PulteGroup said net income for Q3 2024 was $698 million, or $3.35 per share, compared with $639 million, or $2.90 per share, in the prior-year period. Home sale revenues for the same quarter were $4.3 billion, up 12%.

1. 01

   PulteGroup said net income for Q3 2024 was $698 million, or $3.35 per share, compared with $639 million, or $2.90 per share, in the prior-year period. Home sale revenues for the same quarter were $4.3 billion, up 12%.

2. 02

   The company said closings rose 12% in Q3 to 7,924 homes, and the average selling price was $548,000, effectively unchanged from a year earlier. Home sale gross margin was 28.8%, compared with 29.5% a year earlier, and Homebuilding SG&A expense was $407 million, or 9.4% of home sale revenues.

3. 03

   The company said net new orders in Q3 were 7,031 homes, with a value of $3.9 billion, up 3% from a year earlier. Backlog at the end of the quarter was 12,089 homes, valued at $7.7 billion. Net new orders in the prior-year quarter were 7,065 homes.

4. 04

   The company said it repurchased 2.5 million common shares in Q3 for $320 million. It ended the quarter with $1.5 billion in cash and a debt-to-capital ratio of 12.3%. For the first 9 months of 2024, it repurchased 7.6 million common shares for $880 million.

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Original filing

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