Why Is PulteGroup (PHM) Down 3.8% Since Last Earnings Report?

Zacks11-22

A month has gone by since the last earnings report for PulteGroup (PHM). Shares have lost about 3.8% in that time frame, underperforming the S&P 500. Will the recent negative trend continue leading up...

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Shares have lost about 3.8% in that time frame, underperforming the S&P 500.\nWill the recent negative trend continue leading up...</p>\n\n<a href=\"https://finance.yahoo.com/news/why-pultegroup-phm-down-3-163036445.html\">Source Link</a>\n\n</div>\n","source":"yahoofinance","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Why Is PulteGroup (PHM) Down 3.8% Since Last Earnings Report?</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWhy Is PulteGroup (PHM) Down 3.8% Since Last Earnings Report?\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-11-22 00:30 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/why-pultegroup-phm-down-3-163036445.html><strong>Zacks</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>A month has gone by since the last earnings report for PulteGroup (PHM). Shares have lost about 3.8% in that time frame, underperforming the S&P 500.\nWill the recent negative trend continue leading up...</p>\n\n<a href=\"https://finance.yahoo.com/news/why-pultegroup-phm-down-3-163036445.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"PHM","symbol_name":"普得集团","start_time":0,"source_url":"https://finance.yahoo.com/news/why-pultegroup-phm-down-3-163036445.html","article_id":"2485451494","we_media_id":null,"thumbnails":["https://s.yimg.com/uu/api/res/1.2/CorpxfcSD3xaruoFanouDg--~B/aD00NzY7dz05MDA7YXBwaWQ9eXRhY2h5b24-/https://media.zenfs.com/en/zacks.com/ace7df31c7fcb10255abe7c990ea373a"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2485451494","pubTimestamp":1732206636,"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":"A month has gone by since the last earnings report for PulteGroup . Shares have lost about 3.8% in that time frame, underperforming the S&P 500.Will the recent negative trend continue leading up to its next earnings release, or is PulteGroup due for a breakout?Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important catalysts.PHM reported earnings of $3.35 per share, which topped the Zacks Consensus Estimate of $3.10 by 8.1% and increased 16% from $2.90 reported a year ago.Total revenues of $4.48 billion also surpassed the consensus mark of $4.26 billion by 5.1% and increased 12% from the year-ago figure of $4 billion.","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":["earning"],"viewcount":null,"language":"en","relate_stocks":{"PHM":"普得集团"},"translate_title":"为什么PulteGroup(PHM)自上次收益报告以来下跌了3.8%？","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"PHM":1},"content_text":"A month has gone by since the last earnings report for PulteGroup (PHM). Shares have lost about 3.8% in that time frame, underperforming the S&P 500.\nWill the recent negative trend continue leading up to its next earnings release, or is PulteGroup due for a breakout? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important catalysts. \nPulteGroup's Q3 Earnings & Revenues Beat Estimates\nPulteGroup Inc. reported impressive results in the third quarter of 2024, wherein earnings and total revenues handily beat the Zacks Consensus Estimate and grew year over year.The quarter’s result reflects the successful execution of the company’s balanced spec and build-to-order operating model. This, alongside the structural shortage of homes from years of underbuilding, continued to favor the company. Thanks to such tailwinds, the home closings during the quarter grew year over year resulting in record third-quarter home sale revenues.Furthermore, PHM invested about $1.4 billion into its business during the quarter, while returning more than $360 million to its shareholders and generating a return on equity of 27% over the past 12 months.The Fed’s turn on lowering interest rates in the latter half of September has sparked momentum in the homebuilding industry as this tool is expected to address the affordability challenges faced by homebuyers. PulteGroup is optimistic about the upcoming market trends and expects to deliver strong earnings in 2024.\nInside PHM’s Headlines\nPHM reported earnings of $3.35 per share, which topped the Zacks Consensus Estimate of $3.10 by 8.1% and increased 16% from $2.90 reported a year ago.Total revenues of $4.48 billion also surpassed the consensus mark of $4.26 billion by 5.1% and increased 12% from the year-ago figure of $4 billion.\nSegmental Discussion of PulteGroup\nPulteGroup primarily operates through two business segments — Homebuilding and Financial Services.Homebuilding: Revenues from this segment were up 12% year over year to $4.3 billion. The increase in home sale revenues was primarily driven by growth in the number of homes closed. Land sale and other revenues declined to $19.3 million from $39.9 million a year ago.The number of homes closed increased 12% to 7,924 units from the year-ago level. The average selling price of homes delivered was $548,000, almost flat year over year.Net new home orders marginally declined 0.5% year over year to 7,031 units. Yet, the value of new orders rose 2.9% from a year ago to $3.93 billion. PHM’s backlog, which represents orders yet to be closed, was 12,089 units, down 10.8% year over year. In addition, potential housing revenues from the backlog were down year over year to $7.69 billion from $8.13 billion.Home sales gross margin was down 70 basis points (bps) year over year to 28.8%. SG&A expenses (as a percentage of home sales revenues) increased 30 bps to 9.4% from 9.1% a year ago.Financial Services: Revenues from this segment increased 48.4% year over year to $113.8 million. Pretax income for the segment increased 90% to $55 million from the year-ago figure of $29 million. The increase in pre-tax income reflects the benefit of higher volumes in PulteGroup’s homebuilding operations paired with a favorable operating environment.\nPHM’s Financials\nAt the end of the third quarter, PulteGroup’s cash, cash equivalents and restricted cash were $1.46 billion, down from $1.85 billion at the end of 2023. Net debt-to-capital was 1.4% at the third-quarter end, up from 1.1% at 2023-end.Net cash provided by operating activities was $1.11 billion in the first nine months of 2024 compared with $1.91 billion in the prior-year period. In the reported quarter, the company repurchased 2.5 million common shares for $320 million at an average price of $126.05 per share.\nGuidance\nFor fourth-quarter 2024, the company expects closing 7,900-8,300 homes, depicting a growth from 7,615 homes closed in the year-ago period. The company expects the ASP of the closed units to be $555,000-$565,000, compared with an ASP of $547,000 reported a year ago. The gross margin in fourth quarter is expected to be in 27.5-27.8% range, down from 28.9% year over year.PHM expect tax rate between 24% and 24.5% in fourth quarter, excluding the impact of any potential incremental energy tax credit purchases. It also projects nearly 950 average community count for fourth quarter, which represent an increase of 3% over last year.For 2024, the company expects closing nearly 31,000 homes. Gross margin is expected to be nearly 29%, SG&A expenses within 9.2-9.5% of home sales.\nHow Have Estimates Been Moving Since Then?\nIn the past month, investors have witnessed a downward trend in estimates revision.\nThe consensus estimate has shifted -5.3% due to these changes.\nVGM Scores\nAt this time, PulteGroup has a nice Growth Score of B, though it is lagging a lot on the Momentum Score front with a D. However, the stock was allocated a grade of B on the value side, putting it in the top 40% for this investment strategy.\nOverall, the stock has an aggregate VGM Score of B. If you aren't focused on one strategy, this score is the one you should be interested in.\nOutlook\nEstimates have been broadly trending downward for the stock, and the magnitude of these revisions indicates a downward shift. Notably, PulteGroup has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.\nWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report\nPulteGroup, Inc. (PHM) : Free Stock Analysis Report\nTo read this article on Zacks.com click here.\nZacks Investment Research","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2485451494"}