Pultegroup, Inc. · NYSE:PHM
Pultegroup — Q3 2019 Earnings Presentation
13 slides from Pultegroup's earnings presentation, Oct 22, 2019
Slide 1: Report on Third Quarter 2019 Operating and Financial Results
Report on Third Quarter 2019 Operating and Financial 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 2019 Results
Review of Q3 2019 Results 3
Slide 5: Q3 2019 Financial Highlights
Q3 2019 Financial Highlights Reported Q3 earnings of $0.99 per Home Sale Revenues ($B) share; adjusted earnings of $1.01 per share Adjusted earnings exclude a $9 million pre-tax warranty charge related to a closed-out community Prior year reported earnings were $1.01 per share Home sale reve
Slide 6: Q3 2019 Financial Highlights
Q3 2019 Financial Highlights Net new orders increased 13% to Net New Orders 6,031 homes Q1 Q2 Q3 Q4 Highest Q3 order rate in over a 2018 6,875 6,341 5,350 4,267 decade 2019 6,463 6,792 6,031 - Change -6% 7% 13% - 13% increase over prior year is largest percentage gain since 2017 Unit Backlog
Slide 7: Increasing Presence Among First-Time Buyers
Increasing Presence Among First-Time Buyers Lots Under Control by Buyer Group 34% of lots under control target first-time buyers Q3 land acq. & development investment of $693 million Approved new deals in the third quarter that control 8,800 Lots Under Control 161,000 lots under control 42
Slide 8: Financial Strength and Flexibility
Financial Strength and Flexibility Debt-to-total capital ratio down Returning Capital to Shareholders to 34.6% $769 million of cash and net debt- to-total capital ratio of 27.6% $337 million returned to share- holders through dividends and share repurchases in the first nine months of 2019 7
Slide 9: Q3 2019 Selected Financial Data
Q3 2019 Selected Financial Data Three Months Ended September 30, 2019 2018 Home Sale Revenues ($ millions) $2,637 $2,572 Home Sale Gross Margin 23.1% 24.0% Adjusted Home Sale Gross Margin 23.4% 24.0% Reported Net Income ($ millions) $273 $290 Reported Diluted Earnings Per Share $0.99 $1.01 Adjusted
Slide 10: Q3 2019 Selected Balance Sheet Data
Q3 2019 Selected Balance Sheet Data September 30, 2019 December 31, 2018 ($ millions) ($ millions) Cash and Equivalents $769 $1,134 (including restricted cash) House and Land Inventory $7,830 $7,253 Notes Payable $2,744 $3,028 Shareholders’ Equity $5,182 $4,818 Debt – to – Total Capital Ratio 34.6%
Slide 11: Appendix
Appendix 10
Slide 12: Reconciliation of Non-GAAP Financial Measures (Unaudited)
PulteGroup, Inc. Reconciliation of Non-GAAP Financial Measures (Unaudited) This report contains information about our operating results reflecting certain adjustments, including: adjustments to gross margin; income tax expense; net income; and diluted earnings per share ("EPS"). These measures are c
Slide 13: Third Quarter 2019 Earnings
Third Quarter 2019 Earnings 12