PulteGroup Inc. (NYSE:PHM) Q3 2024 Earnings Conference Call October 22, 2024 8:30 AM ET

Company Participants

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

Conference Call Participants

John Lovallo - UBS
Alan Ratner - Zelman & Associates
Stephen Kim - Evercore ISI
Anthony Pettinari - Citi
Michael Rehaut - JPMorgan
Michael Dahl - RBC Capital Markets
Carl Reichardt - BTIG
Trevor Allinson - Wolfe Research
Sam Reid - Wells Fargo
Matthew Bouley - Barclays

Operator

Good morning. My name is Audra, and I will be your conference operator today. At this time, I would like to welcome everyone to the PulteGroup, Inc. Third Quarter 2024 Earnings Conference Call. Today's conference is being recorded. All lines have been placed on mute to prevent any background noise. After the speakers' remarks, there will be a question-and-answer session. [Operator Instructions]

At this time, I would like to turn the conference over to Jim Zeumer. Please go ahead.

James Zeumer

Thank you, Audra, and good morning. I want to welcome all participants to today's earnings call to review PulteGroup's operating and financial performance in the company's Q3 ended September 30, 2024.

Here to review PulteGroup’s Q3 results are Ryan Marshall, President and CEO; Bob O'Shaughnessy, Executive Vice President and CFO; and Jim Ossowski, Senior Vice President, Finance. A copy of our earnings release and this morning's presentation slides have been posted to our corporate website at pultegroup.com. We will post an audio replay of this call later today.

I 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 Marshall. Ryan?

Ryan Marshall

Thanks, Jim. I appreciate everyone joining our call this morning as we discuss another quarter of strong operating and financial results for PulteGroup. As detailed in this morning's press release, driven primarily by a 12% increase in closings, we reported a 16% year-over-year increase in third quarter earnings to $3.35 per share. Inclusive of our strong Q3 financial performance, for the first three quarters of 2024 PulteGroup has realized double digit increases in closings, home sale revenues, and pretax income along with a 22% increase in reported earnings to $10.28 per share.