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Compared to Estimates, PulteGroup (PHM) Q2 Earnings: A Look at Key Metrics
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PulteGroup (PHM - Free Report) reported $4.19 billion in revenue for the quarter ended June 2023, representing a year-over-year increase of 6.7%. EPS of $3.00 for the same period compares to $2.73 a year ago.
The reported revenue represents a surprise of +5.90% over the Zacks Consensus Estimate of $3.96 billion. With the consensus EPS estimate being $2.47, the EPS surprise was +21.46%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how PulteGroup performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Average Selling Price - Total: $540 compared to the $532.04 average estimate based on five analysts.
Net New Orders in Units - Total: 7947 versus the five-analyst average estimate of 7138.37.
Unit Backlog - Total: 13558 compared to the 13067.26 average estimate based on five analysts.
Closings (units) - Total: 7518 versus 7200.31 estimated by five analysts on average.
Active Communities: 903 versus the four-analyst average estimate of 900.
Net New Orders (Value) - Total: $4.27 billion compared to the $3.72 billion average estimate based on two analysts.
Backlog Value - Total: $8.19 billion compared to the $7.90 billion average estimate based on two analysts.
Homebuilding- Home sale revenues: $4.06 billion versus $3.83 billion estimated by six analysts on average. Compared to the year-ago quarter, this number represents a +6.5% change.
Revenues- Financial Services: $92.22 million versus $68.50 million estimated by six analysts on average. Compared to the year-ago quarter, this number represents a +11.4% change.
Revenues- Homebuilding: $4.10 billion compared to the $3.85 billion average estimate based on six analysts. The reported number represents a change of +6.6% year over year.
Homebuilding- Land sale revenues: $37.60 million versus the five-analyst average estimate of $31.70 million. The reported number represents a year-over-year change of +11.2%.
Income / (loss) before income taxes- Homebuilding: $906.52 million versus $703.87 million estimated by four analysts on average.
Shares of PulteGroup have returned +3.3% over the past month versus the Zacks S&P 500 composite's +4.9% change. The stock currently has a Zacks Rank #1 (Strong Buy), indicating that it could outperform the broader market in the near term.
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Compared to Estimates, PulteGroup (PHM) Q2 Earnings: A Look at Key Metrics
PulteGroup (PHM - Free Report) reported $4.19 billion in revenue for the quarter ended June 2023, representing a year-over-year increase of 6.7%. EPS of $3.00 for the same period compares to $2.73 a year ago.
The reported revenue represents a surprise of +5.90% over the Zacks Consensus Estimate of $3.96 billion. With the consensus EPS estimate being $2.47, the EPS surprise was +21.46%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how PulteGroup performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Average Selling Price - Total: $540 compared to the $532.04 average estimate based on five analysts.
- Net New Orders in Units - Total: 7947 versus the five-analyst average estimate of 7138.37.
- Unit Backlog - Total: 13558 compared to the 13067.26 average estimate based on five analysts.
- Closings (units) - Total: 7518 versus 7200.31 estimated by five analysts on average.
- Active Communities: 903 versus the four-analyst average estimate of 900.
- Net New Orders (Value) - Total: $4.27 billion compared to the $3.72 billion average estimate based on two analysts.
- Backlog Value - Total: $8.19 billion compared to the $7.90 billion average estimate based on two analysts.
- Homebuilding- Home sale revenues: $4.06 billion versus $3.83 billion estimated by six analysts on average. Compared to the year-ago quarter, this number represents a +6.5% change.
- Revenues- Financial Services: $92.22 million versus $68.50 million estimated by six analysts on average. Compared to the year-ago quarter, this number represents a +11.4% change.
- Revenues- Homebuilding: $4.10 billion compared to the $3.85 billion average estimate based on six analysts. The reported number represents a change of +6.6% year over year.
- Homebuilding- Land sale revenues: $37.60 million versus the five-analyst average estimate of $31.70 million. The reported number represents a year-over-year change of +11.2%.
- Income / (loss) before income taxes- Homebuilding: $906.52 million versus $703.87 million estimated by four analysts on average.
View all Key Company Metrics for PulteGroup here>>>Shares of PulteGroup have returned +3.3% over the past month versus the Zacks S&P 500 composite's +4.9% change. The stock currently has a Zacks Rank #1 (Strong Buy), indicating that it could outperform the broader market in the near term.