Pultegroup, Inc. · NYSE:PHM
Pultegroup — Q4 2013 Earnings Presentation
12 slides from Pultegroup's earnings presentation, Jan 30, 2014
Slide 1: PulteGroup, Inc. Summary of Financial Results Fourth Quarter 2013
PulteGroup, Inc. Summary of Financial Results Fourth Quarter 2013
Slide 2: Forward-Looking Statements
Forward-Looking Statements This presentation includes “forward-looking statements.” These statements are subject to a number of risks, uncertainties and other factors that could cause our actual results, performance, prospects or opportunities, as well as those of the markets we serve or intend to s
Slide 3: PulteGroup, Inc. Executives
PulteGroup, Inc. Executives Richard Bob Jim Jim Dugas O’Shaughnessy Ossowski Zeumer Chairman, Executive Vice President, Vice President, President Vice President Finance and Investor Relations and CEO and CFO Controller and Corporate Communications 2
Slide 4: Review of Q4 2013 Financial Results
Review of Q4 2013 Financial Results 3
Slide 5: Q4 2013 Highlights
Q4 2013 Highlights Net income of $220 million, or YOY prices rise across all 3 $0.57 per share brands: Reported Q4 gross margin of Centex up 6% to $210,000 23.2%; up 610 basis points over Pulte Homes: up 13% to $387,000 prior year Del Webb up 11% to $314,000 Adjusted gross margin of 27
Slide 6: Sustained Gross Margin Expansion
Sustained Gross Margin Expansion Home Sale Gross Margin 25% 23.2% 23% 20.9% 21% 18.8% 19% 18.0% 17.1% 17% 15% Q4'12 Q1'13 Q2'13 Q3'13 Q4'13 5
Slide 7: Balanced Capital Allocation
Balanced Capital Allocation Balance sheet provides strength and Debt-to-Cap Ratio 70% flexibility Year end debt-to-cap of 31%, down from 60% 53% in prior year 50% End of year cash of $1.7 billion, a sequential gain of $234 million from Q3 40% Q4 land investment of $361 million • 2013 land in
Slide 8: Q4 2013 Selected Financial Data
Q4 2013 Selected Financial Data Three Months Ended December 31, 2013 2012 Homebuilding Home Sale Revenues ($ millions) $1,613 $1,482 Homebuilding Pretax Income ($ millions) $226 $75 Backlog (Units) 5,772 6,458 Backlog (Dollar Value in millions) $1,902 $1,932 Financial Services Pretax Income (Loss) (
Slide 9: Q4 2013 Balance Sheet Data
Q4 2013 Balance Sheet Data December 31, December 31, ($ millions) 2013 2012 Cash and Equivalents $1,653 $1,477 (including restricted cash) House and Land Inventory $3,979 $4,214 Senior Notes $2,058 $2,510 Shareholders’ Equity $4,649 $2,190 Debt – to – Cap 31% 53% Net Debt – to – Cap (adjusted for ca
Slide 10: Supplemental Mortgage Data
Supplemental Mortgage Data 9
Slide 11: Gross Loan Repurchase Requests Per Month
Gross Loan Repurchase Requests Per Month Over 60% of gross loan repurchase requests are successfully refuted or cured by our mortgage operations. Requests undergo extensive analysis to verify exposure, attempt to correct the underlying issue and, when needed, confirm liability. Gross Monthly Loan
Slide 12: BPutteroup
BPutteroup