Pultegroup, Inc. · NYSE:PHM
Pultegroup — Q4 2020 Earnings Presentation
14 slides from Pultegroup's earnings presentation, Jan 28, 2021
Slide 1: Q4 2020 Operating & Financial Results
Q4 2020 Operating & Financial Results January 28, 2021
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 Call Participants
PulteGroup Call Participants Ryan Bob Jim Jim Marshall O’Shaughnessy Ossowski Zeumer President & CEO Executive Senior Vice Vice President, Vice President President, Investor and CFO Finance Relations 2
Slide 4: Operating & Financial Highlights
Q4 2020 Operating & Financial Highlights
Slide 5: Financial Highlights
Q4 2020 Financial Highlights Q4 reported earnings of $1.62 per Home sale revenues increased 5% to share $3.1 billion Q4 adjusted earnings of $1.49 per ASP increased 4% to $446,000 led by gains in move-up and active-adult share up 31% over prior year Closings increased 1% to 6,860 homes adj
Slide 6: Financial Highlights: Net New Orders and Backlog
Q4 2020 Financial Highlights Net new orders increased 18,000 Unit Backlog 2019 2020 24% to 7,056 homes 15,000 Value of net new orders 12,000 increased 33% to $3.3 billion 9,000 Unit backlog of 15,158 homes 6,000 valued at $6.8 billion 3,000 0 Q1 Q2 Q3 Q4 Net New Orders Q1 Q2 Q3 Q4 2019 6,463 6,
Slide 7: Achieving Strategic Land Investment Goals
Achieving Strategic Land Investment Goals Lots Under Control Q4 2020 land acq. & dev. investment 200,000 Owned Optioned 175,000 of $942 million 150,000 Company invested $2.9 billion in land 125,000 100,000 acq. & dev. in 2020 75,000 Targeting 2021 land investment of $3.7 50,000 billion 25,000
Slide 8: Enhanced Liquidity and Financial Flexibility
Enhanced Liquidity and Financial Flexibility Debt-to-Total Capitalization Quarter end cash balance of $2.6 billion 45% Q4 debt-to-total capitalization of 29.5%; 40% down from prior year’s 33.6% 35% Repurchased $75 million of common 30% shares in Q4 and $171 million in 2020 25% 20% Company an
Slide 9: Selected Financial Data
Q4 2020 Selected Financial Data Three Months Ended December 31, 2020 2020 2019 Change Home Sale Revenues ($ millions) $3,062 $2,925 5% Gross Margin Percentage 25.0% 22.8% 220 bps SG&A Percent of Home Sale Revenues 9.1% 8.9% 20 bps Adjusted SG&A Percent of Home Sale Revenues 9.7% 10.0% (30 bps) Finan
Slide 10: Selected Balance Sheet Data
Q4 2020 Selected Balance Sheet Data December 31, 2020 December 31, 2019 ($ millions) ($ millions) Cash and Equivalents $2,632 $1,251 (including restricted cash) House and Land Inventory $7,722 $7,681 Notes Payable $2,752 $2,765 Shareholders’ Equity $6,570 $5,458 Debt – to – Total Capital Ratio 29.5%
Slide 11: Appendix: Non-GAAP Reconciliation
Appendix Non-GAAP Reconciliation
Slide 12: Reconciliation of Non-GAAP Financial Measures
PulteGroup, Inc. Reconciliation of Non-GAAP Financial Measures (Unaudited) This report contains information about our operating results reflecting certain adjustments, including net income, diluted earnings per share, and operating margin. These measures are considered non-GAAP financial measures un
Slide 13: Other Reconciliations
Other Reconciliations Three Months Ended December 31, 2020 2019 Home sale revenues $ 3,062,443 $ 2,925,288 Gross margin (a) $ 764,434 25.0 % $ 666,157 22.8 % SG&A, as reported $ 279,656 9.1 % $ 261,545 8.9 % Insurance-related reserves 16,319 0.5 % 31,099 1.1 % Adjusted SG&A $ 295,975 9.7 % $ 292,644
Slide 14: Q4 2020 Financial Results
Q4 2020 Financial Results