PulteGroup Inc. (PHM) on Tuesday reported first-quarter profit of $91.5 million.
On a per-share basis, the Atlanta-based company said it had profit of 28 cents. Earnings, adjusted for non-recurring costs, came to 31 cents per share.
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The results exceeded Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 28 cents per share.
The homebuilder posted revenue of $1.63 billion in the period, which missed Street forecasts. Six analysts surveyed by Zacks expected $1.77 billion.
PulteGroup shares have increased 26 percent since the beginning of the year, while the Standard & Poor's 500 index has climbed 6 percent. The stock has increased 21 percent in the last 12 months.
This story was generated by Automated Insights using data from Zacks Investment Research. Access a Zacks stock report on PHM at https://www.zacks.com/ap/PHM
Keywords: PulteGroup, Earnings Report