PulteGroup (NYSE:PHM) released its fourth-quarter results, with revenues falling short of Wall Street’s expectations. The company reported its fourth-quarter earnings per share (EPS) at $3.28, a decrease from the $3.85 reported in the same period last year but higher than the consensus estimates of $3.21. However, PulteGroup’s revenue for the quarter was $4.29 billion, a 17% decline year-over-year and below analysts’ expectations of $4.48 billion.

In terms of home closures, PulteGroup completed 7,615 homes in the quarter, marking a 14% decrease from the previous year and falling short of the anticipated 8,026. On a positive note, net new orders saw a significant increase of 57% year-over-year to 6,214, surpassing Wall Street’s estimates of 5,675.

Additionally, the company’s home sale gross margin declined slightly to 28.9% in the fourth quarter, compared to 29.4% in the same quarter the previous year.

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