Pultegroup, Inc. · NYSE:PHM
Pultegroup — Q4 2017 Earnings Presentation
13 slides from Pultegroup's earnings presentation, Jan 30, 2018
Slide 1: Report on 2017 Fourth Quarter Operating and Financial Results
Report on 2017 Fourth 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 Q4 2017 Results
Review of Q4 2017 Results 3
Slide 5: Q4 2017 Financial Highlights
Q4 2017 Financial Highlights ▪ Net new orders increased 14% to Net New Orders 8,000 4,805 homes 2016 2017 7,000 ▪ Dollar value of net new orders gained 22% to $2.0 billion 6,000 ▪ Closings up 7% to 6,632 homes 5,000 ▪ Home sale revenues increased 4,000 12% to $2.7 billion 3,000 ▪ Unit backlog increa
Slide 6: Q4 2017 Financial Highlights
Q4 2017 Financial Highlights ▪ Reported Q4 EPS of $0.26 7,000 Closings includes: 2016 2017 6,000 – a $66 million pre-tax benefit relating to insurance related adjustments 5,000 – a $57 million pre-tax charge relating 4,000 to land adjustments – $181 million of income tax charges 3,000 relating prima
Slide 7: Continued Disciplined Approach to Land Investment
Continued Disciplined Approach to Land Investment ▪ Land acquisition investment in Q4 Lots Owned 110,000 7 was $311 million Lots Years Owned 100,000 ▪ Land pipeline totals ~141,000 lots 6 90,000 of which 37% are controlled 80,000 under options 5 70,000 ✓ Option percentage up 600 basis 60,000 4 point
Slide 8: Higher Prices Drive Homebuilder Revenues
Higher Prices Drive Homebuilder Revenues ▪ Average sales price of Q4 2017 Closings by Buyer Group homes closed increased 5%, or $19,000, to $410,000 ▪ Average sales price gained 25% across all buyer groups: 31% ✓ First Time increased 9% to $326,000 ✓ Move Up increased 2% to $478,000 ✓ Active Adult i
Slide 9: Q4 2017 Selected Financial Data
Q4 2017 Selected Financial Data Three Months Ended December 31, 2017 * 2016 ** Change Home Sale Revenues ($ millions) $2,717 $2,423 12% Backlog (Units) 8,996 7,422 21% Backlog Dollar Value ($ millions) $3,979 $2,942 35% Financial Services Pretax Income ($ millions) $23 $25 - 8% Reported Net Income (
Slide 10: Q4 2017 Selected Balance Sheet Data
Q4 2017 Selected Balance Sheet Data December 31, 2017 December 31, 2016 ($ millions) Cash and Equivalents $306 $723 (including restricted cash) House and Land Inventory $7,147 $6,771 Debt $3,007 $3,129 Shareholders’ Equity $4,154 $4,659 Debt – to – Capitalization 42% 40% 9
Slide 11: Reconciliation of Non-GAAP Financial Measures
Reconciliation of Non-GAAP Financial Measures The following tables set forth a reconciliation of the non-GAAP financial measures to the GAAP financial measures that management believes to be most directly comparable ($000's omitted): (a) Includes land inventory impairments, an insurance-related bene
Slide 12: Reconciliation of Non-GAAP Financial Measures
Reconciliation of Non-GAAP Financial Measures The following tables set forth a reconciliation of the non-GAAP financial measures to the GAAP financial measures that management believes to be most directly comparable ($000's omitted): (a) Includes land inventory impairments, net realizable value adju
Slide 13: Fourth Quarter 2017 Earnings
Fourth Quarter 2017 Earnings 12