Strong First Quarter Performance
PulteGroup delivered over 6,500 homes, achieved gross margins of 27.5%, net income of $523 million, and a trailing twelve-month return on equity of 25.4%.
Successful Spec Inventory Reduction
Reduced spec inventory to 47% of production from 53% in the fourth quarter, moving closer to the target range of 40% to 45%.
High-Performing Move-Up and Active Adult Segments
Average spend on options and lot premiums per home climbed to $110,000 in Q1, reflecting strong demand in these segments.
Financial Strength and Share Repurchase
Repurchased 2.8 million shares for $300 million, ending the quarter with $1.9 billion remaining under the share repurchase authorization.
Cycle Time Target Achieved
Reached targeted cycle time of 100 days for single-family homes, indicating effective operational management.