November 15, 2024 5:44 am
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Pulte profit narrowed by tax law write down

Closings rise 7%, orders up 14%, backlog at 10-year high.

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PulteGroup, Inc. (NYSE:PHM) on Tuesday reported net income was $77 million, or $0.26 per share, for its fourth quarter ended December 31, 2017. Adjusted net income for the period was $253 million, or $0.85 per share, after excluding a $66 million pre-tax benefit associated with insurance related adjustments, a $57 million pre-tax charge relating to land adjustments, and $181 million of income tax charges primarily relating to the revaluation of the company’s deferred tax assets following newly enacted federal tax legislation. Analysts were expecting a gain of $0.85 per share.

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