Pultegroup, Inc. - PHM STOCK NEWS

PulteGroup (NYSE: PHM), a leading homebuilder in America, has initiated a nationwide partnership with the Boys & Girls Clubs of America. This collaboration aims to motivate youth to achieve academic success and explore career opportunities within the homebuilding sector. Employees will volunteer across 21 states, engaging in mentorship, academic support, and various activities. Additionally, the PulteGroup Charitable Foundation is donating $150,000 to support this initiative. PulteGroup's President and CEO Ryan Marshall emphasized the importance of investing in today's youth as future homebuilders. The partnership is backed by PulteGroup’s Diversity Board, which focuses on community improvement and inclusion.

PulteGroup reported a strong first quarter of 2023, with net income increasing 28% to $2.35 per share, compared to $1.83 in the prior year. Home sale revenues rose 15% to $3.5 billion, driven by a 6% increase in closings to 6,394 homes and a 9% surge in average sales price, reaching $545,000. Gross new orders rose 1% to 8,898 homes, although net new orders fell 8% to 7,354 homes. The company's backlog consisted of 13,129 homes valued at $8.0 billion. PulteGroup also increased its share repurchase authorization by $1.0 billion, reflecting confidence in financial performance. The company’s operating margin improved to 19.5%, and SG&A expenses decreased as a percentage of revenues, indicating operational efficiency.

PulteGroup, Inc. (NYSE: PHM) has announced a $1.0 billion increase to its share repurchase authorization, raising the total to $1.2 billion. This decision reflects the company's strong operating results and commitment to returning capital to shareholders. CEO Ryan Marshall emphasized that despite market volatility, PulteGroup remains focused on generating long-term shareholder value. Over the past decade, the company has returned over $6 billion to shareholders through dividends and share buybacks.

PulteGroup's Built to Honor^® program celebrated its 10th anniversary by donating a mortgage-free home to U.S. Marine Corps Sergeant Matthew Perry in Jacksonville, Florida. This home, designed for accessibility, includes ADA modifications and is part of a partnership with Building Homes for Heroes. The program has provided 76 homes nationwide, valued at over $35 million. PulteGroup aims to honor and support veterans by building homes tailored to their needs, fostering community connections and providing essential services. The dedication ceremony emphasized gratitude for the sacrifices made by veterans like Sergeant Perry, who was medically retired after serving in Iraq and Afghanistan.

PulteGroup (NYSE: PHM) unveils spring interior design trends focusing on personalization and creativity. Key trends include freeform lines, natural essentials, and mixed era elements. Color palettes feature shades of blue, black and white, and vivid accents. The company's design team will create over 500 model homes in 2023, offering consumers access to designer furniture through a partnership with MINE, an online interior design service. This initiative aims to enhance the home buyer experience by providing trendy, curated interior options.