PulteGroup (NYSE: PHM) reported Q1 EPS of $0.59, $0.12 better than the analyst estimate of $0.47. Revenue for the quarter came in at $2 billion versus the consensus estimate of $1.93 billion.

• Q1 Earnings of $0.59 Per Share
• Home Sale Revenues Gained 2% to $1.9 Billion
• Closings of 4,635 Homes with an Average Sales Price of $421,000
• Home Sale Gross Margin of 23.4%
• Net New Orders Totaled 6,463 Homes Valued at $2.7 Billion
• Unit Backlog of 10,550 Homes Valued at $4.6 Billion
• Company Repurchased $25 Million of Common Shares During the Quarter

“Helped by the recent decline in mortgage rates, homebuyers have been steadily returning to the market after a period of slowing demand that began in the second half of 2018,” said Ryan Marshall, President and CEO of PulteGroup. “In addition to the strong financial results PulteGroup delivered in the quarter, we view the significant increase in consumer traffic into our communities as an important indicator of the overall health of the housing industry.”

“Given the very positive macroeconomic backdrop, we continue to maintain a constructive view on the overall housing cycle and are pleased with our competitive position in the markets in which we operate,” added Marshall. “Within this environment, we will remain disciplined in our business practices, while looking to capitalize on market opportunities that can help deliver long-term growth and continued strong financial performance.”

For earnings history and earnings-related data on PulteGroup (PHM) click here.