Pulte Group (PHM) Tops Q4 EPS by 12c
Pulte Group (NYSE: PHM) reported Q4 EPS of $0.57, $0.12 better than the analyst estimate of $0.45. Revenue for the quarter came in at $1.62 billion versus the consensus estimate of $1.68 billion.
Reported home sale gross margin for the period was 23.2%, an increase of 610 basis points over the prior year and 230 basis points over the third quarter of 2013. Homebuilding SG&A expense for the quarter was $150 million, or 9.3% of home sale revenues. SG&A for the prior year period was $142 million, or 9.6% of home sale revenues.
For the quarter, the Company reported 3,214 net new orders, a decrease of 18% from prior year orders of 3,926. The dollar value of net new orders was $1.1 billion, compared with the prior year order value of $1.2 billion. The Company ended the year with 577 active communities, which is down 14% from the comparable prior year period. As announced previously, the Company expects to operate from an approximate range of 560 to 580 communities during all four quarters of 2014.
PulteGroup's backlog at year end totaled 5,772 homes valued at $1.9 billion, compared with prior year backlog of 6,458 homes valued at $1.9 billion. The average selling price in our current backlog increased 10% over the prior year to $330,000.
For earnings history and earnings-related data on Pulte Group (PHM) click here.
Reported home sale gross margin for the period was 23.2%, an increase of 610 basis points over the prior year and 230 basis points over the third quarter of 2013. Homebuilding SG&A expense for the quarter was $150 million, or 9.3% of home sale revenues. SG&A for the prior year period was $142 million, or 9.6% of home sale revenues.
For the quarter, the Company reported 3,214 net new orders, a decrease of 18% from prior year orders of 3,926. The dollar value of net new orders was $1.1 billion, compared with the prior year order value of $1.2 billion. The Company ended the year with 577 active communities, which is down 14% from the comparable prior year period. As announced previously, the Company expects to operate from an approximate range of 560 to 580 communities during all four quarters of 2014.
PulteGroup's backlog at year end totaled 5,772 homes valued at $1.9 billion, compared with prior year backlog of 6,458 homes valued at $1.9 billion. The average selling price in our current backlog increased 10% over the prior year to $330,000.
For earnings history and earnings-related data on Pulte Group (PHM) click here.