PKB - Why Homebuilder PulteGroup Shares Are Higher Today | Benzinga
PulteGroup, Inc. (NYSE:PHM) shares are trading higher after the company reported first-quarter FY24 results.
Revenue stood at $3.95 billion, beating the consensus of $3.58 billion.
Reported home sale revenues rose 10% Y/Y to $3.8 billion, with higher revenues reflecting an 11% increase in closings to 7,095 homes, partly offset by a 1% Y/Y drop in average sales price to $538,000.
The gross margin for home sales stood at 29.6%, increasing by 50 basis points Y/Y, benefiting from ongoing strength in homebuyer demand and ...