Strong Pre-Tax Income
Generated $140 million of pre-tax income, representing 12% of revenue with gross margins of 24% and a return on equity of 16%.
Record Home Closures
Closed a third quarter record of 2,296 homes, a 1% increase from the previous year.
Mortgage and Title Operations Success
Mortgage and title operations achieved a pre-tax income increase of 28% from last year, capturing 93% of business.
Improved Cycle Time
Cycle time improved by about ten days compared to last year and this year's first quarter.
Strong Balance Sheet
Ended the quarter with $3.1 billion of equity, a book value per share of $120 (up 15% from last year), and zero borrowings under a $900 million unsecured line.