CalAtlantic Group (CAA) Tops Q2 EPS by 9c; $500M Buyback

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Go back to CalAtlantic Group (CAA) Tops Q2 EPS by 9c; $500M Buyback

CalAtlantic Group, Inc. Reports 2016 Second Quarter Results and Announces $500 Million Share Repurchase Program

July 28, 2016 4:16 PM EDT

IRVINE, Calif., July 28, 2016 /PRNewswire/ -- CalAtlantic Group, Inc. (NYSE: CAA) today announced results for the second quarter ended June 30, 2016.

Larry Nicholson, President and Chief Executive Officer of CalAtlantic Group, Inc. commented, "The CalAtlantic team delivered a strong second quarter, with home sales revenue up 17% and adjusted pretax income up 22%*, compared to the pro forma prior year period.  In addition, our SG&A percentage reached a second quarter decade low 10.6% that, when combined with our 21.9% gross margin, delivered an operating margin of 11.2% and EPS of $0.83."  Nicholson continued, "It is gratifying to... More