PulteGroup Q4 2021 Earnings Report
Key Takeaways
PulteGroup reported a strong fourth quarter in 2021, with net income increasing by 61% to $2.61 per share. Home sale revenues rose by 38% to $4.2 billion, driven by a 26% increase in closings and a 10% increase in average sales price. The company also saw a significant increase in homebuilding gross margin and a 19% increase in unit backlog.
Net income increased 61% to $2.61 per share.
Home sale revenues increased 38% to $4.2 billion.
Closings increased 26% to 8,611 homes.
Unit backlog increased 19% to 18,003 homes.
PulteGroup
PulteGroup
PulteGroup Revenue by Segment
Forward Guidance
PulteGroup anticipates strong buyer demand to continue in 2022, driven by a resilient economy and desire for home ownership. The company believes it is well-positioned to grow its business, leveraging its size and community count, despite ongoing supply chain disruptions.
Positive Outlook
- Strong buyer demand is expected to continue in 2022.
- The company is well-positioned to grow its business.
- PulteGroup has a growing community count.
- There is an available inventory of new homes.
- The company is focused on delivering exceptional returns.
Challenges Ahead
- Ongoing supply chain disruptions continue to challenge the industry.
- A more competitive operating environment may impact financial services.
- Lower orders in the quarter primarily reflect a 7% decrease in average community count.
- Company actions to limit the rate of sales in many of its communities.
- Uncertainty in the mortgage lending industry, including revisions to underwriting standards and repurchase requirements associated with the sale of mortgage loans