Pultegroup, Inc. - PHM STOCK NEWS

PulteGroup, Inc. (NYSE: PHM) reported a strong third quarter for 2022, with net income rising 48% to $628 million or $2.69 per share, compared to $476 million or $1.82 per share last year. Revenues increased 16% to $3.8 billion, driven by a 15% rise in average sales price to $545,000. Gross margins improved by 360 basis points to 30.1%. However, net new orders fell 28% to 4,924 homes, and the cancellation rate spiked to 24%. The company repurchased $180 million worth of shares and ended the quarter with a debt-to-capital ratio of 22.5%.

PulteGroup, Inc. (NYSE: PHM) announces the retirement of John Chadwick, COO, in 2023. Brandon Jones, currently Senior VP of Field Operations, will take over as COO on January 1, 2023. Chadwick will assist during the transition until April 2023. Jones brings 18 years of experience at PulteGroup, having held various leadership roles across the company. He is recognized for navigating supply chain challenges and enhancing customer experiences.

PulteGroup operates in over 40 markets, focusing on diverse buyer needs.

Del Webb, a leading builder of active adult communities, is set to grand open its latest community, Del Webb Fulshear, on October 8. Located in Fulshear, Texas, this resort-style community spans over 230 acres and offers 725 single-family homes. Home prices start in the upper $200s, with three unique series: The Scenic, The Distinctive, and The Echelon, featuring multiple spacious layouts. Residents will enjoy numerous amenities, including a recreation center, pools, and sports courts, further promoting an active lifestyle.

PulteGroup, Inc. (NYSE: PHM) will release its third quarter 2022 financial results on October 25, 2022, before market opening. The company will hold a conference call at 8:30 a.m. ET the same day to discuss the results. Investors can listen to the call via a live audio webcast on PulteGroup's website. The dial-in number for participants is (888) 440-6928, conference ID 6106699. A replay will be available within 24 hours on the site.

PulteGroup, Inc. (NYSE: PHM) has declared a quarterly dividend of $0.15 per common share. This dividend is payable on October 4, 2022, to shareholders of record by the close of business on September 22, 2022. As one of America’s largest homebuilders, operating in over 40 markets, PulteGroup aims to meet diverse buyer needs through its various brands, including Pulte Homes and Del Webb. This dividend declaration reflects the company’s commitment to returning value to its shareholders.

PulteGroup (NYSE: PHM) has been recognized as one of the 2022 PEOPLE Companies that Care, ranking third for the second consecutive year. This accolade, awarded by Great Place to Work and PEOPLE magazine, highlights the company's commitment to employee welfare and community service, exemplified by initiatives like the Built to Honor program, which provides mortgage-free homes to veterans. Additionally, PulteGroup received accolades in various workplace rankings, including #43 on Fortune's 100 Best Companies to Work For.

Del Webb, a leading builder of active adult communities, announced the grand opening of The Carriage House clubhouse at Kimblewick in Westfield, Indiana, slated for Summer 2023. The 13,000 sq. ft. facility will feature extensive amenities, including a fitness center, indoor spa, and various social spaces. Residents will also benefit from an expansive outdoor area with walking trails, dog parks, and recreational facilities. Homes in the community start at $337,990, offering buyers customizable options through the GenYou™ collection.