PulteGroup Climbs on Strong EPS

PulteGroup, Inc.

is trading higher today on a mixed earnings report. The company reported EPS of $0.13 versus estimates of $0.05 and revenues of $1.07B versus estimates of $1.11B. President and CEO Richard J. Dugas, Jr. of PulteGroup commented, "Our second quarter results showed significant gains as homebuilding operating margins expanded by more than 600 basis points, net income improved by $98 million and we continued to benefit from our strategic pricing strategies, improved construction efficiencies and further reductions in finished spec home inventory. Ongoing success in the execution of our value creation initiatives, combined with a recovery in new home demand, contributed to gains in overall operating results allowing PulteGroup to realize second quarter profitability and post its strongest financial performance in over five years." PulteGroup is currently trading at $11.70, up $1.67 or 16.77%