Pultegroup, Inc. · NYSE:PHM
Pultegroup — Q3 2017 Earnings Presentation
13 slides from Pultegroup's earnings presentation, Oct 24, 2017
Slide 1: Report on 2017 Third Quarter Operating and Earnings Results
Report on 2017 Third Quarter Operating and Earnings Results
Slide 2: Forward-Looking Statements
Forward-Looking Statements This press release 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
Slide 3: PulteGroup Call Participants
PulteGroup Call Participants Ryan Bob Jim Jim Marshall O’Shaughnessy Ossowski Zeumer President and Executive Senior Vice Vice President, CEO Vice President President, Investor and CFO Finance Relations 2
Slide 4: Review of Q3 2017 Results
Review of Q3 2017 Results Butte
Slide 5: Q3 2017 Financial Highlights
Q3 2017 Financial Highlights Net new orders increased 8,000 Net New Orders 11% to 5,300 homes 7,000 2016 2017 Dollar value of net new orders 6,000 gained 23% to $2.3 billion 5,000 Unit backlog increased 15% 4,000 to 10,823 homes 3,000 Backlog value increased by 2,000 26% to $4.7 billion 1,00
Slide 6: Q3 2017 Financial Highlights
Q3 2017 Financial Highlights Reported Q3 EPS of $0.58 7,000 Quarterly Deliveries – Reported EPS includes pretax charge 2016 2017 6,000 of $5 million associated with resolution of certain insurance matters 5,000 Adjusted Q3 EPS of $0.60* up 4,000 40% over prior year 3,000 Home sale revenues inc
Slide 7: Continued Disciplined Approach to Land Investment
Continued Disciplined Approach to Land Investment Invested $295 million in Q3 for Lots Owned 110,000 7 land acquisition Lots Years Owned 100,000 Approved Q3 deals for 5,500 lots of 6 which 46% are controlled under options 90,000 Average size of communities approved 80,000 5 in Q3 was just over
Slide 8: Higher Prices Drive Homebuilder Revenues
Higher Prices Drive Homebuilder Revenues Average sales price of Q3 2017 Closings by Buyer Group homes closed increased 7%, or $25,000, to $399,000 25% 28% Average sales price gained across all buyer groups: First time up 5% to $293,000 Move Up and Luxury increased 5% 47% to $467,000 Active
Slide 9: Q3 2017 Selected Financial Data
Q3 2017 Selected Financial Data Three Months Ended September 30, 2017 * 2016 ** Change Home Sale Revenues ($ millions) $2,056 $1,882 9% Backlog (Units) 10,823 9,417 15% Backlog (Dollar Value in millions) $4,666 $3,699 26% Financial Services Pretax Income ($ millions) $18 $21 -14% Reported Net Income
Slide 10: Q3 2017 Selected Balance Sheet Data
Q3 2017 Selected Balance Sheet Data September 30, 2017 December 31, 2016 ($ millions) Cash and Equivalents $197 $723 (including restricted cash) House and Land Inventory $7,370 $6,771 Debt $3,193* $3,110 Shareholders’ Equity $4,345 $4,659 Debt – to – Capitalization 42% 40% * On October 16, 2017, the
Slide 11: Reconciliation of Non-GAAP Financial Measures
Reconciliation of Non-GAAP Financial Measures The following tables set forth a reconciliation of the non-GAAP financial measures to the GAAP financial measures that management believes to be most directly comparable ($000's omitted): Three Months Ended Three Months Ended September 30, 2017 September
Slide 12: Reconciliation of Non-GAAP Financial Measures
Reconciliation of Non-GAAP Financial Measures Three Months Ended September 30, 2017 June 30, 2017 Home sale revenues $ 2,055,891 $ 1,965,641 Home sale cost of revenues (1,564,605) (1,549,937) Home sale gross margin 491,286 415,704 Add: Impairments — 31,487 Warranty adjustment — 12,106 Adjusted home
Slide 13: Third Quarter 2017 Earnings
Third Quarter 2017 Earnings 12