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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;

Stock News for Pulte Homes (PHM)
10/20/201613:00:00PulteGroup Earnings, Revenue Grow
10/20/201609:51:01Quarterly Report (10-q)
10/20/201606:56:23Current Report Filing (8-k)
10/20/201606:30:00PulteGroup Reports Third Quarter 2016 Financial Results
09/28/201619:28:45Statement of Changes in Beneficial Ownership (4)
09/28/201619:26:54Statement of Changes in Beneficial Ownership (4)
09/28/201619:24:53Statement of Changes in Beneficial Ownership (4)
09/28/201619:21:24Statement of Changes in Beneficial Ownership (4)
09/28/201619:02:29Statement of Changes in Beneficial Ownership (4)
09/28/201618:59:51Amended Statement of Beneficial Ownership (3/a)
09/28/201618:57:34Amended Statement of Beneficial Ownership (3/a)
09/28/201618:54:49Amended Statement of Beneficial Ownership (3/a)
09/26/201615:09:00PulteGroup's Third Quarter 2016 Earnings Release and Webcast...
09/16/201614:19:58Initial Statement of Beneficial Ownership (3)
09/13/201611:28:00/C O R R E C T I O N -- PulteGroup, Inc./
09/13/201609:30:00Corporate Responsible Strategy Report
09/12/201614:03:49Statement of Changes in Beneficial Ownership (4)
09/09/201612:14:44Amended Statement of Beneficial Ownership (sc 13d/a)
09/08/201614:25:24Current Report Filing (8-k)
09/08/201610:40:00PulteGroup Chooses New CEO, Reaches Agreement with Founder

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