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PulteGroup tops 3Q earnings expectations

ATLANTA — PulteGroup Inc. (PHM) on Thursday reported third-quarter net income of $140.5 million.

On a per-share basis, the Atlanta-based company said it had net income of 37 cents.

The results beat Wall Street expectations. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of 36 cents per share.

The homebuilder posted revenue of $1.59 billion in the period, meeting Street forecasts.

PulteGroup shares have fallen almost 6 percent since the beginning of the year, while the Standard & Poor’s 500 index has climbed slightly more than 4 percent. The stock has climbed 16 percent in the last 12 months.

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