a per-share basis, the Atlanta-based company said it had net income of 84 cents. Earnings, adjusted for one-time gains and costs, came to $1.11 per share.

The results surpassed Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $1.09 per share.

The homebuilder posted revenue of $3 billion in the period, also beating Street forecasts. Five analysts surveyed by Zacks expected $2.93 billion.

For the year, the company reported profit of $1.02 billion, or $3.55 per share. Revenue was reported as $10.19 billion.

PulteGroup shares have risen 4 percent since the beginning of the year, while the Standard & Poor's 500 index has climbed 5.5 percent. The stock has decreased 22 percent in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on PHM at https://www.zacks.com/ap/PHM