PulteGroup said closings in the 3-month and 9-month periods rose 12% and 10% from the year-earlier periods, respectively, and that home sale revenues were $456.3 million and $1.2 billion higher. It said the average selling price was flat compared with 2024.

1. 01

   PulteGroup said closings in the 3-month and 9-month periods rose 12% and 10% from the year-earlier periods, respectively, and that home sale revenues were $456.3 million and $1.2 billion higher. It said the average selling price was flat compared with 2024.

2. 02

   The company said its home sale gross margin was 28.8% for the 3-month period and 29.4% for the 9-month period in 2024, compared with 29.5% and 29.4% in the prior-year periods. It said SG&A as a percentage of home sale revenues was 9.4% for the 3-month period and 8.9% for the 9-month period, compared with 9.1% and 8.8%.

3. 03

   PulteGroup said net cash provided by operating activities for the first 9 months of 2024 was $1.1 billion, reflecting net income of $2.2 billion and a net increase in inventory of $805.3 million. It said net cash used in financing activities was $1.4 billion, including share repurchases of 7.6 million shares for $880.0 million and dividend payments of $126.6 million.

4. 04

   The company said that as of September 30, 2024, it had no borrowings outstanding under its Revolving Credit Facility, $310.9 million of letters of credit issued and $939.1 million of remaining capacity. It also said it had $1.6 billion of unsecured senior notes outstanding, and the remaining purchase price under its land option agreements was $8.1 billion.

Key figures

Quarter ended September 30, 2024

Revenue

$4.5B

Net income

$698M

EPS

$3.35

Analysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

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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