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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; [email protected]

Stock News for Pulte Homes (PHM)
DateTimeHeadline
03/22/201719:41:35Statement of Changes in Beneficial Ownership (4)
03/21/201717:14:10Additional Proxy Soliciting Materials (definitive) (defa14a)
03/21/201717:09:47Proxy Statement (definitive) (def 14a)
03/21/201716:18:53Initial Statement of Beneficial Ownership (3)
03/20/201714:51:32Statement of Changes in Beneficial Ownership (4)
03/16/201707:00:00PulteGroup Names Todd Sheldon General Counsel
03/14/201716:11:09Statement of Changes in Beneficial Ownership (4)
03/10/201718:22:48Statement of Changes in Beneficial Ownership (4)
02/28/201709:00:00PulteGroup Introduces Virtual Reality Headsets To Expand The...
02/28/201708:00:00PulteGroup's Presentation At The Raymond James 38th Annual Institutional...
02/24/201713:54:03Statement of Changes in Beneficial Ownership (4)
02/24/201712:57:08Statement of Changes in Beneficial Ownership (4)
02/22/201716:09:43Amended Statement of Beneficial Ownership (sc 13d/a)
02/17/201716:09:00Amended Statement of Beneficial Ownership (sc 13d/a)
02/14/201711:47:48Amended Statement of Ownership (sc 13g/a)
02/13/201718:40:19Statement of Changes in Beneficial Ownership (4)
02/13/201718:38:31Statement of Changes in Beneficial Ownership (4)
02/13/201718:36:16Statement of Changes in Beneficial Ownership (4)
02/13/201718:33:05Statement of Changes in Beneficial Ownership (4)
02/13/201718:31:48Statement of Changes in Beneficial Ownership (4)

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