Pultegroup, Inc. - PHM STOCK NEWS

U.S. Army Sergeant Bryan Edwards received keys to a new, mortgage-free home in Laurel, Maryland, through PulteGroup's Built to Honor® program, which aids wounded veterans. This three-bedroom, three-bathroom home was specially designed for the Edwards family and is part of PulteGroup’s commitment to supporting military families. This is the second home dedicated in the Washington D.C. area by the program, which has donated over 60 homes since its inception in 2013.

PulteGroup reported a strong Q3 2021 with a net income of $476 million, or $1.82 per share, a 36% increase from the previous year. The company saw a 18% rise in home sale revenues to $3.3 billion, driven by a 9% increase in closings to 7,007 homes. Gross margin improved by 200 basis points to 26.5%. However, net new orders decreased 17% to 6,796 homes. The unit backlog grew 33% to 19,845 homes, valued at $10.3 billion.

PulteGroup, Inc. (NYSE: PHM) will announce its third quarter 2021 financial results on October 26, 2021, before market opening. A conference call is scheduled for 8:30 a.m. ET that same day, where the results will be discussed. Investors can access a live audio webcast by visiting PulteGroup's website. The company, a major player in the homebuilding industry with operations across more than 40 markets, aims to fulfill the diverse housing needs of its customers through its various brands.

PulteGroup, Inc. (NYSE: PHM) has declared a quarterly cash dividend of $0.14 per common share, payable on October 5, 2021, to shareholders of record as of the close of business on September 20, 2021. This announcement highlights the company's commitment to returning value to its shareholders while maintaining strong operations across over 40 markets nationwide.

PulteGroup, Inc. (NYSE: PHM) has updated its closing guidance due to ongoing supply chain disruptions affecting homebuilding. The company anticipates a 8% increase in third quarter closings to 7,000 homes, and a 19% to 21% rise for the full year, totaling 29,250 to 29,750 homes. However, challenges persist with building product shortages impacting quality and timelines. Due to these factors, gross margin is now expected between 26.4% and 26.6%, with SG&A at 9.9% of home sale revenues. The full third quarter results will be reported on October 26, 2021.

PulteGroup (NYSE: PHM) enhances customer experience by introducing MINE x Pulte, an online interior design service allowing homebuyers to purchase furniture and décor featured in model homes. This initiative simplifies the shopping process for customers, enabling them to replicate the designer look at home without hiring an interior designer. Homebuyers can scan QR codes at model homes to access curated collections on MINE's website. PulteGroup's design team focuses on functionality and style, connecting buyers with products that suit their needs.