Categories Earnings, Industrials

PulteGroup, Inc. (PHM): Q4 2019 Earnings Snapshot

—  PulteGroup, Inc. (NYSE: PHM) reported earnings of $1.14 per share in the fourth-quarter 2019, vs. $0.1.09 per share expected.

— Total revenue edged up 0.6% $3.02 billion, vs. $2.98 billion expected. Home sale revenues for Q4 increased 1% to $2.9 billion, reflecting a 2% spike in closings to 6,822 homes, partially offset by about a 1% decrease in ASP.

— Net new orders for the quarter increased 33%, while unit backlog rose 20%.

— Acquired the assets of Innovative Construction Group (ICG), an off-site solutions provider. ICG will remain a stand-alone operation.

— PHM stock ended its last trading session up 1.35% on Monday.  

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