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Mar 31, 2021
PulteGroup Q1 2021 Earnings Report
PulteGroup reported strong first-quarter results driven by high demand and increased closings.
Key Takeaways
PulteGroup reported a strong start to the year, with a 31% increase in net new orders and a 12% increase in closings. The company's adjusted earnings per share increased by 60%, driven by gains in core homebuilding operations and strong cash flows.
Net income was $1.13 per share, and adjusted net income was $1.28 per share.
Closings increased by 12% to 6,044 homes.
Net new orders increased by 31% to 9,852 homes.
Backlog increased by 50% to 18,966 homes with a value of $8.8 billion.
PulteGroup
PulteGroup
PulteGroup Revenue by Segment
Revenue by Segment
Financial Services Revenue
CapyFin.com Forward Guidance
The company is optimistic about future housing conditions and the opportunity to drive additional gains in business results, citing favorable demographics, low interest rates, and improving consumer confidence.
Positive Outlook
- Favorable demographics support housing demand.
- Low interest rates make homeownership more accessible.
- Improving consumer confidence boosts buyer activity.
- Increased desire for single-family living drives demand.
- Limited supply of new and existing homes creates favorable conditions.
Challenges Ahead
- Interest rate changes could impact mortgage financing.
- Competition within the homebuilding industry may affect results.
- Availability and cost of land and raw materials could pose challenges.
- Shortages and the cost of labor could impact construction activities.
- Economic changes nationally or in local markets could affect the housing market.