PulteGroup Adds 7% On Upbeat Q4 Results

Shares of homebuilding company PulteGroup, Inc. (PHM) are rising more than 7% Tuesday morning after reporting upbeat fourth-quarter results.

The company reported net income of $882.23 million, or $3.85 per share, higher than $663.26 million or $2.61 per share in the same quarter a year ago.

Excluding one-time items, earnings were $832 million, or $3.63 per share, that beat the average estimate of analysts polled by Thomson-Reuters of $2.93 per share.

Quarterly revenue increased to $5.171 billion from $4.358 billion last year. The consensus estimate stood at $4.59 billion.

PHM, currently at $56.08, has traded in the range of $35.03-$56.71 in the last 1 year.

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