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Pulte Returning More Control To Local Level

By Dawn Wotapka Of DOW JONES NEWSWIRES NEW YORK -(Dow Jones)- Builder PulteGroup (PHM) said Friday that is giving more control to its local markets, reversing an industrywide consolidation trend that followed the housing crash. "When our volumes were approaching 50,000 houses a year, national building plans, standardized specifications and standardized purchasing product lines were advantageous," Chief Executive Richard Dugas said in an earnings conference call. "At current volumes, it is making sense for us to push more of these activities down to the local market...We have given greater control back to our field operations to drive local house construction costs lower." The company, the nation's second-largest builder, is also winding down its plant-based operations in Phoenix, where low volumes had turned plant efficiencies into a "margin drag," Dugas said. "While having a changed course on previous strategies is frustrating, it's the right action to drive meaningful change and capture more significant savings," Dugas said. Earlier Friday, Pulte swung to a loss of $165.4 million, or 44 cents a share, compared with a loss of $116.9 million, or 31 cents, a year earlier. -By Dawn Wotapka, Dow Jones Newswires; 212-416-2193; dawn.wotapka@dowjones.com

Stock News for Pulte Homes (PHM)
DateTimeHeadline
04/24/201510:37:42PulteGroup Price Target Increased to $18.00 by Analysts at Barclays...
04/24/201507:21:40Zelman & Associates Upgrades PulteGroup to Buy (PHM)
04/23/201513:21:13PulteGroup Posts a Surprise Drop in Profit--Update
04/23/201512:55:10PulteGroup Posts Surprise Profit Drop on Soft Orders
04/23/201510:03:14Quarterly Report (10-q)
04/23/201507:15:14Current Report Filing (8-k)
04/23/201506:30:00PulteGroup, Inc. Reports First Quarter 2015 Financial Results
04/11/201521:24:14The Housing Market: Myth Vs. Reality
04/09/201507:33:56JPMorgan downgrades two homebuilders after nice runs
04/01/201506:26:20Why PulteGroup Doesn't Look Like A Good Bet At Its 52-Week High
03/30/201510:00:00PulteGroup's First Quarter 2015 Earnings Release And Webcast...
03/26/201506:46:37ModernGraham Quarterly Valuation Of PulteGroup, Inc.
03/25/201516:41:04Additional Proxy Soliciting Materials (definitive) (defa14a)
03/25/201516:37:36Proxy Statement (definitive) (def 14a)
03/24/201504:04:09Existing Home Sales Miss Street Estimates - Underlying Data Still...
03/19/201507:25:27Mortgage Applications Confirm The Bearish Signal From Homebuilders
03/17/201502:21:56Homebuilders - Why So Blue?
03/17/201501:39:45Real Estate Stocks Face Risk This Week
03/10/201501:40:02Will Lumber's Decline Continue To Boost Home Builders?â
03/09/201508:30:22Homebuilder pair trade from Buckingham Research

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