PulteGroup Q2 home sale revenue falls 11% on lower closing volume, prices
PHM•Outlook
- Company says market conditions remain highly competitive with uncertainty and strained affordability.
- PulteGroup notes early signs of stabilization in select geographies.
- Company continues tactical adjustments to balance price and pace within communities.
Result drivers
- Lower closings and prices - Q2 home sale revenues declined due to an 8% drop in closing volumes and a 3% decrease in average sales price.
- Order growth - Net new orders rose 6% year over year, driven by higher community count and increased orders across all buyer groups.
Quarterly results
- U.S. homebuilder's Q2 home sale revenue fell 11% year over year on lower closings and prices.
- Q2 EPS dropped to $2.48 from $3.03 a year ago.
- Company repurchased $373 million of common shares in Q2.
Key details and analyst coverage
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