PulteGroup(PHM)2025-04-22 11:38Financial Performance - PulteGroup reported net income of 2.57 per share, for Q1 2025, down from 3.10 per share, in the prior year[2][19]. - Net income for the three months ended March 31, 2025, was 662,976 in the same period of 2024[24]. - Total Homebuilding revenues decreased to 3,856,803 year-over-year[26]. - Home sale revenues were 3,819,586 in the prior year[28]. - The financial services segment reported pre-tax income of 41 million in the prior year[10]. Sales and Orders - Home sale revenues totaled 570,000, offset by a 7% decrease in closing volume to 6,583 homes[5][6]. - Net new orders for the quarter totaled 7,765 homes valued at 4.7 billion in the prior year[9]. - Net new orders in units decreased to 7,765, down 7.3% from 8,379 units year-over-year[28]. Backlog and Inventory - The unit backlog at the end of the quarter was 11,335 homes with a value of 393 million, or 10.5% of home sale revenues, compared to 1.3 billion and a debt-to-capital ratio of 11.7%[11]. - The debt-to-capital ratio as of March 31, 2025, was 11.7%, slightly down from 11.8% at the end of 2024[35]. - Cash, cash equivalents, and restricted cash at the end of the period totaled 1,766,089 at the end of the same period last year[24]. - Net cash provided by operating activities was 239,787 in the same quarter of 2024[24]. Share Repurchase - PulteGroup repurchased 108.03 per share, with $1.9 billion remaining under its share repurchase authorization[11]. Market Outlook - PulteGroup remains optimistic about long-term housing demand despite short-term consumer demand challenges due to economic uncertainty[4]. Mortgage Performance - The capture rate for mortgage originations improved to 86.4%, compared to 84.2% in the prior year[30].