{"id":22707,"date":"2023-04-25T11:23:50","date_gmt":"2023-04-25T11:23:50","guid":{"rendered":"http:\/\/lynettelockhart.com\/client\/builder-pultegroup-beats-results\/"},"modified":"2023-04-25T11:27:46","modified_gmt":"2023-04-25T11:27:46","slug":"builder-pultegroup-beats-results","status":"publish","type":"post","link":"http:\/\/lynettelockhart.com\/client\/builder-pultegroup-beats-results\/","title":{"rendered":"Builder PulteGroup beats results expectations on higher home prices"},"content":{"rendered":"<p>(Reuters) &#8211;     U.S. homebuilder PulteGroup Inc on Tuesday beat Wall Street estimates for first-quarter profit and revenue as home prices stayed elevated amid limited supply.<\/p>\n<p>A shortage of homebuilding supplies had affected the availability of new homes, cushioning prices from the impact of sky-high interest rates that curbed the spending power of potential buyers. <\/p>\n<p>Still, February data signaled that the worst of the housing market downturn could be over as U.S. single-family homebuilding and permits for future construction rebounded.<\/p>\n<p>Pulte reported quarterly profits of $2.35 per share, beating analysts&#8217; estimates of $1.81, according to Refinitiv IBES.<\/p>\n<p>The company also announced a $1 billion increase to its share buyback program.<\/p>\n<p>&#8220;With interest rates more stable and the supply of new and existing homes generally in balance with demand, we remain optimistic about the housing industry,&#8221; CEO Ryan Marshall said in the company&#8217;s earnings statement. <\/p>\n<p>The Atlanta-based company said it closed 6,394 homes in the quarter, up 6% from the prior year, and reported a 9% increase in average selling prices.<\/p>\n<p>Revenue for the first quarter ended March 31 was $3.58 billion, compared with estimates of $3.27 billion.<\/p>\n<p \/>\n<p> (Reporting by Shivansh Tiwary in Bengaluru; Editing by Devika Syamnath)<\/p>\n<p><a href=\"http:\/\/lynettelockhart.com\/client\/builder-pultegroup-beats-results\/a-house-under-construction-is-seen-in-los-angeles\/\"><img decoding=\"async\" src=\"http:\/\/lynettelockhart.com\/client\/wp-content\/uploads\/Reuters_Direct_Media\/USOnlineReportBusinessNews\/tagreuters.com2023binary_LYNXMPEJ3O0F4-VIEWIMAGE.jpg\" alt=\"tagreuters.com2023binary_LYNXMPEJ3O0F4-VIEWIMAGE\"><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Reuters) &#8211; U.S. homebuilder PulteGroup Inc on Tuesday beat Wall Street estimates for first-quarter profit and revenue as home prices stayed elevated amid limited supply. A shortage of homebuilding supplies had affected the availability of new homes, cushioning prices from the impact of sky-high interest rates that curbed the spending power of potential buyers. Still, [&hellip;]<\/p>\n","protected":false},"author":8,"featured_media":22708,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":""},"categories":[1213],"tags":[],"class_list":["post-22707","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-u-s-business"],"jetpack_featured_media_url":"http:\/\/lynettelockhart.com\/client\/wp-content\/uploads\/Reuters_Direct_Media\/USOnlineReportBusinessNews\/tagreuters.com2023binary_LYNXMPEJ3O0F4-VIEWIMAGE.jpg","_links":{"self":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts\/22707","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/comments?post=22707"}],"version-history":[{"count":1,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts\/22707\/revisions"}],"predecessor-version":[{"id":22709,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts\/22707\/revisions\/22709"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/media\/22708"}],"wp:attachment":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/media?parent=22707"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/categories?post=22707"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/tags?post=22707"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}