Pultegroup, Inc. · NYSE:PHM

Pultegroup — Q3 2020 Earnings Presentation

13 slides from Pultegroup's earnings presentation, Oct 22, 2020

  1. Slide 1: Q3 2020 Operating & Financial Results

    Q3 2020 Operating & Financial Results October 22, 2020

  2. 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

  3. Slide 3: PulteGroup Call Participants

    PulteGroup Call Participants Ryan Bob Jim Jim Marshall O’Shaughnessy Ossowski Zeumer President & CEO Executive Senior Vice Vice President, Vice President President, Investor and CFO Finance Relations 2

  4. Slide 4: Operating & Financial Highlights

    Q3 2020 Operating & Financial Highlights

  5. Slide 5: Financial Highlights

    Q3 2020 Financial Highlights  Q3 reported earnings of $1.54  Reported homebuilding per share gross margin increased 140  Q3 adjusted earnings of $1.34 bps to 24.5% per share up 33% over prior year  Gross margin up 60 bps sequentially from Q2 2020  Adjusted to exclude a tax benefit of $53 millio

  6. Slide 6: Financial Highlights: Net New Orders and Backlog

    Q3 2020 Financial Highlights  Net new orders increased 18,000 Unit Backlog 2019 2020 36% to 8,202 homes 15,000 Value of net new orders 12,000 increased 43% to $3.6 billion 9,000  Unit backlog up 29% to 6,000 14,962 homes 3,000 Backlog value increased 32% 0 Q1 Q2 Q3 Q4 to $6.6 billion Net New Ord

  7. Slide 7: Strategically Increasing Land Investment

    Strategically Increasing Land Investment Lots Under Control  Q3 2020 land acq. & development investment increased to $843 million  Increased land investment after pausing in Q2 in response to pandemic  Targeting $2.7 billion of land spend for full year 2020  171,500 lots under control Lots Under

  8. Slide 8: Liquidity and Balance Sheet Strength

    Liquidity and Balance Sheet Strength Debt-to-Total Capital  Quarter end cash balance of $2.1 billion  Q3 debt-to-total capital ratio of 30.8%; down from 33.6% at the end of 2019  Net debt-to-capital ratio of 9.6%; down from 21.7% at the end of 2019  No shares repurchased in Q3 7

  9. Slide 9: Selected Financial Data

    Q3 2020 Selected Financial Data Three Months Ended September 30, 2020 2019 Change Home Sale Revenues ($ millions) $2,824 $2,637 7% Gross Margin Percentage 24.5% 23.1% 140 bps SG&A Percent of Home Sale Revenues 9.6% 10.3% - 70 bps Financial Services Pretax Income ($ millions) $64 $32 98% Net Income (

  10. Slide 10: Selected Balance Sheet Data

    Q3 2020 Selected Balance Sheet Data September 30, 2020 December 31, 2019 ($ millions) ($ millions) Cash and Equivalents $2,114 $1,251 (including restricted cash) House and Land Inventory $7,615 $7,681 Notes Payable $2,779 $2,765 Shareholders’ Equity $6,240 $5,458 Debt – to – Total Capital Ratio 30.8

  11. Slide 11: Appendix: Non-GAAP Reconciliation

    Appendix Non-GAAP Reconciliation

  12. 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: gross margin, net income, and diluted earnings per share ("EPS"). These measures are considered non-GAAP financial measur

  13. Slide 13: Q3 2020 Financial Results

    Q3 2020 Financial Results

PulteGroup — Q3 2020 Earnings Presentation on 6ix