PulteGroup reports Q1 EPS $2.57, consensus $2.42

Reports Q1 revenue $3.89B, consensus $3.82B. “PulteGroup’s (PHM) financial results continue to benefit from our broadly diversified operating platform and strategic approach to running our business as we balance sales price and pace in support of delivering high returns,” said PulteGroup President and CEO Ryan Marshall. “In the first quarter, this disciplined approach allowed us to again realize strong revenues, margins, earnings and returns, while we used the resulting cash flow to invest in our business and continue returning capital to shareholders. “As the quarter progressed, buyers responded favorably to interest rate declines, but consumers remain caught between a strong desire for homeownership and the affordability challenges of high selling prices and monthly payments that are stretched,” added Marshall. “Given the structural shortage of housing, we remain constructive on long-term housing demand, and are adapting to the short-term impacts on consumer demand resulting from greater economic and financial uncertainty. PulteGroup’s balanced operating model, disciplined underwriting and financial strength position us well to navigate the increasingly dynamic environment and deliver value for our stakeholders.”