Pultegroup - PHM STOCK NEWS

PulteGroup (NYSE: PHM) reported strong third quarter 2024 financial results, with net income rising 16% to $698 million, or $3.35 per share. Home sale revenues increased 12% to $4.3 billion, driven by a 12% increase in closings to 7,924 homes. The average selling price remained stable at $548,000. Home sale gross margin was 28.8%, slightly down from 29.5% last year. Net new orders totaled 7,031 homes with a value of $3.9 billion, while the backlog stood at 12,089 homes valued at $7.7 billion.

The company invested $1.4 billion into its business and returned over $360 million to shareholders, including $320 million in share repurchases. PulteGroup's financial services operations saw a 90% increase in pre-tax income to $55 million. The company ended the quarter with $1.5 billion in cash and a debt-to-capital ratio of 12.3%.

PulteGroup, Inc. (NYSE: PHM) has announced a quarterly cash dividend of $0.20 per common share. The dividend will be payable on October 2, 2024, to shareholders of record at the close of business on September 17, 2024. This announcement demonstrates PulteGroup's commitment to returning value to its shareholders through regular dividend payments. The dividend declaration by the Board of Directors reflects the company's financial stability and confidence in its future performance.

Del Webb, a leading builder of 55+ active adult communities, has broken ground on Heartwood, its newest community near Savannah, Georgia. This 310-acre development will feature approximately 700 homes designed around marshes, greenspace, and nature trails. The community will offer 11 single-family low-maintenance home designs from the GenYou™ collection, with prices expected to start in the $400,000s.

Amenities will include a 9,000 square foot clubhouse with a café, fitness studio, and indoor pool, as well as outdoor recreational facilities like pickleball courts and a boathouse on the Jerico River. A full-time lifestyle director will organize events and activities for residents. The sales center is expected to open in spring 2025, offering homesite selection and model homes to tour.

PulteGroup (NYSE: PHM) has announced the release date for its third quarter 2024 financial results. The company will disclose the results before the market opens on Tuesday, October 22, 2024. Following the release, PulteGroup will host a conference call at 8:30 a.m. (ET) to discuss the quarterly performance.

Investors and analysts can access the call through a live audio webcast available on PulteGroup's website. The dial-in number for call participants is (888) 440-6928 with the conference ID 6106699. For those unable to join live, an audio replay will be made available within 24 hours, and an archive of the call will be accessible on the company's website.

PulteGroup, a leading U.S. homebuilder, has donated two mortgage-free homes to military veterans in Orlando through its Built to Honor® program. The 88th and 89th homes were presented to U.S. Air Force Master Sergeant Kaia Santana and U.S. Army Sergeant James Burse on August 19 in the EverBe community. The custom-built homes feature personalized touches, including surprise backyard pools.

Santana, a 19-year veteran with multiple deployments, and Burse, a nine-year veteran with tours in Iraq and Afghanistan, were deeply moved by the thoughtful details in their new homes. The Built to Honor® program, launched in 2013, supports veterans injured during service and has now gifted 89 homes. These homes were built in partnership with Building Homes for Heroes, a national nonprofit organization.

PulteGroup (NYSE: PHM) has announced the appointment of Mike Guhl as Senior Vice President and Chief Information Officer (CIO), effective August 19, 2024. Guhl, who joins from HD Supply where he served as CIO since 2020, will replace current CIO Joe Drouin, who is retiring on October 1, 2024. With extensive IT leadership experience, including roles at Slalom Consulting and Home Depot, Guhl is also a US Air Force veteran.

In his new role, Guhl will oversee PulteGroup's IT strategy and operations, focusing on supporting business objectives and enhancing customer service. The company's CEO, Ryan Marshall, expressed confidence in Guhl's ability to drive innovation and efficiency across operations.

PulteGroup (NYSE: PHM) reported strong Q2 2024 financial results, with earnings increasing 19% to $3.83 per share. Home sale revenues rose 10% to $4.4 billion, driven by an 8% increase in closings to 8,097 homes and a 2% increase in average sales price to $549,000. The company's gross margin improved by 30 basis points to 29.9%. Net new orders totaled 7,649 homes with a value of $4.4 billion. PulteGroup's backlog stood at 12,982 homes valued at $8.1 billion. The company repurchased $314 million of common shares and $300 million of senior notes in the quarter, demonstrating strong cash flow management.

PulteGroup (NYSE: PHM) has announced that Bob O'Shaughnessy, Executive Vice President and CFO, plans to retire at the end of 2025. As part of the company's succession plan, Jim Ossowski, currently Senior VP of Finance, will succeed O'Shaughnessy as CFO.

O'Shaughnessy will continue as CFO through early February 2025, then remain with PulteGroup as Executive VP until the end of 2025. Ossowski will be promoted to Executive VP and CFO effective February 2025, overseeing accounting, tax, audit, risk management, and treasury functions.

Ossowski brings 22 years of experience with PulteGroup, including managing the $16 billion homebuilding operations and the company's asset management committee. This transition highlights PulteGroup's focus on long-term succession planning and internal talent development.

Pulte Homes announces the pre-sale launch of Deep Creek at Jordanelle Ridge, marking its return to Utah after two decades. This new community in Heber City combines mountain living with city conveniences. It is strategically located 15 minutes from Park City and 45 minutes from Salt Lake City International Airport.

The Canyon Series offers eight home designs starting in the mid-$700Ks, featuring single-family homes ranging from 2,448 to 2,920 sq. ft. with 2-4 bedrooms. Model homes will be available in August 2024. Later, the Peak Series townhomes will be available with model homes expected in early 2025.

Residents will have access to The Ridge Club, offering amenities like a fitness room, pickleball courts, and more. Potential buyers can join the VIP list at pulte.com/deepcreekcanyon for updates on community developments and promotions.