PulteGroup (PHM) Tops Q3 EPS by 6c

PulteGroup (NYSE: PHM) reported Q3 EPS of $1.01, $0.06 better than the analyst estimate of $0.95. Revenue for the quarter came in at $2.6 billion versus the consensus estimate of $2.62 billion.

Net new orders for the third quarter increased 1% to 5,350 homes. The value of third quarter net new orders was $2.3 billion, which is an increase of 1% over the prior year. For the quarter, the Company operated out of 843 communities compared with 778 communities in the third quarter of 2017.

Unit backlog for the quarter was up 3% over the third quarter of last year to 11,164 homes, with backlog value increasing 5% to $4.9 billion. The average price of homes in backlog increased 2% over the prior year to $440,000.

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

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