PulteGroup reports Q1 EPS $1.79, consensus $1.81

Reports Q1 revenue $3.41B, consensus $3.38B. “Our first quarter results reflect PulteGroup’s (PHM) ability to successfully navigate current market conditions as we work to meet buyer demand, turn our assets and drive high returns,” said PulteGroup President and CEO Ryan Marshall. “Along with increased net new orders, we generated strong closings, revenues and earnings, while investing $1.3 billion into land acquisition and development and returning $360 million back to shareholders. “Within a demand environment impacted by domestic and global dynamics, we see a consumer with concerns about affordability and the economy, but still desirous of homeownership as demonstrated by the 3% growth in our first quarter net new orders,” added Marshall. “Given these dynamics, we continue to intelligently manage sales, incentives and production to best position the Company for near- and long-term success.”