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PulteGroup (PHM) Tops Q2 Earnings, Misses Revenue Estimates

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PulteGroup Inc. (PHM - Free Report) is one of the leading homebuilders in the U.S. The company caters to all major customer segments: first-time, move-up and active adult, in several markets across the U.S. The brand portfolio under the segment includes Centex, Pulte Homes, Del Webb, DiVosta Homes and John Wieland Homes and Neighborhoods.

Investors should also note that 2017 earnings estimate movement for PHM has been stable for the last 60 days. Moreover, PHM has a positive earnings history. The homebuilding company has posted positive earnings surprise in all of the past four quarters, with an average positive surprise of 9.59%.

Currently, PulteGroup has a Zacks Rank #2 (Buy), but that could definitely change following PulteGroup earnings report which was just released. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

PulteGroup, Inc. Price and EPS Surprise


PulteGroup, Inc. Price and EPS Surprise | PulteGroup, Inc. Quote

We have highlighted some of the key stats from this just-revealed announcement below:

Earnings: PulteGroup’s adjusted earnings surpassed our estimates. Our consensus earnings estimate called for EPS of 45 cents per share, and the company reported adjusted earnings of 47 cents.

Revenues: PulteGroup reported revenues of $2.02 billion, which missed our consensus estimate of $2.03 billion.

Key Stats to Note: Net new orders increased 12% to 6,395 homes in the quarter.

Check back later for our full write up on this PulteGroup earnings report later!

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