PulteGroup tops Street 4Q forecasts

Markets Associated Press

PulteGroup Inc. (PHM) on Thursday reported fourth-quarter earnings of $273.2 million.

Continue Reading Below

The Atlanta-based company said it had profit of 83 cents per share. Earnings, adjusted for non-recurring gains, were 67 cents per share.

The results beat Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of 58 cents per share.

The homebuilder posted revenue of $2.49 billion in the period, also exceeding Street forecasts. Five analysts surveyed by Zacks expected $2.33 billion.

For the year, the company reported profit of $602.7 million, or $1.75 per share. Revenue was reported as $7.67 billion.

PulteGroup shares have risen 11 percent since the beginning of the year, while the Standard & Poor's 500 index has climbed almost 3 percent. The stock has climbed 28 percent in the last 12 months.

Continue Reading Below

_____

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 https://www.zacks.com/ap/PHM

_____

Keywords: PulteGroup, Earnings Report