Pultegroup, Inc. - PHM STOCK NEWS

PulteGroup, Inc. (NYSE: PHM) will present at the Raymond James & Associates’ 44th Annual Institutional Investors Conference on March 6, 2023, at 1:40 p.m. ET. Investors can access the live webcast via the company’s website. PulteGroup, based in Atlanta, Georgia, is one of the largest homebuilding companies in America, operating in over 40 markets. Its brand portfolio includes well-known names such as Pulte Homes, Centex, and Del Webb. The company focuses on building diverse homes to meet the needs of various buyer groups.

PulteGroup celebrates the 10th anniversary of its Built to Honor program, providing mortgage-free homes to veterans. Recently, U.S. Air Force Master Sergeant Francis Reilly and his wife were awarded a new home in Port St. Lucie, Florida, marking the program's first home in Southeast Florida. Since its launch in 2013, PulteGroup has delivered over 75 homes to veterans nationwide. The construction of the Reilly's home, exceeding 2,600 square feet, is set to begin this spring, symbolizing a significant commitment to supporting injured veterans and their families.

PulteGroup, Inc. (NYSE: PHM) has announced a quarterly dividend of $0.16 per common share, payable on April 4, 2023, to shareholders of record as of March 20, 2023. As one of America's largest homebuilding companies, PulteGroup operates in over 40 markets nationwide and offers brands like Pulte Homes, Centex, and Del Webb. The company aims to build places where people can fulfill their dreams, showcasing its adaptability to changing consumer demands.

PulteGroup, Inc. (NYSE: PHM) reported a 48% increase in net income for Q4 2022, totaling $882 million or $3.85 per share. Adjusted net income rose 45% to $832 million. Home sale revenues surged 20% to $5.1 billion due to a 3% increase in closings to 8,848 homes. The homebuilding gross margin improved by 200 basis points to 28.8%. The company's cash balance reached $1.1 billion, with a debt-to-capital ratio of 18.7%. However, net new orders decreased 41% to 3,964 homes, reflecting heightened cancellation rates and a challenging market impacted by rising interest rates.

The Board of Directors of PulteGroup (NYSE: PHM) has concluded an investigation into a former employee's breach of the Company’s Code of Ethical Business Conduct related to improper social media use. The former employee was found to have operated multiple Twitter accounts making critical comments about Pulte family members. The investigation, conducted by King & Spalding LLP and led by former U.S. Attorney John Horn, determined that the employee acted alone without any other Company's involvement or use of automated posting technology. Chairman Thomas Folliard expressed regret over the incident and announced the investigation as complete.

PulteGroup, Inc. (NYSE: PHM) has terminated Senior VP Brandon Jones due to violations of the Company’s Code of Ethical Business Conduct. His departure is effective immediately following an independent investigation. PulteGroup President Ryan Marshall will take on Jones’ responsibilities temporarily. PulteGroup, based in Atlanta, is a leading homebuilder operating in over 40 markets, offering diverse brands like Pulte Homes and Centex. This incident reflects the company’s commitment to ethical practices.

PulteGroup, Inc. (NYSE: PHM) will release its fourth quarter 2022 financial results on January 31, 2023, before the market opens. A conference call to discuss these results is scheduled for 8:30 a.m. (ET) the same day. Interested parties can access the call through a live audio webcast on PulteGroup's website, with a dial-in option available at (888) 440-6928 (conference ID: 6106699). The recorded call will be accessible within 24 hours, and an archive will be posted on the company's site.