PulteGroup Inc. Files 2023 Annual Report on Form 10-K

TL;DR

<b>PulteGroup Inc. has filed its 2023 10-K report detailing financial performance and operational segments for the fiscal year ending December 31, 2023.</b>

AI Summary

PULTEGROUP INC/MI/ (PHM) filed a Annual Report (10-K) with the SEC on February 5, 2024. PulteGroup Inc. filed its 2023 Form 10-K on February 5, 2024, reporting on the fiscal year ending December 31, 2023. The company operates in the Home Building and Financial Services segments. The filing includes financial data for the fiscal years 2023, 2022, and 2021. Key financial statement items such as Common Stock, Additional Paid-In Capital, Accumulated Other Comprehensive Income, and Retained Earnings are detailed for the period. The company's principal business address is in Atlanta, Georgia.

Why It Matters

For investors and stakeholders tracking PULTEGROUP INC/MI/, this filing contains several important signals. This 10-K filing provides a comprehensive overview of PulteGroup's financial health and operational activities for the past fiscal year, crucial for investors and stakeholders to assess performance and future outlook. The detailed financial data, including segment performance and balance sheet items, allows for a thorough analysis of the company's position within the operative builders industry.

Risk Assessment

Risk Level: medium — PULTEGROUP INC/MI/ shows moderate risk based on this filing. The filing is a standard annual report (10-K), which typically contains a broad range of financial and operational information. Specific risks are detailed within the full report, but the filing itself does not highlight any immediate, critical issues.

Analyst Insight

Review the detailed financial statements and risk factors within the 10-K to understand PulteGroup's performance and potential challenges in the homebuilding and financial services sectors.

Revenue Breakdown

Key Numbers

• 2023-12-31 — Fiscal Year End (Reporting period for the 10-K)
• 2024-02-05 — Filing Date (Date the 10-K was filed)
• 2023 — Fiscal Year (Year covered by the report)
• 2022 — Fiscal Year (Comparative year in the report)
• 2021 — Fiscal Year (Comparative year in the report)

Key Players & Entities

• PULTEGROUP INC/MI/ (company) — Filer of the 10-K report
• PULTE HOMES INC/MI/ (company) — Former name of PulteGroup Inc.
• PULTE CORP (company) — Former name of PulteGroup Inc.
• PHM CORP (company) — Former name of PulteGroup Inc.
• Atlanta (location) — City of the company's business address
• GA (location) — State of the company's business address

Forward-Looking Statements

• PulteGroup will continue to focus on its core homebuilding operations, with potential for growth in land acquisition. (PULTEGROUP INC/MI/) — medium confidence, target: 2024-12-31

FAQ

Key Dates

• 2024-02-05: 10-K Filing — Annual report for fiscal year 2023
• 2023-12-31: Fiscal Year End — End date of the reporting period

Key Financial Figures

• $0.01 — ch registered Common Shares, par value $0.01 PHM New York Stock Exchange Series A J
• $16.1 billion — ted 98% of our consolidated revenues of $16.1 billion in 2023, 98% of our consolidated revenu
• $16.0 billion — 23, 98% of our consolidated revenues of $16.0 billion in 2022, and 97% of our consolidated re
• $13.7 billion — and 97% of our consolidated revenues of $13.7 billion in 2021. Our Homebuilding operations ar
• $150,000 — s during 2023 ranged from approximately $150,000 to over $2,500,000, with 86% falling wi
• $2,500,000 — ged from approximately $150,000 to over $2,500,000, with 86% falling within the range of $
• $250,000 — 0, with 86% falling within the range of $250,000 to $750,000. The average unit selling p
• $750,000 — falling within the range of $250,000 to $750,000. The average unit selling price in 2023
• $545,000 — average unit selling price in 2023 was $545,000, compared with $534,000 in 2022, and $4
• $534,000 — ice in 2023 was $545,000, compared with $534,000 in 2022, and $456,000 in 2021. Strate
• $456,000 — 00, compared with $534,000 in 2022, and $456,000 in 2021. Strategy We believe that n
• $7.3 billion — for homes that have not yet closed, was $7.3 billion (12,146 units) at December 31, 2023 and
• $7.7 billion — (12,146 units) at December 31, 2023 and $7.7 billion (12,169 units) at December 31, 2022. Fo

Filing Documents

• phm-20231231.htm (10-K) — 1834KB
• exhibit10f-2021rsuagreement.htm (EX-10.F) — 62KB
• exhibit10g-2022rsuagreement.htm (EX-10.G) — 58KB
• exhibit10h-2023rsuagreement.htm (EX-10.H) — 63KB
• exhibit10i-2024rsuagreement.htm (EX-10.I) — 62KB
• exhibit10j-2021and2022ltia.htm (EX-10.J) — 89KB
• exhibit-2023ltiawardagreem.htm (EX-10.K) — 82KB
• exhibit10l-2024ltiawardagr.htm (EX-10.L) — 88KB
• exhibit10p-amendedseveranc.htm (EX-10.P) — 65KB
• exhibit-amendedretirementp.htm (EX-10.Q) — 22KB
• exhibit10r-amendedretireme.htm (EX-10.R) — 23KB
• exhibit10s-indemnification.htm (EX-10.S) — 97KB
• exhibit21-subsidiarylistin.htm (EX-21) — 33KB
• exhibit22-listofguarantors.htm (EX-22) — 33KB
• exhibit23-consent123123.htm (EX-23) — 3KB
• exhibit24-powerofattorney1.htm (EX-24) — 12KB
• exhibit31a-ceocertificatio.htm (EX-31.A) — 10KB
• exhibit31b-cfocertificatio.htm (EX-31.B) — 10KB
• exhibit32-certification123.htm (EX-32) — 6KB
• exhibit97-phmclawbackpolicy.htm (EX-97) — 19KB
• phm-20231231_g1.jpg (GRAPHIC) — 73KB
• phm-20231231_g2.gif (GRAPHIC) — 196KB
• 0000822416-24-000010.txt (&nbsp;) — 10881KB
• phm-20231231.xsd (EX-101.SCH) — 49KB
• phm-20231231_cal.xml (EX-101.CAL) — 89KB
• phm-20231231_def.xml (EX-101.DEF) — 300KB
• phm-20231231_lab.xml (EX-101.LAB) — 677KB
• phm-20231231_pre.xml (EX-101.PRE) — 505KB
• phm-20231231_htm.xml (XML) — 1374KB

Signatures

Signatures 77 2 PART I ITEM I. BUSINESS PulteGroup, Inc. is a Michigan corporation organized in 1956. We are one of the largest homebuilders in the United States ("U.S."), and our common shares are included in the S&P 500 Index and trade on the New York Stock Exchange under the ticker symbol "PHM". Unless the context otherwise requires, the terms "PulteGroup", the "Company", "we", "us", and "our" used herein refer to PulteGroup, Inc. and its subsidiaries. While our subsidiaries engage primarily in the homebuilding business, we also have financial services businesses, which include mortgage banking, title, and insurance agency operations, through Pulte Mortgage LLC ("Pulte Mortgage") and other subsidiaries. Available information We file annual, quarterly, and current reports, proxy statements, and other information with the Securities and Exchange Commission (the "SEC"). These filings are available at the SEC's website at www.sec.gov. Our internet website address is www.pultegroupinc.com. Our annual reports on Form 10-K, quarterly reports on Form 10-Q, current reports on Form 8-K, and amendments to those reports filed or furnished pursuant to Section 13(a) or 15(d) of the Securities Exchange Act are available free of charge through our website as soon as reasonably practicable after we electronically file them with or furnish them to the SEC. Our code of ethics for our principal executive officer, principal financial officer, principal accounting officer, and persons performing similar functions, our code of ethical business conduct, our corporate governance guidelines, and the charters of the Audit, Compensation and Management Development, Nominating and Governance, and Finance and Investment Committees of our Board of Directors are also posted on our website and are available in print, free of charge, upon request. Homebuilding Operations Homebuilding, our core business, involves the acquisition and development of land primarily for residential pur