Pultegroup, Inc. · NYSE:PHM
Pultegroup — Q3 2014 Earnings Presentation
10 slides from Pultegroup's earnings presentation, Oct 23, 2014
Slide 1: PulteGroup, Inc. Summary of Financial Results Third Quarter 2014
PulteGroup, Inc. Summary of Financial Results Third 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 Q3 2014 Financial Results
Review of Q3 2014 Financial Results 3
Slide 5: Q3 2014 Highlights
Q3 2014 Highlights Q3 earnings of $0.37 per share Homebuilding Gross Margin Pretax income up 29% to $225 million Q3 gross margin of 22.9%; up 200 basis points over prior year Home sale revenues of $1.6 billion; up 4% over prior year Value of net new orders increased 3% to $1.3 billion 9 In
Slide 6: Q3 2014 Highlights
Q3 2014 Highlights LOTS UNDER CONTROL Average selling price up 8% to 160,000 $334,000: Owned Optioned 140,000 9 Centex essentially flat at $204,000 9 Pulte Homes up 11% to $410,000 120,000 9 Del Webb up 6% to $322,000 100,000 Backlog value of $2.6 billion, representing 7,934 homes 80,000 Q3 in
Slide 7: Balanced Allocation of Capital
Balanced Allocation of Capital Authorized land spend budget of $2.4 billion for 2015, an increase of $600-$700 million over expected full year 2014 spend Repurchased 2.7 million shares for $50 million Quarter-end cash of $1.2 billion Debt-to-capitalization ratio of 28% Board actions announ
Slide 8: Q3 2014 Selected Financial Data
Q3 2014 Selected Financial Data Three Months Ended September 30, 2014 2013 Homebuilding Home Sale Revenues ($ millions) $1,551 $1,492 Homebuilding Pretax Income ($ millions) $214 $164 Backlog (Units) 7,934 7,522 Backlog (Dollar Value in millions) $2,615 $2,433 Financial Services Pretax Income ($ mil
Slide 9: Q3 2014 Balance Sheet Data
Q3 2014 Balance Sheet Data September 30, December 31, ($ millions) 2014 2013 Cash and Equivalents $1,247 $1,653 (including restricted cash) House and Land Inventory $4,432 $3,979 Senior Notes $1,817 $2,058 Shareholders’ Equity $4,710 $4,649 Debt – to – Capitalization 28% 31% 8
Slide 10: Bputtecroup
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