krblokhin PulteGroup, Inc. (NYSE:PHM) has been a strong performer over the past year, rising over 55%, as the housing market has proven resilient amid substantially higher interest rates. On Tuesday, Pulte reported solid earnings, but shares dropped 2% in response, likely as its strong rally has caused some profit taking. I last covered Pulte in April, rating shares a buy. Since that recommendation, PHM has rallied 8%, a solid total return, but a bit below the market’s 9% rally. Seeking Alpha In the c ...

财务数据和关键指标变化 - 公司Q2营收为44亿美元,同比增长10%,主要由于销量增加8%和均价上涨2% [27] - 公司Q2每股收益为3.83美元,同比增长19%,创下Q2历史新高 [48] - 公司Q2毛利率为29.9%,同比增加30个基点,主要受益于有利的销售组合和定价环境 [39] 各条业务线数据和关键指标变化 - 一线买家占销量40%,改善型买家占37%,活跃成人买家占23% [29] - 一线买家订单量同比下降3%,改善型买家订单量同比增长4%,活跃成人买家订单量同比下降17% [33][34] 各个市场数据和关键指标变化 - 佛罗里达州西南部和德克萨斯州部分市场存在一定库存积压,正在寻找新的平衡价格 [18][19] - 这些市场的价格发现过程可能需要6-9个月的时间 [92] 公司战略和发展方向及行业竞争 - 公司继续推进土地选择权策略,以提高资产周转效率,目标是将土地选择权占比从50%提高到70% [22][23][85] - 公司计划2024年全年投资约50亿美元用于土地收购和开发,保持3%-5%的社区数量增长 [50][51] - 公司认为未来几年美国住房供给缺口仍将存在,为行业带来长期需求支撑 [15][17] 管理层对经营环境和未来前景的评论 - 2024年Q2需求较Q1有所波动,但公司将继续调整价格、节奏和开工以实现最佳业务成果 [24][25] - 公司预计2024年全年交付31,000套房,并有望在2025年实现5%-10%的增长 [25][56] - 如果联储在未来几个月内降息,将为公司业务带来强劲的财务和心理推动力 [56] 其他重要信息 - 公司CFO O'Shaughnessy将于2025年初卸任CFO职务,由现任高级副总裁Ossowski接任 [59][60][61] - 公司在2024年上半年实现了10%的营收增长和25%的每股收益增长,同时大幅增加了土地投资和股票回购 [57][58] 问答环节重要的提问和回答 问题1 **Stephen Kim 提问** 土地选择权策略对毛利率的影响 [65][66] **Ryan Marshall 回答** 土地选择权策略会带来200-300个基点的毛利率和资本回报率的权衡,但公司更看重资本回报率 [66] 问题2 **John Lovallo 提问** 佛罗里达州和德克萨斯州市场库存情况及对公司业务的影响 [71][73] **Ryan Marshall 和 Robert O'Shaughnessy 回答** 这些市场库存水平略高于正常水平,但公司有能力通过价格调整来消化,不会对业务造成重大影响 [72][73][74] 问题3 **Anthony Pettinari 提问** 利率下降对毛利率的影响,以及是否存在观望购房的消费者群体 [77][78] **Robert O'Shaughnessy 回答** 利率下降对毛利率的影响取决于经济环境,公司会根据市场情况调整价格和激励措施 [78] **Ryan Marshall 回答** 部分消费者由于负担能力和信心问题而观望购房,公司会针对性地应对 [118][119]

PulteGroup (PHM) came out with quarterly earnings of $3.58 per share, beating the Zacks Consensus Estimate of $3.21 per share. This compares to earnings of $3 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 11.53%. A quarter ago, it was expected that this homebuilder would post earnings of $2.36 per share when it actually produced earnings of $2.87, delivering a surprise of 21.61%.Over the last four quarters, the company has s ...

FOR IMMEDIATE RELEASE Company Contact Investors: Jim Zeumer (404) 978-6434 Email: jim.zeumer@pultegroup.com PULTEGROUP REPORTS SECOND QUARTER 2024 FINANCIAL RESULTS • Earnings Increased 19% to $3.83 Per Share • Home Sale Revenues Increased 10% to $4.4 Billion • Closings Increased 8% to 8,097 Homes; Average Sales Price Increased 2% to $549,000 • Home Sale Gross Margin Increased 30 Basis Points to 29.9% • Net New Orders Totaled 7,649 Homes with a Value of $4.4 Billion • Unit Backlog of 12,982 Homes with a Val ...

PulteGroup, Inc.’s (PHM) Homebuilding segment, which accounted for more than 98% of total revenues in 2023, is expected to have increased year over year when PHM reports second-quarter 2024 results on Jul 23.Despite challenges, PulteGroup showcased a robust performance so far this year, witnessing a stock surge of 20.9%. This growth has outpaced the Zacks Building Products - Home Builders industry's increase of 16.2%. The company's strategic focus on entry-level buyers, liquidity management, resilient opera ...

PulteGroup Inc. (PHM) is scheduled to report second-quarter 2024 results on Jul 23, before the opening bell.In the first quarter of 2024, PulteGroup demonstrated strong resilience in a high-rate environment. The company exceeded expectations with a 21.6% beat in earnings per share (EPS) and 10.1% in revenues. Year over year, adjusted EPS and revenues grew 22.1% and 10.4%, respectively. Despite market challenges, PulteGroup saw a 14% rise in net orders, increased net pricing in half of its communities, and a ...

For Immediate ReleaseChicago, IL – July 17, 2024 – Today, Zacks Equity Research discusses D.R. Horton, Inc. (DHI) , PulteGroup, Inc. (PHM) , Meritage Homes Corp. (MTH) , KB Home (KBH) and M/I Homes, Inc. (MHO) .Industry: HomebuildingLink: https://www.zacks.com/commentary/2302639/5-stocks-to-watch-from-the-promising-homebuilding-industryThe lack of existing homes for sale in the market, along with a desire to own a home, has been driving demand for the U.S. housing space, defying the challenges associated wi ...

PulteGroup (PHM) closed the most recent trading day at $116.24, moving -0.08% from the previous trading session. This move lagged the S&P 500's daily gain of 0.28%. On the other hand, the Dow registered a gain of 0.53%, and the technology-centric Nasdaq increased by 0.4%.Shares of the homebuilder witnessed a gain of 1.96% over the previous month, beating the performance of the Construction sector with its gain of 0.98% and underperforming the S&P 500's gain of 3.78%.The investment community will be closely ...

PulteGroup, Inc. (PHM) shares, like other builders, have pulled back slightly in recent times, given concerns over mortgage rates. PHM shares have lost 11% in the past month amid a challenging borrowing costs landscape.Even shares of a few prominent players in the industry like D.R. Horton (DHI) , Lennar (LEN) and Toll Brothers (TOL) have lost 8.4%, 11.2% and 8.2%, respectively, in the past month. The Zacks Building Products - Home Builders industry has declined 5%. However, the S&P 500 Index has risen 3.4% ...

The new market cycle could be the best environment for ‘boring’ stocks to take off. Recently, there has been some interest in the real estate sector, especially after Warren Buffett started buying homebuilding stocks like PulteGroup Inc. NYSE: PHM and D.R. Horton Inc. NYSE: DHI over the last quarter of 2023. This raised the question of whether the industry could see more rallies ahead.While it may be too late to buy the home builders, considering that they have already rallied significantly over the past 12 ...