PulteGroup
The 10-second takeaway
For the quarter ended June 30 (Q2), PulteGroup missed estimates on revenues and beat expectations on earnings per share.
Compared to the prior-year quarter, revenue increased significantly and GAAP earnings per share increased.
Margins increased across the board.
Revenue details
PulteGroup logged revenue of $1.07 billion. The 14 analysts polled by S&P Capital IQ wanted to see revenue of $1.10 billion on the same basis. GAAP reported sales were 15% higher than the prior-year quarter's $927.2 million.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS details
EPS came in at $0.11. The 18 earnings estimates compiled by S&P Capital IQ forecast $0.05 per share. GAAP EPS were $0.11 for Q2 against -$0.15 per share for the prior-year quarter.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
Margin details
For the quarter, gross margin was 16.1%, 550 basis points better than the prior-year quarter. Operating margin was 3.5%, 710 basis points better than the prior-year quarter. Net margin was 4.0%, 1,000 basis points better than the prior-year quarter.
Looking ahead
Next quarter's average estimate for revenue is $1.28 billion. On the bottom line, the average EPS estimate is $0.12.
Next year's average estimate for revenue is $4.60 billion. The average EPS estimate is $0.29.
Investor sentiment
The stock has a two-star rating (out of five) at Motley Fool CAPS, with 587 members out of 1,270 rating the stock outperform, and 683 members rating it underperform. Among 362 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 142 give PulteGroup a green thumbs-up, and 220 give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on PulteGroup is hold, with an average price target of $10.51.
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