PulteGroup Q2 2021 Earnings Report
Key Takeaways
PulteGroup reported outstanding second quarter financial results with a 270-basis point increase in gross margin. Net income was $1.90 per share, and adjusted net income was $1.72 per share. The company saw increases in net new orders, closings, home sale revenues, and backlog.
Net new orders increased by 28% to 8,322 homes.
Closings increased by 22% to 7,232 homes.
Home sale revenues increased by 31% to $3.2 billion.
Backlog increased by 52% to 20,056 homes, valued at $9.8 billion.
PulteGroup
PulteGroup
PulteGroup Revenue by Segment
Forward Guidance
PulteGroup did not provide specific forward guidance in the provided text. The report mentions optimism about demand conditions and the overall strength of the housing market going forward, driven by favorable market dynamics, strong housing demand, limited inventory, economic recovery, positive job market, low interest rates, and high consumer confidence.
Positive Outlook
- Strong housing demand
- Limited inventory of new and existing homes
- Recovering economy
- Positive job market
- High levels of consumer confidence
Challenges Ahead
- Interest rate changes
- Availability and cost of land and other raw materials
- Shortages and the cost of labor
- Weather related slowdowns
- Governmental regulation affecting the housing market