PulteGroup Inc (PHM) released its first quarter results on Wednesday, April 28, 2021. The company reported net earnings of $1.13 per share for the first quarter ending March 31, 2021. Earnings for this past quarter were up 52 percent compared to the same period a year ago.
PulteGroup, Inc. was founded in 1950 and is headquartered in Atlanta, Georgia. PulteGroup, Inc., through its subsidiaries, primarily engages in the homebuilding business in the United States. The company acquires and develops land primarily for residential purposes; and constructs housing on such land.
PulteGroup's revenue increased 9 percent over the past trailing twelve-month period versus the previous twelve-month period. Gross margins increased to 27.36% for the first quarter compared to the same period in the previous year, and operating margins increased to 16.78% over the same period. Net earnings for past trailing twelve months were $1497.1 million, up 43% from the prior year.
Moving on to the balance sheet, PulteGroup’s cash levels dropped 11% for the third quarter over the same period last year. Overall liquidity of the balance sheet, as measured by the current ratio, increased 12.08% this past year. The current ratio for PulteGroup now stands at 3.93. The company decreased shares outstanding by 1.4%.
Shares of PHM are currently trading around $58.68. In terms of valuation, the stock is trading at a trailing twelve-month price to earnings ratio of 10.54 and price to book ratio of 2.33.