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Sep 30, 2022
PulteGroup Q3 2022 Earnings Report
PulteGroup's financial performance reflected strong demand conditions, with increased revenues and earnings, but also showed a slowdown in demand due to higher interest rates.
Key Takeaways
PulteGroup reported a 16% increase in home sale revenues, reaching $3.8 billion, and a 48% increase in earnings per share to $2.69. The company's operating margin expanded by 410 basis points. However, net new orders decreased by 28% due to higher interest rates impacting demand.
Earnings per share increased by 48% to $2.69.
Home sale revenues increased by 16% to $3.8 billion.
Homebuilding gross margin expanded by 360 basis points to 30.1%.
Net new orders decreased by 28% to 4,924 homes.
PulteGroup
PulteGroup
PulteGroup Revenue by Segment
Forward Guidance
PulteGroup continues to adjust sales, construction, and investment practices to address challenging market conditions and balance housing starts with sales pace.