Low Fed rates, flight to the suburbs set to boost U.S. homebuilders
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PulteGroup (PHM) Tops Q2 EPS by 28c, Revenues Beat
July 23, 2020 6:32 AM EDTPulteGroup (NYSE: PHM) reported Q2 EPS of $1.15, $0.28 better than the analyst estimate of $0.87. Revenue for the quarter came in at $2.59 billion versus the consensus estimate of $2.51 billion.
Net Income of $1.29 Per ShareAdjusted Net Income of $1.15 Per ShareHome Sale Revenues Increased 3% to $2.5 BillionHomebuilding Gross Margin Increased 80 Basis Points to 23.9%Backlog of 13,214 Homes Up 12%; Backlog Value Up 13% to $5.8 BillionNet New Orders Decreased 4% to 6,522 HomesCash of $1.7 Billion After Repaying $700 Million on its Revolving Credit FacilityCompany Provides Update on the Impacts of... More