Pultegroup, Inc. · NYSE:PHM
Pultegroup — Q1 2019 Earnings Presentation
11 slides from Pultegroup's earnings presentation, Apr 23, 2019
Slide 1: Report on 2019 First Quarter Operating and Financial Results
Report on 2019 First Quarter 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 Q1 2019 Results
Review of Q1 2019 Results 3
Slide 5: Q1 2019 Financial Highlights
Q1 2019 Financial Highlights Net income of $0.59 per share, Home Sale Revenues ($B) unchanged from prior year $3.5 2018 2019 $3.0 Home sale revenues increased 2% to $1.9 billion $2.5 ASP increased 2% to $421,000 $2.0 Closings increased to 4,635 homes $1.5 Home sale gross margin of 23.4% $1
Slide 6: Q1 2019 Financial Highlights: Net New Orders and Backlog
Q1 2019 Financial Highlights Buyer interest high as traffic to $3.5 Value of Net New Orders ($B) 2018 2019 communities up 12% over 2018 $3.0 Net new orders of 6,463 homes, $2.5 down 6% from prior year $2.0 $1.5 Trends improved sequentially as $1.0 quarter progressed $0.5 Net new order value
Slide 7: Defined Land Strategy
Defined Land Strategy Breakdown of Owned Lot Pipeline (as of 3/31/19) ~149,000 lots under control 80,000 39% held via option 70,000 Owned lot position down to 3.9 60,000 Active Adult years, or 3.3 years excluding 50,000 Del Webb legacy lots 40,000 Move Up Q1 land acquisition spend 30,000 inc
Slide 8: Q1 2019 Financial Highlights: Cash and Capital Returns
Q1 2019 Financial Highlights Company ended Q1 with $1.1 $1,200 Routinely Returning Capital billion of cash Share Repurchase Dividends Paid Debt-to-total capital ratio down $1,000 to 38.0% $800 Net debt-to-total capital ratio of 28.3% $600 $56 million returned to share- $400 holders through d
Slide 9: Selected Financial Data
Q1 2019 Selected Financial Data Three Months Ended March 31, 2019 2018 Home Sale Revenues ($ millions) $1,950 $1,912 Home Sale Gross Margin 23.4% 23.6% Net Income ($ millions) $167 $171 Earnings Per Share $0.59 $0.59 Backlog (Units) 10,550 11,245 Backlog Value ($ millions) $4,622 $4,961 8
Slide 10: Selected Balance Sheet Data
Q1 2019 Selected Balance Sheet Data March 31, 2019 December 31, 2018 ($ millions) ($ millions) Cash and Equivalents $1,081 $1,134 (including restricted cash) House and Land Inventory $7,507 $7,253 Notes Payable $3,024 $3,028 Shareholders’ Equity $4,933 $4,818 Debt – to – Total Capital Ratio 38.0% 38
Slide 11: First Quarter 2019 Earnings
First Quarter 2019 Earnings 10