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Pultegroup Inc
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Symbol: PHM
Industry: Residential Construction
Market Capitalization: $3.438 Billion
About the Company:
PulteGroup, Inc. is a home construction company that conducts its operations in two principal areas: Home Building and Financial Services. The Company's home building operations consist of Pulte Homes, Del Webb (for active adults) and DiVosta (in Florida). Home Building operations also include mortgage banking and title services through Pulte Mortgage LLC and other subsidiaries. The Company's financial services operations include mortgage banking and title services provided by Pulte Mortgage LLC and other subsidiaries.
Earnings:
For the quarter ending January 31, 2023, Pulte Group reported a net income of $481.6 Million. The Company had a cash and cash equivalents balance of $1.54 billion as of January 31, 2023. During Q4 2022, PulteGroup repurchased $348 million of common stock.
Growth:
PulteGroup has consistently delivered long-term growth and a strong track record of creating value for shareholders. The company's strategic priorities have enhanced its financial performance through the economic cycle, positioning it well to continue to deliver long-term shareholder value.
N News
After a difficult start to 2022, stocks rebounded in the second half of the year, with the S&P 500 still up 12% in 2022. However, analysts at Jefferies have warned that the US stock market's rebound rally from October lows needs to be seen with a "pinch of salt." Analysts expect signs of speculative froth that has crept into US equities over the last two months, boosted by "strong seasonality, short covering, generative AI fever and a benign rates backdrop."
On Tuesday, February 28, 2023, at 8:30am ET, PulteGroup will release its fourth-quarter 2022 financial results. A live webcast of the earnings' call discussing the Company's full year and fourth quarter results will be held on February 28, 2023, at 8:30 am (ET) and can be accessed through PulteGroup's website.
Overall, PulteGroup, Inc. (PHM) is a well-established home building company with a significant presence in the residential construction industry. The company has consistently delivered long-term growth and value to its shareholders with a strategic priority aimed at enhancing its financial performance during the economic cycle.