Sep 30, 2020

PulteGroup Q3 2020 Earnings Report

PulteGroup reported strong Q3 2020 financial results driven by increased housing demand and successful execution of business objectives.

Key Takeaways

PulteGroup reported a net income of $416 million, or $1.54 per share, for the third quarter of 2020. Adjusted net income increased 33% to $1.34 per share. Net new orders increased 36% to 8,202 homes, and home sale revenues increased 7% to $2.8 billion.

Net income was $1.54 per share.

Adjusted net income increased 33% to $1.34 per share.

Net new orders increased 36% to 8,202 homes; net new order value increased 43% to $3.6 billion.

Home sale revenues increased 7% to $2.8 billion.

Total Revenue
$2.96B
Previous year: $2.71B
+9.0%
EPS
$1.34
Previous year: $1.01
+32.7%
Total Closings Units
6.45K
Previous year: 6.19K
+4.3%
Total Avg Selling Price
$438K
Previous year: $426K
+2.8%
Total Backlog Units
14.96K
Previous year: 11.64K
+28.6%
Gross Profit
$712M
Previous year: $642M
+11.0%
Cash and Equivalents
$2.07B
Previous year: $737M
+180.5%
Free Cash Flow
$451M
Previous year: $263M
+71.0%
Total Assets
$11.4B
Previous year: $10.3B
+10.7%

PulteGroup

PulteGroup

PulteGroup Revenue by Segment

Forward Guidance

This release includes forward-looking statements that are subject to risks, uncertainties, and other factors. These factors could cause actual results to differ materially from those expressed or implied in the statements.