Pultegroup Stock Price, News & Analysis

PulteGroup, Inc. (NYSE: PHM) has declared a quarterly cash dividend of $0.14 per common share, payable on October 5, 2021, to shareholders of record as of the close of business on September 20, 2021. This announcement highlights the company's commitment to returning value to its shareholders while maintaining strong operations across over 40 markets nationwide.

PulteGroup, Inc. (NYSE: PHM) has updated its closing guidance due to ongoing supply chain disruptions affecting homebuilding. The company anticipates a 8% increase in third quarter closings to 7,000 homes, and a 19% to 21% rise for the full year, totaling 29,250 to 29,750 homes. However, challenges persist with building product shortages impacting quality and timelines. Due to these factors, gross margin is now expected between 26.4% and 26.6%, with SG&A at 9.9% of home sale revenues. The full third quarter results will be reported on October 26, 2021.

PulteGroup (NYSE: PHM) enhances customer experience by introducing MINE x Pulte, an online interior design service allowing homebuyers to purchase furniture and décor featured in model homes. This initiative simplifies the shopping process for customers, enabling them to replicate the designer look at home without hiring an interior designer. Homebuyers can scan QR codes at model homes to access curated collections on MINE's website. PulteGroup's design team focuses on functionality and style, connecting buyers with products that suit their needs.

PulteGroup (NYSE: PHM) reported strong Q2 2021 results with a net income of $503 million, or $1.90 per share, compared to $349 million, or $1.29 per share, last year. Adjusted net income was $456 million, or $1.72 per share. Home sale revenues surged by 31% to $3.2 billion, driven by a 22% increase in closings to 7,232 homes. The gross margin improved to 26.6%, up 270 basis points year-over-year. The backlog exceeded 20,000 homes valued at $9.8 billion, signaling future growth.

Invitation Homes (NYSE: INVH) and PulteGroup (NYSE: PHM) have formed a strategic alliance to enhance single-family home leasing. Over the next five years, Invitation Homes anticipates purchasing around 7,500 newly constructed homes from PulteGroup, tailored for leasing purposes. Initial agreements include over 1,000 homes across seven communities, with first sales expected in 2022. The collaboration aims to meet the rising demand for rental homes, focusing on quality and location, benefiting both companies in their respective markets.

PulteGroup (NYSE: PHM) and Invitation Homes (NYSE: INVH) have formed a strategic relationship to design and build approximately 7,500 new homes over the next five years. This initiative aims to enhance Invitation Homes' single-family rental portfolio, with over 1,000 homes already agreed upon for construction in seven communities, primarily in Florida, Georgia, Southern California, North Carolina, and Texas. PulteGroup's CEO, Ryan Marshall, expressed optimism about leveraging their strengths in community development for higher returns.

PulteGroup (NYSE: PHM) announces the promotion of Tony Nason to president of its newly established Northeast Florida division, effective July 1, 2021. Nason will oversee homebuilding operations in Jacksonville, a move aimed at enhancing local focus and expansion opportunities. Under his leadership, the Jacksonville team has achieved notable growth, delivering over 500 homes annually and managing a land pipeline of 4,000 lots. Nason, who has extensive experience in operations and finance, previously served as vice president of operations and finance in North Florida.