Pulte Misses Earnings Expectations

Pulte Misses Earnings Expectations

PulteGroup’s stock took a tumble after the company reported earnings that fell short of analysts’ expectations. The company reported earnings of 30 cents a share down 7 cents from the year ago period on revenue of $1.46 billion which was down from $1.55 billion in 3Q 2014. Forecasts had predicted earnings of 43 cents per share on $1.77 billion of revenue. The stock was down close to 10% in midday trading. Pulte blamed the weaker earnings on labor shortages which delayed completions. On a positive note, orders and average selling price were up.

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Michael Anderson
Michael Anderson 249 posts

Over the course of his 30-year career, Michael Anderson has worked in the residential development industry in the Pacific Northwest, Northern California and Southern California. He has acquired residential land in excess of $300M for both land development and homebuilding entities and has overseen the construction of approximately 2500 homes. Currently, in semi-retirement, and based out of Newport Beach, CA, Michael continues to invest in and stay abreast of the land markets.

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