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Mar 31, 2020
PulteGroup Q1 2020 Earnings Report
PulteGroup's Q1 2020 financial results were released, highlighting the impact of COVID-19 and the company's response.
Key Takeaways
PulteGroup reported a strong first quarter with increased closings, home sale revenues, and net income, but the company withdrew its full-year guidance due to the uncertainty caused by the COVID-19 pandemic.
Net income increased to $0.74 per share compared to $0.59 per share in the prior year.
Closings increased by 16% to 5,373 homes.
Net new orders increased by 16% to 7,495 homes, with a 19% increase in order value to $3.3 billion.
Backlog units increased by 20% to 12,629 homes, and backlog value increased by 21% to $5.6 billion.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
Due to the extent of business disruption and uncertainty relating to government efforts to restart local economies, the company withdrew its previous guidance for PulteGroup’s 2020 financial results and will suspend providing such guidance for the foreseeable future.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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