PulteGroup (NYSE: PHM) reported Q4 EPS of $1.14, $0.05 better than the analyst estimate of $1.09. Revenue for the quarter came in at $2.93 billion versus the consensus estimate of $2.98 billion.

• Reported Net Income of $1.22 Per Share
• Adjusted Net Income of $1.14 Per Share
• Net New Orders Increased 33% to 5,691 Homes
• Closings Increased 2% to 6,822 Homes
• Home Sale Revenues Increased 1% to $2.9 Billion
• Unit Backlog Up 20% to 10,507 Homes
• Backlog Value Increased 18% to $4.5 Billion
• Year-end Cash Balance of $1.2 Billion; Debt-to-Total Capitalization Decreased to 33.6%
• Company Announces Purchase of Off-site Framing-Shell Manufacturer

“As demonstrated by our 33% increase in orders, the recovery in housing demand that began earlier this year gained momentum through the fourth quarter as we realized strong sales across all buyer groups,” said Company President and CEO Ryan Marshall. “The quarter completes an outstanding year during which we continued to invest in growing our business, generated $1.1 billion in operating cash flow, returned $397 million to shareholders, paid down $310 million of homebuilder debt, and realized a 20.0% return on equity.”

“Strong demand for new homes is benefitting from favorable market dynamics including improved affordability in part due to low mortgage rates, high employment and consumer confidence, and a generally balanced inventory of new homes,” added Marshall. “The sustained strength in housing demand allowed us to deliver strong fourth quarter and full-year results, and has PulteGroup well positioned to increase delivery volumes, revenues, homebuilding gross margins and earnings in 2020.”

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