Pultegroup, Inc. - PHM STOCK NEWS

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.

PulteGroup (NYSE: PHM) reported strong Q2 2021 results with a net income of $503 million, or $1.90 per share, compared to $349 million, or $1.29 per share, last year. Adjusted net income was $456 million, or $1.72 per share. Home sale revenues surged by 31% to $3.2 billion, driven by a 22% increase in closings to 7,232 homes. The gross margin improved to 26.6%, up 270 basis points year-over-year. The backlog exceeded 20,000 homes valued at $9.8 billion, signaling future growth.

Invitation Homes (NYSE: INVH) and PulteGroup (NYSE: PHM) have formed a strategic alliance to enhance single-family home leasing. Over the next five years, Invitation Homes anticipates purchasing around 7,500 newly constructed homes from PulteGroup, tailored for leasing purposes. Initial agreements include over 1,000 homes across seven communities, with first sales expected in 2022. The collaboration aims to meet the rising demand for rental homes, focusing on quality and location, benefiting both companies in their respective markets.

PulteGroup (NYSE: PHM) and Invitation Homes (NYSE: INVH) have formed a strategic relationship to design and build approximately 7,500 new homes over the next five years. This initiative aims to enhance Invitation Homes' single-family rental portfolio, with over 1,000 homes already agreed upon for construction in seven communities, primarily in Florida, Georgia, Southern California, North Carolina, and Texas. PulteGroup's CEO, Ryan Marshall, expressed optimism about leveraging their strengths in community development for higher returns.

PulteGroup (NYSE: PHM) announces the promotion of Tony Nason to president of its newly established Northeast Florida division, effective July 1, 2021. Nason will oversee homebuilding operations in Jacksonville, a move aimed at enhancing local focus and expansion opportunities. Under his leadership, the Jacksonville team has achieved notable growth, delivering over 500 homes annually and managing a land pipeline of 4,000 lots. Nason, who has extensive experience in operations and finance, previously served as vice president of operations and finance in North Florida.

PulteGroup, Inc. (NYSE: PHM) has launched its Transact Home Online program, enabling homebuyers to complete the entire home purchasing process online. This innovative platform allows users to select, configure, and finalize the purchase of Centex homes from anywhere, catering especially to millennials. A recent America at Home study indicated that 58% of millennials feel comfortable buying homes online. Currently, the service is available in select communities in Houston and Raleigh, with plans for expansion to nearly 100 communities by the end of 2022.

PulteGroup is building a mortgage-free home for U.S. Army Staff Sergeant Ellis “Jerry” Majetich through its Built to Honor® program, with groundbreaking at Del Webb Nocatee in Ponte Vedra, Florida. This initiative recognizes veterans injured in service, with Majetich's home tailored to his needs post-injuries from an IED attack. The project is part of PulteGroup's broader commitment, having built over 60 homes since the program's inception in 2013. The community welcomes the Majetich family, emphasizing support for veterans.