PulteGroup, Inc. is a U.S. homebuilder whose updates center on home sales, new orders, backlog, land acquisition and development, and market conditions across more than 45 markets. The company builds under brands including Pulte Homes, Centex, Del Webb, DiVosta Homes, and John Wieland Homes and Neighborhoods, serving entry-level, move-up and active-adult buyers.
Recurring news also covers dividends, share repurchase authorizations, board nominations, investor presentations, builder relationships and community expansion. PulteGroup also reports on mortgage financing, title and insurance agency services through its financial services segment.
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PulteGroup, Inc. (NYSE: PHM) has announced a 7% increase in its quarterly cash dividend to $0.16 per common share, effective January 3, 2023. This decision marks the fifth consecutive year of dividend increases, reflecting the company's commitment to returning value to shareholders. The dividend will be payable to shareholders of record by December 14, 2022. PulteGroup operates in over 40 markets, showcasing its versatility in addressing diverse consumer needs.
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PulteGroup, Inc. (NYSE: PHM) has launched its second off-site solutions manufacturing facility in Florence, South Carolina. This facility, part of its Innovative Construction Group (ICG), focuses on single-family and multi-family wood framed construction, enhancing production and distribution capabilities in the Southeast. The new operation utilizes advanced technology to provide efficient framing solutions, including design services and installation. This expansion is expected to cater to the increasing demand for new homes in key South Carolina markets such as Myrtle Beach, Charleston, and Columbia.
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Del Webb has begun construction on its latest community, Kensington Ridge, located in southeast Michigan. This active adult community will feature 611 homes designed for residents aged 55 and older, with prices starting in the $400s. Amenities will include a 15,000 sq. ft. clubhouse, a 43-acre lake, and numerous recreational facilities. The grand opening is planned for Spring 2023. Del Webb is a renowned brand under PulteGroup (NYSE: PHM), focused on building innovative homes for an active lifestyle.
PulteGroup, Inc. (NYSE: PHM) reported a strong third quarter for 2022, with net income rising 48% to $628 million or $2.69 per share, compared to $476 million or $1.82 per share last year. Revenues increased 16% to $3.8 billion, driven by a 15% rise in average sales price to $545,000. Gross margins improved by 360 basis points to 30.1%. However, net new orders fell 28% to 4,924 homes, and the cancellation rate spiked to 24%. The company repurchased $180 million worth of shares and ended the quarter with a debt-to-capital ratio of 22.5%.
PulteGroup, Inc. (NYSE: PHM) announces the retirement of John Chadwick, COO, in 2023. Brandon Jones, currently Senior VP of Field Operations, will take over as COO on January 1, 2023. Chadwick will assist during the transition until April 2023. Jones brings 18 years of experience at PulteGroup, having held various leadership roles across the company. He is recognized for navigating supply chain challenges and enhancing customer experiences.
PulteGroup operates in over 40 markets, focusing on diverse buyer needs.
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