PulteGroup meets 3Q profit forecasts

Markets Associated Press

PulteGroup Inc. (PHM) on Thursday reported third-quarter earnings of $128.5 million.

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On a per-share basis, the Atlanta-based company said it had net income of 37 cents. Earnings, adjusted for non-recurring costs, were 43 cents per share.

The results met Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was also for earnings of 43 cents per share.

The homebuilder posted revenue of $1.94 billion in the period, which fell short of Street forecasts. Six analysts surveyed by Zacks expected $1.95 billion.

PulteGroup shares have increased 12 percent since the beginning of the year, while the Standard & Poor's 500 index has increased nearly 5 percent. The stock has risen 4 percent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on PHM at http://www.zacks.com/ap/PHM

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Keywords: PulteGroup, Earnings Report