PulteGroup: 2Q Earnings Snapshot
ATLANTA (AP) — PulteGroup Inc. (PHM) on Tuesday reported second-quarter net income of $241 million.
The Atlanta-based company said it had net income of 86 cents per share.
The results exceeded Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 82 cents per share.
The homebuilder posted revenue of $2.49 billion in the period, also beating Street forecasts. Four analysts surveyed by Zacks expected $2.48 billion.
PulteGroup shares have increased 29% since the beginning of the year, while the Standard & Poor’s 500 index has risen 19%. The stock has risen almost 8% in the last 12 months.