PulteGroup Fourth Quarter 2012 Numbers | ||
Quarter Four | Twelve Months | |
Profit/(Loss) | $ 58.7 M +325% | $147.4 M +1,980% |
Home Deliveries | 5,154 +19.8% | 16,505 +8% |
New Orders | 3,926 +27.3% | 19,039 +25.1% |
Behind the Numbers:
PulteGroup turned in a strong quarter and year-end results that show the company is operating more efficiently and generating strong cash flow and wider profit margins. Its home sales were hampered some for the year by 4% fewer communities to sell from, something PulteGroup plans to remedy in the new year as it adds an extra $250 million for land buys, boosting its total land budget to $1.2 billion. With $1.5 billion in cash in its bank and a low debt ratio, the company has plenty of financial power for expansion as the market improves. One cloud in the report was $32 million set aside to buy back home loans that went bad.
PulteGroup’s fiscal year ended Dec. 31.
