Dec 31, 2022

PulteGroup Q4 2022 Earnings Report

Net income increased driven by closings and margin expansion.

Key Takeaways

PulteGroup reported a strong fourth quarter with net income increasing 48% to $3.85 per share and adjusted net income increasing 45% to $3.63 per share. Closings increased 3% to 8,848 homes, and home sale revenues increased 20% to $5.1 billion. The homebuilding gross margin increased 200 basis points to 28.8%.

Net income increased 48% to $3.85 per share.

Adjusted net income increased 45% to $3.63 per share.

Closings increased 3% to 8,848 homes.

Home sale revenues increased 20% to $5.1 billion.

Total Revenue
$5.17B
Previous year: $4.36B
+18.6%
EPS
$3.63
Previous year: $2.51
+44.6%
Total Closings Units
8.85K
Previous year: 8.61K
+2.8%
Total Avg Selling Price
$571K
Previous year: $490K
+16.5%
Total Backlog Units
12.17K
Previous year: 18K
-32.4%
Gross Profit
$1.46B
Previous year: $1.13B
+28.7%
Cash and Equivalents
$1.05B
Previous year: $1.78B
-40.8%
Free Cash Flow
$948M
Previous year: $435M
+117.9%
Total Assets
$14.8B
Previous year: $13.4B
+10.8%

PulteGroup

PulteGroup

PulteGroup Revenue by Segment

Forward Guidance

The company did not provide specific forward guidance in this release.