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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
08/17/201609:29:36Current Report Filing (8-k)
08/01/201619:08:01Initial Statement of Beneficial Ownership (3)
08/01/201619:03:13Initial Statement of Beneficial Ownership (3)
08/01/201618:45:03Initial Statement of Beneficial Ownership (3)
07/29/201611:06:28Current Report Filing (8-k)
07/27/201618:28:12Amended Statement of Changes in Beneficial Ownership (4/a)
07/27/201617:57:01Statement of Changes in Beneficial Ownership (4)
07/27/201617:23:34Prospectus Filed Pursuant to Rule 424(b)(5) (424b5)
07/27/201612:38:00Pulte Capital Announces Sale of Southern Air & Heat to MSouth...
07/27/201606:04:29Free Writing Prospectus - Filing Under Securities Act Rules 163/433...
07/26/201618:33:00PulteGroup Prices $1 Billion Senior Notes Offering As Strong...
07/26/201607:53:12Prospectus Filed Pursuant to Rule 424(b)(5) (424b5)
07/26/201607:42:02Current Report Filing (8-k)
07/25/201618:54:00Statement of Changes in Beneficial Ownership (4)
07/21/201616:44:32Amended Statement of Beneficial Ownership (sc 13d/a)
07/21/201614:21:00PulteGroup Founder Comments On Shareholder Victories At PulteGroup
07/21/201610:31:35Quarterly Report (10-q)
07/21/201609:10:00PulteGroup Reports Upbeat Earnings
07/21/201607:30:00D.R. Horton Reports Orders, Profit Climb
07/21/201607:17:45Current Report Filing (8-k)

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