PulteGroup Inc. (NYSE:PHM) Q1 2024 Earnings Conference Call April 23, 2024 8:30 AM ET

Company Participants

Ryan Marshall - President, Chief Executive Officer
Robert O’Shaughnessy - Executive Vice President, Chief Financial Officer
James Zeumer - Vice President, Investor Relations

Conference Call Participants

Stephen Kim - Evercore ISI
Matthew Bouley - Barclays
Carl Reichardt - BTIG
Anthony Pettinari - Citi
Andrew Azzi - JP Morgan
John Lovallo - UBS
Rafe Jadrosich - Bank of America
Mike Dahl - RBC Capital Markets
Alan Ratner - Zelman & Associates
Ken Zener - Seaport Research Partners

Operator

Thank you for standing by. My name is Jeannie and I will be your conference operator today.

At this time, I would like to welcome everyone to the PulteGroup Inc. Q1 2024 earnings conference call. All lines have been placed on mute to prevent any background noise. After the speakers’ remarks, there will be a question and answer session. If you would like to ask a question during this time, simply press star followed by the number one on your telephone keypad. If you would like to withdraw your question, press star, one again.

Thank you. I would now like to turn the conference over to Jim Zeumer. You may begin.

James Zeumer

Great, thanks Jeannie. Good morning. Let me welcome everyone to today’s call. We look forward to discussing PulteGroup’s outstanding Q1 operating and financial results for the period ended March 31, 2024.

I’m joined on the call today by Ryan Marshall, President and CEO; Bob O’Shaughnessy, Executive Vice President and CFO; and Jim Ossowski, Senior VP, Finance.

A copy of our earnings release and this morning’s presentation slides has been posted to our corporate website at pultegroup.com. We’ll post an audio replay of this call later today.

We want to alert everyone that today’s presentation includes forward-looking statements about the company’s expected future performance. Actual results could differ materially from those suggested by our comments made today. The most significant risk factors that could affect future results are summarized as part of today’s earnings release and within the accompanying presentation slides. These risk factors and other key information are detailed in our SEC filings, including our annual and quarterly reports.

Now let me turn the call over to Ryan. Ryan?

Ryan Marshall

Thanks Jim, and good morning.

As you read in this morning’s press release, PulteGroup reported record first quarter results across many of our key financial metrics. From top line revenues of $3.8 billion and gross margins of 29.6% to bottom line earnings of $3.10 per share, it was an exceptional quarter. These strong first quarter results helped to drive a return on equity of 27.3% for the trailing 12-month period.