Mar 31, 2024

PulteGroup Q1 2024 Earnings Report

PulteGroup reported Q1 2024 financial results with increased earnings and home sale revenues.

Key Takeaways

PulteGroup reported strong Q1 2024 financial results, including record home sale revenues, gross margins, and earnings per share. Net income increased by 32% to $3.10 per share, and home sale revenues rose by 10% to $3.8 billion. The company benefited from favorable demand conditions and a balanced operating model.

Earnings Increased 32% to $3.10 Per Share

Home Sale Revenues Increased 10% to $3.8 Billion

Closings Increased 11% to 7,095 Homes

Net New Orders Increased 14% to 8,379 Homes

Total Revenue
$3.95B
Previous year: $3.58B
+10.4%
EPS
$2.87
Previous year: $2.35
+22.1%
Total Closings Units
7.1K
Previous year: 6.39K
+11.0%
Total Avg Selling Price
$538K
Previous year: $545K
-1.3%
Total Backlog Units
13.43K
Previous year: 13.13K
+2.3%
Gross Profit
$828M
Previous year: $1.03B
-20.0%
Cash and Equivalents
$1.72B
Previous year: $1.28B
+34.5%
Free Cash Flow
$216M
Previous year: $688M
-68.6%
Total Assets
$16.5B
Previous year: $14.8B
+11.2%

PulteGroup

PulteGroup

PulteGroup Revenue by Segment

Forward Guidance

This release includes “forward-looking statements.” These statements are subject to a number of risks, uncertainties and other factors that could cause our actual results, performance, prospects or opportunities, as well as those of the markets we serve or intend to serve, to differ materially from those expressed in, or implied by, these statements.