PulteGroup tops Street 4Q forecasts

Economic IndicatorsAssociated Press

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

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

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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.

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

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Keywords: PulteGroup, Earnings Report