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Dec 31, 2020
PulteGroup Q4 2020 Earnings Report
PulteGroup's financial performance reflected strength in the housing market, driven by a 24% increase in net new orders and a 220 basis point increase in gross margin.
Key Takeaways
PulteGroup reported a strong fourth quarter with net income of $1.62 per share. Net new orders increased 24% and home sale revenues increased 5%. The company's backlog grew 44% to 15,158 homes.
Net income of $1.62 per share was reported.
Net new orders increased 24% to 7,056 homes; order value increased 33% to $3.3 billion.
Home sale revenues increased 5% to $3.1 billion.
Backlog increased 44% to 15,158 homes with a value of $6.8 billion.
PulteGroup
PulteGroup
PulteGroup Revenue by Segment
PulteGroup Revenue by Geographic Location
Forward Guidance
PulteGroup enters 2021 with tremendous momentum supported by outstanding operating metrics and a backlog of more than 15,000 homes.
Positive Outlook
- Ongoing strength in demand for new homes.
- Low mortgage rates.
- Years of underbuilding new homes.
- Limited supply of homes for sale.
- Increasing desire for homeownership and single-family living.
Challenges Ahead
- Interest rate changes and the availability of mortgage financing.
- Competition within the industries in which we operate.
- The availability and cost of land and other raw materials used by us in our homebuilding operations.
- The impact of any changes to our strategy in responding to the cyclical nature of the industry
- The availability and cost of insurance covering risks associated with our businesses.