The BusinessWeek 50 Ranking
12
Pulte Homes
Rock-bottom interest rates and a steady supply of aging baby boomers for its "active adult" homes kept Pulte growing in 2004. Geographic diversification across the U.S. shielded the Bloomfield Hills (Mich.) builder from some regional fluctuations. Profits last year jumped 61%, as strong demand in the Southeast offset weakness in some Western markets. Pulte's new orders in the Southeast, for instance, shot up 45% in the fourth quarter. But the red-hot Las Vegas market suddenly cooled, forcing the company to slash prices there. Pulte also spreads its bets demographically, catering to first-time buyers and move-ups, as well as getting one-third of sales from new retirees. Rising interest rates remain a risk to sales growth. To cut costs, Pulte is experimenting with computerized methods of factory pre-assembly. After selling its Argentine unit in January, analysts expect the builder to soon divest its units in Puerto Rico and Mexico.
Company Info
| 2004 Rank | 11 |
| STOCK INFO | PHM |
| Market Value | $10 BILLION |
| Total Return | (1-yr.) 48.4%
(3-yr.) 203.4% |
| 2004 sales | $11.7 BILLION |
| Sales Growth | (1-yr.) 30%
(3-yr.) 28.6% |
| Net income | $998 MILLION |
| Net Income Growth | (1-yr.) 61%
(3-yr.) 47.9% |
| Net Margin* | 8.5% |
| Return on Equity* | 22.1% |
| Industry | CONSUMER DURABLES & APPAREL |
| CORPORATE WEB SITE | |
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*Trailing 12 months
Company data as of 2/28/05 provided by Standard & Poor's Compustat
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Company Snapshot
Pulte Homes, Inc. engages in the homebuilding and financial services businesses primarily in the United States. Its Homebuilding segment comprises Domestic and International Homebuilding units. Domestic Homebuilding engages in the acquisition and development of land principally for residential purposes and the construction of housing on such land targeted for the first-time, first and second move-up, and active adult home buyers within the continental United States. As of December 31, 2003, its Domestic Homebuilding business operated in 44 markets spanning 27 states. The International unit comprises the company’s homebuilding activities in Mexico, Puerto Rico, and Argentina. The Financial Services segment consists principally of mortgage banking and title operations. The company serves its customers through its sales team and brokers. Pulte Homes, Inc. is headquartered in Bloomfield Hills, Michigan.
No. of Employees
13,000
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