PulteGroup Q4 2023 Earnings Report
Key Takeaways
PulteGroup reported a net income of $3.28 per share for Q4 2023. Net new orders increased by 57% to 6,214 homes, while closings decreased to 7,615 homes, resulting in home sale revenues of $4.2 billion. The company's backlog stands at 12,146 homes with a value of $7.3 billion. They repurchased 3.6 million common shares for $300 million and ended the year with $1.8 billion in cash.
Net income was reported at $3.28 per share.
Net new orders increased 57% to 6,214 homes.
Home sale revenues reached $4.2 billion with 7,615 home closings.
Unit backlog totaled 12,146 homes, valued at $7.3 billion.
PulteGroup
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PulteGroup Revenue by Segment
Forward Guidance
Expectations are that 2024 can be a year of increased homebuying demand given a strong job market, lower interest rates and a limited inventory of existing homes. With a ready supply of homes and lots, PulteGroup is extremely well positioned to capitalize on such market conditions as we seek to grow our business, while delivering strong cash flow and high returns.
Positive Outlook
- Strong job market
- Lower interest rates
- Limited inventory of existing homes
- Ready supply of homes and lots
- Opportunity to grow business