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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
05/20/201512:15:10What Is the S&P 500 Index?
05/15/201510:00:00PulteGroup's Presentation At The J.P. Morgan Homebuilding & Building...
05/08/201516:11:24Current Report Filing (8-k)
05/08/201513:04:24Statement of Changes in Beneficial Ownership (4)
05/08/201513:00:45Statement of Changes in Beneficial Ownership (4)
05/08/201512:55:57Statement of Changes in Beneficial Ownership (4)
05/08/201512:54:10Statement of Changes in Beneficial Ownership (4)
05/08/201512:52:25Statement of Changes in Beneficial Ownership (4)
05/08/201512:50:36Statement of Changes in Beneficial Ownership (4)
05/08/201512:47:14Statement of Changes in Beneficial Ownership (4)
05/08/201512:45:22Statement of Changes in Beneficial Ownership (4)
05/06/201514:41:00PulteGroup Announces Quarterly Cash Dividend Of $0.08 Per Share
05/01/201511:00:00PulteGroup's Presentation At The Wells Fargo Industrial & Construction...
04/30/201511:24:58Statement of Changes in Beneficial Ownership (4)
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)

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