PulteGroup (PHM) Q3 Earnings & Revenues Beat, Shares Up
Zacks Investment Research | Oct 21, 2019 11:11PM ET
PulteGroup Inc.’s (NYSE:PHM) shares gained 2.8% after it reported third-quarter 2019 results, wherein earnings and revenues surpassed the respective Zacks Consensus Estimate. Higher demand owing to favorable housing dynamics backed by lower interest rates and improved affordability had a positive impact on PulteGroup’s performance in the quarter.
The company remains confident about upbeat housing demand for the remainder of 2019, given expectations for lower interest rates, and improvement in macroeconomic backdrop.
Inside the Headlines
Earnings per share came in at $1.01, beating the consensus mark of 92 cents by 9.8%. The bottom line, however, was flat year over year.
Total revenues of $2.71 billion outpaced the consensus mark of $2.6 billion by 4.1% and increased 2.3% from the year-ago figure of $2.65 billion.
PulteGroup, Inc. Price, Consensus and EPS Surprise
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