PulteGroup beats 3Q profit expectations, meets revenue forecasts

MarketsAssociated Press

PulteGroup Inc. (PHM) on Thursday reported third-quarter net income of $140.5 million.

On a per-share basis, the Atlanta-based company said it had net income of 37 cents.

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The results beat Wall Street expectations. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of 36 cents per share.

The homebuilder posted revenue of $1.59 billion in the period, meeting Street forecasts.

PulteGroup shares have fallen almost 6 percent since the beginning of the year, while the Standard & Poor's 500 index has climbed slightly more than 4 percent. The stock has climbed 16 percent in the last 12 months.


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


Keywords:PulteGroup,Earnings Report