The company said net income for the quarter ended March 31, 2024 rose to $663 million ($3.10 per diluted share) from $532 million ($2.35 per share) a year earlier. It said net income included a pre-tax gain of $38 million from the sale of a joint venture and a pre-tax insurance benefit of $27 million.

1. 01

   The company said net income for the quarter ended March 31, 2024 rose to $663 million ($3.10 per diluted share) from $532 million ($2.35 per share) a year earlier. It said net income included a pre-tax gain of $38 million from the sale of a joint venture and a pre-tax insurance benefit of $27 million.

2. 02

   PulteGroup said home sale revenues for Q1 rose 10% from a year earlier to $3.8 billion, with closings up 11% to 7,095 homes and average sales price down 1% to $538,000. The company said its home sale gross margin was 29.6%, up 50 basis points from Q1.

3. 03

   The company said net new orders for Q1 rose 14% from a year earlier to 8,379 homes, and that its quarter-end backlog was 13,430 homes, valued at $8.2 billion. It said its cancelation rate was 10% of beginning-period backlog, down from 13% in Q1.

4. 04

   The company said it repurchased 2.3 million common shares for $246 million, or an average price of $106.73 per share, in Q1. It also said its debt-to-capital ratio at quarter-end was 15.4%, and its net debt-to-capital ratio, adjusted for cash of $1.8 billion, was 1.7%.

Analysis scope · Filing body and confirmed press-release exhibitWe analyzed the filing body and confirmed exhibits. This is not a review of other exhibits, investor presentations or the full earnings call.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

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