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PulteGroup (PHM) Q1 Earnings: How Key Metrics Compare to Wall Street Estimates
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For the quarter ended March 2024, PulteGroup (PHM - Free Report) reported revenue of $3.95 billion, up 10.5% over the same period last year. EPS came in at $2.87, compared to $2.35 in the year-ago quarter.
The reported revenue represents a surprise of +10.09% over the Zacks Consensus Estimate of $3.59 billion. With the consensus EPS estimate being $2.36, the EPS surprise was +21.61%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how PulteGroup performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Average Selling Price - Total: $538 versus the five-analyst average estimate of $544.72.
Net New Orders in Units - Total: 8,379 compared to the 8,296 average estimate based on five analysts.
Unit Backlog - Total: 13,430 compared to the 14,030 average estimate based on five analysts.
Closings (units) - Total: 7,095 versus 6,411 estimated by five analysts on average.
Active Communities: 931 compared to the 918 average estimate based on four analysts.
Net New Orders (Value) - Total: $4.70 billion versus the two-analyst average estimate of $4.19 billion.
Backlog Value - Total: $8.20 billion compared to the $8.03 billion average estimate based on two analysts.
Homebuilding- Home sale revenues: $3.82 billion compared to the $3.49 billion average estimate based on seven analysts. The reported number represents a change of +9.5% year over year.
Revenues- Financial Services: $92.36 million compared to the $68.24 million average estimate based on seven analysts. The reported number represents a change of +59.4% year over year.
Revenues- Homebuilding: $3.86 billion versus the seven-analyst average estimate of $3.52 billion. The reported number represents a year-over-year change of +9.6%.
Homebuilding- Land sale revenues: $37.22 million compared to the $31.87 million average estimate based on six analysts. The reported number represents a change of +23.8% year over year.
Income / (loss) before income taxes- Homebuilding: $827.66 million versus $641.79 million estimated by four analysts on average.
Shares of PulteGroup have returned -6.8% over the past month versus the Zacks S&P 500 composite's -4.2% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.
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PulteGroup (PHM) Q1 Earnings: How Key Metrics Compare to Wall Street Estimates
For the quarter ended March 2024, PulteGroup (PHM - Free Report) reported revenue of $3.95 billion, up 10.5% over the same period last year. EPS came in at $2.87, compared to $2.35 in the year-ago quarter.
The reported revenue represents a surprise of +10.09% over the Zacks Consensus Estimate of $3.59 billion. With the consensus EPS estimate being $2.36, the EPS surprise was +21.61%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how PulteGroup performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Average Selling Price - Total: $538 versus the five-analyst average estimate of $544.72.
- Net New Orders in Units - Total: 8,379 compared to the 8,296 average estimate based on five analysts.
- Unit Backlog - Total: 13,430 compared to the 14,030 average estimate based on five analysts.
- Closings (units) - Total: 7,095 versus 6,411 estimated by five analysts on average.
- Active Communities: 931 compared to the 918 average estimate based on four analysts.
- Net New Orders (Value) - Total: $4.70 billion versus the two-analyst average estimate of $4.19 billion.
- Backlog Value - Total: $8.20 billion compared to the $8.03 billion average estimate based on two analysts.
- Homebuilding- Home sale revenues: $3.82 billion compared to the $3.49 billion average estimate based on seven analysts. The reported number represents a change of +9.5% year over year.
- Revenues- Financial Services: $92.36 million compared to the $68.24 million average estimate based on seven analysts. The reported number represents a change of +59.4% year over year.
- Revenues- Homebuilding: $3.86 billion versus the seven-analyst average estimate of $3.52 billion. The reported number represents a year-over-year change of +9.6%.
- Homebuilding- Land sale revenues: $37.22 million compared to the $31.87 million average estimate based on six analysts. The reported number represents a change of +23.8% year over year.
- Income / (loss) before income taxes- Homebuilding: $827.66 million versus $641.79 million estimated by four analysts on average.
View all Key Company Metrics for PulteGroup here>>>Shares of PulteGroup have returned -6.8% over the past month versus the Zacks S&P 500 composite's -4.2% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.