Research Desk Line-up: Taylor Morrison Home Post Earnings Coverage

LONDON, UK / ACCESSWIRE / November 7, 2017 / Pro-Trader Daily has just published a free post-earnings coverage on PulteGroup, Inc. (NYSE: PHM), which can be viewed by registering at http://protraderdaily.com/optin/?symbol=PHM, following the Company's release of its financial results on October 24, 2017, for the third quarter fiscal 2017. The home construction Company's total revenues increased 9.6% on a y-o-y basis. The Company's backlog units and value both were at a 10-year high for the third quarter. Our daily stock reports are accessible for free, and with those to look forward today you also will be signing up for a complimentary member's account at:

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Get more of our free earnings reports coverage from other constituents of the Residential Construction industry. Pro-TD has currently selected Taylor Morrison Home Corporation (NYSE: TMHC) for due-diligence and potential coverage as the Company reported on November 01, 2017, its financial results for Q3 2017. Register for a free membership today, and be among the early birds that get access to our report on Taylor Morrison Home when we publish it.

At Pro-TD, we make it our mission to bring you news that matter about the stock you follow. Today, our research desk covers a blog story on PHM; also brushing on TMHC. With the links below you can directly download the report of your stock of interest free of charge at:

http://protraderdaily.com/optin/?symbol=PHM

http://protraderdaily.com/optin/?symbol=TMHC

Earnings Reviewed

For three months ended September 30, 2017, PulteGroup's total revenues increased 9.6% to $2.13 billion from $1.94 billion in Q3 FY16. Total revenue was below analysts' expectations of $2.33 billion.

For the reported quarter, PulteGroup's selling, general, and administrative (SG&A) expenses decreased 5.3% to $237.50 million from $250.91 million in Q3 FY16.

During Q3 FY17, PulteGroup's earnings before tax (EBT) increased 26.3% to $268.25 million from $212.34 million in Q3 FY16. For the reported quarter, the Company's EBT margin increased 160 basis points to 12.5% of revenue from 10.9% of revenue in Q3 FY16. During Q3 FY17, PulteGroup's adjusted EBT increased 12.3% to $273.58 million from $243.51 million in the same period last year.

For the reported quarter, PulteGroup's net income increased 39% to $177.54 million on a y-o-y basis from $128.47 million in Q3 FY16. During Q3 FY17, the Company's diluted EPS increased 57% to $0.58 on a y-o-y basis from $0.37 in the same period last year.

During Q3 FY17, the Company's adjusted net income increased 22% to $180.92 million on a y-o-y basis from $147.80 million in Q3 FY16. Adjusted net income was calculated after excluding a pretax charge of $5 million resulting from the resolution of certain insurance matters. During Q3 FY17, the Company's adjusted diluted EPS increased 40% on a y-o-y basis to $0.60, from $0.43 in the same period last year. Adjusted diluted EPS surpassed analysts' expectations of $0.59.

PulteGroup's Segment Details

Homebuilding - During Q3 FY17, the Homebuilding segment's total revenue increased 9.9% to $2.08 billion from $1.89 billion in the same period last year. During Q3 FY17, PulteGroup's Home sale revenues increased 9% to $2.06 billion from $1.88 billion in the same period last year.

For the reported quarter, the segment's EBT increased 31% to $250.46 million from $191.06 million in Q3 FY16. During Q3 FY17, the segment's net new orders increased 11% to 5,300 units from 4,775 units in the same period last year. For the reported quarter, the segment's backlog increased 15% to 10,823 units from 9,417 units in the third quarter of 2016.

Financial Services - During Q3 FY17, the Financial Services segment's total revenue decreased 2.2% to $46.95 million from $48.02 million in the same period last year. For the reported quarter, the segment's EBT decreased 14% to $17.79 million, from $21.27 million in Q3 FY16.

Balance Sheet

As on September 30, 2017, PulteGroup's cash and cash equivalents decreased 77.3% to $158.24 million from $698.88 million on December 31, 2016. For the reported quarter, the Company's senior notes were $3.11 billion, almost at par with $3.11 billion in Q4 FY16.

For the reported quarter, PulteGroup's house and land inventory increased 8.8% to $7.37 billion from $6.77 billion in the fourth quarter of 2016. During Q3 FY17, the Company's accounts payable increased 8.8% to $441.48 million from $405.46 million in Q4 FY16.

During FY2017, PulteGroup's YTD cash provided by operating activities was positive $252.48 million compared to negative $306.51 million in the same period last year.

During Q3 FY17, the Company repurchased 10.4 million common shares for $260 million.

Stock Performance

PulteGroup's share price finished yesterday's trading session at $30.50, marginally up 0.63%. A total volume of 4.01 million shares have exchanged hands. The Company's stock price skyrocketed 20.51% in the last three months, 34.30% in the past six months, and 67.21% in the previous twelve months. Additionally, the stock soared 65.94% since the start of the year. Shares of the Company have a PE ratio of 14.99 and have a dividend yield of 1.18%. The stock currently has a market cap of $8.90 billion.

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SOURCE: Pro-Trader Daily