Pultegroup, Inc. · NYSE:PHM
Pultegroup — Q1 2014 Earnings Presentation
10 slides from Pultegroup's earnings presentation, Apr 24, 2014
Slide 1: PulteGroup, Inc. Summary of Financial Results First Quarter 2014
PulteGroup, Inc. Summary of Financial Results First Quarter 2014
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 Q1 2014 Financial Results
Review of Q1 2014 Financial Results 3
Slide 5: Q1 2014 Highlights
Q1 2014 Highlights Pretax income up 58% to $130 Average selling price up 10% to million $317,000 Net income of $75 million, or YOY prices rise across all 3 $0.19 per share brands: Q1 gross margin of 23.8%; up Centex up 5% to $203,000 580 basis points over prior year Pulte Homes: up 13%
Slide 6: Sustained Gross Margin Expansion
Sustained Gross Margin Expansion 5
Slide 7: Balance Sheet Strength and Flexibility
Balance Sheet Strength and Flexibility Q1 activities: Debt-to-Cap Ratio Put 9,700 lots under control; invested $325 million in land acquisition and development Retired $246 million of debt in Q1 • Total debt outstanding of $1.8 billion Repurchased 2.2 million shares for $45 million Quarter
Slide 8: Q1 2014 Selected Financial Data
Q1 2014 Selected Financial Data Three Months Ended March 31, 2014 2013 Homebuilding Home Sale Revenues ($ millions) $1,088 $1,100 Homebuilding Pretax Income ($ millions) $108 $68 Backlog (Units) 7,199 7,825 Backlog (Dollar Value in millions) $2,422 $2,414 Financial Services Pretax Income ($ millions
Slide 9: Q1 2014 Balance Sheet Data
Q1 2014 Balance Sheet Data March 31, December 31, ($ millions) 2014 2013 Cash and Equivalents $1,344 $1,653 (including restricted cash) House and Land Inventory $4,034 $3,979 Senior Notes $1,814 $2,058 Shareholders’ Equity $4,664 $4,649 Debt – to – Capitalization 28% 31% 8
Slide 10: BPutteroup
BPutteroup