PulteGroup misses 1Q profit and revenue expectations
PulteGroup Inc. (PHM) on Thursday reported first-quarter profit of $55 million.
On a per-share basis, the Atlanta-based company said it had profit of 15 cents.
The results did not meet Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of 20 cents per share.
The homebuilder posted revenue of $1.13 billion in the period, which also did not meet Street forecasts. Seven analysts surveyed by Zacks expected $1.27 billion.
PulteGroup shares have increased 1 percent since the beginning of the year, while the Standard & Poor's 500 index has increased slightly more than 2 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. Access a Zacks stock report on PHM at http://www.zacks.com/ap/PHM
Keywords: PulteGroup, Earnings Report