PulteGroup Reports Solid Third-Quarter Results With New CEO at the Helm
PulteGroup reported solid third-quarter results, with home sale revenue and new order value growing 28.5% and 25% year over year, respectively. The no-moat homebuilder also reported year-over-year improvements in key leading indicators such as backlog units, total lot count, and community count. Robust new order growth and price increases caused PulteGroup’s backlog to increase nearly 8% in units and 20% in dollar value over the year-ago quarter. The homebuilder continues to buy land and open ne...PulteGroup through its subsidiaries is engaged in the homebuilding business. The company also has mortgage banking operations, conducted principally through its susidiary, Pulte Mortgage LLC, and title and insurance brokerage operations. The company's homebuilding business includes the acquisition and development of land primarily for residential purposes within the United States. The company provides a variety of home designs, including single-family detached, townhouses, condominiums, and duplexes at different prices and with varying levels of options and amenities to its customer groups: first-time, move-up, and active adult.
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