{{short description|American home building company}} {{Use American English|date=April 2026}} {{Use mdy dates|date=April 2026}} {{Infobox company | name = PulteGroup, Inc. | logo = Pulte Group updated logo.png | former_name = Pulte Homes, Inc. | type = Public | traded_as = {{ubl|{{NYSE|PHM}}|S&P 500 component}} | industry = Home construction | founder = William J. Pulte | founded = {{Start date and age|1950}} | hq_location = Atlanta, Georgia, U.S. | key_people = {{plainlist| * Ryan R. Marshall (president and CEO) * Thomas J. Folliard (chairman) * Matt Koart (COO) * James L. Ossowski (CFO)<ref>{{cite news |last1=Noto |first1=Grace |title=PulteGroup promotes insider to fill retiring CFO’s seat |url=https://www.cfodive.com/news/pultegroup-announces-cfo-transition-housing-market-headwinds-inflation-interestrates-mortgages/722026/ |work=CFO Dive |date=July 22, 2024}}</ref>}} | production = 31,219 new home deliveries (2024) | revenue = {{increase}} {{US$|17.9 billion|link=yes}} (2024) | net_income = {{increase}} US$3.08 billion (2024) | assets = {{increase}} US$17.4 billion (2024) | equity = {{increase}} US$12.1 billion (2024) | num_employees = 6,793 (2024) | website = {{URL|pultegroupinc.com}} | footnotes = <ref name=10K>{{cite web | url=https://www.sec.gov/ix?doc=/Archives/edgar/data/0000822416/000082241625000007/phm-20241231.htm | title=PULTEGROUP, INC. 2024 Form 10-K Annual Report | publisher=U.S. Securities and Exchange Commission |date=February 6, 2025}}</ref><ref name="PHM">{{cite web |title=PulteGroup Revenue 2010-2022 |url=https://www.macrotrends.net/stocks/charts/PHM/pultegroup/revenue |website=www.macrotrends.net}}</ref> }}
'''PulteGroup, Inc.''' is an American residential home-construction company based in Atlanta, Georgia, United States. As of 2023, the company is the third-largest home-construction company in the United States based on the number of homes closed.<ref>{{Cite web |date=2023 |title=The Top 100 |url=https://www.builderonline.com/builder-100/builder-100-list/2023/ |access-date=2023-10-13 |website=builderonline.com}}</ref><ref>{{cite web | title=The Top 100 | url=https://www.builderonline.com/builder-100/builder-100-list/2021/ | publisher=Hanley Wood}}</ref> In total, the company has built over 775,000 homes.<ref name=10K/>
The company operates in 45 markets in 23 states.<ref name=10K/><ref name="11K">{{cite news |last1=Staff |title=PulteGroup Pilots Innovative New Construction Process |url=https://www.fbr.com.au/view/news-articles/20250220225944 |work=FBR |date=20 February 2025}}</ref> In 2021, it ranked 284th on the ''Fortune'' 500.<ref>{{Cite web | url=https://fortune.com/company/pultegroup/fortune500/ | title=Fortune 500: PulteGroup | publisher=Fortune}}</ref> The company was founded by William J. Pulte in Michigan, and moved its headquarters to Atlanta in 2014. Since 2016, Ryan Marshall has been the president and CEO of the company.<ref>{{cite news |last1=Krantz |first1=Matt | title=PulteGroup appoints Ryan Marshall as new CEO | url=https://www.usatoday.com/story/money/markets/2016/09/08/pultegroup-appoints-ryan-marshall-new-ceo/90002040/ | work=USA Today | date=September 8, 2016}}</ref>
==History== ===Early history=== In 1950, at the age of 18 years, William J. Pulte, began building and selling houses.<ref name="obit">{{cite news | url=http://www.theoaklandpress.com/article/OP/20100216/NEWS/302169971 | title=Founder of Pulte Homes resigns after 60 years | first=Joseph | last=Szczesny | work=The Oakland Press | date=February 16, 2010}}</ref> In 1956, he formed the company, Pulte Homes, Inc which was based in Bloomfield Hills, Michigan.<ref name="obit"/><ref name=10K/> In 1972, the company became a public company via an initial public offering.<ref>{{cite news |last1=Downer |first1=Blake |title=PulteGroup Is Building Long-Term Shareholder Value (NYSE:PHM) |url=https://seekingalpha.com/article/4612280-pultegroup-is-building-long-term-shareholder-value |work=seekingalpha.com |date=19 June 2023 |language=en}}</ref> In 1998, the company acquired Divosta for an estimated $150 million,<ref name=divosta>{{cite news | url=https://www.nytimes.com/1998/07/02/business/company-news-pulte-expands-southeast-operations-by-buying-divosta.html | title=Pulte Expands Southeast Operations By Buying Divosta | agency=Bloomberg News | work=The New York Times | date=July 2, 1998}}</ref> and it also acquired Radnor Homes for an undisclosed amount.<ref name=radnor>{{cite news | url=https://www.bizjournals.com/nashville/stories/1998/05/25/daily6.html | title=Radnor Homes sold | work=American City Business Journals | date=May 27, 1998}}</ref>
===Since 2000=== In 2001, Pulte Homes, Inc acquired Del E. Webb Construction Company, founded by Del Webb, for $1.8 billion.<ref name=web>{{cite news | url=https://www.chicagotribune.com/2001/05/02/pulte-homes-to-buy-rival-del-webb-for-18-billion/ | title=Pulte Homes to buy rival Del Webb for $1.8 billion | first=Mary | last=Umberger | publisher=Chicago Tribune | date=May 2, 2001}}</ref> In 2003, the company acquired Sivage-Thomas Homes.<ref name=sivage>{{cite news | url=https://www.bizjournals.com/phoenix/stories/2003/06/30/daily34.html | title=Pulte buys Sivage-Thomas Homes | work=American City Business Journals | date=July 2, 2003}}</ref> In 2009, the company acquired Centex for $1.3 billion in stock.<ref name=centex>{{cite press release | url=https://www.businesswire.com/news/home/20090818006090/en/Pulte-Homes-Centex-Shareholders-Overwhelmingly-Approve-Merger | title=Pulte Homes and Centex Shareholders Overwhelmingly Approve Merger | publisher=Business Wire | date=August 18, 2009}}</ref><ref name=centexx>{{cite news | last=Clifford | first=Catherine | title=Pulte Homes in $3.1 billion merger | date=April 8, 2009 | url=https://money.cnn.com/2009/04/08/real_estate/pulte_centex/index.htm | archive-url=https://web.archive.org/web/20090410105517/http://money.cnn.com/2009/04/08/real_estate/pulte_centex/index.htm | archive-date=April 10, 2009 | url-status=dead | work=cnn.com }}</ref> In August 2014, the company acquired the real-estate assets of Dominion Homes for $82 million.<ref>{{cite news |last1=Staff |title=Dominion Homes assets brought $82.7 million in sale to Pulte |url=https://www.dispatch.com/story/business/2014/10/24/dominion-homes-assets-brought-82/23534115007/ |work=The Columbus Dispatch |date=October 24, 2014}}</ref>
The company changed its name from Pulte Homes, Inc. to PulteGroup, Inc. in March 2010.<ref>{{cite news | last=Whelan | first=Robbie | title=PulteGroup to Move Headquarters to Atlanta | url=https://www.wsj.com/articles/SB10001424127887324682204578515793718798314 | work=The Wall Street Journal | date=May 30, 2013}}</ref> In 2013, PulteGroup launched Built to Honor program, which provides homes to veterans with disabilities from the Army, Marine Corps, Navy, Air Force, and Coast Guard, as well as Gold Star families in 18 U.S. states.<ref>{{cite news |last1=Staff |title=PulteGroup Celebrates the 10th Anniversary of its Built to Honor® Program, Recognizing and Thanking Our Nation's Veterans |url=https://finance.yahoo.com/news/pultegroup-celebrates-10th-anniversary-built-123000175.html?guccounter=1 |work=Yahoo Finance |date=3 July 2023}}</ref>
In 2016, the company acquired some homebuilding assets of John Wieland Homes and Neighborhoods, a premier builder of luxury homes.<ref>{{cite news |title=PulteGroup Completes Acquisition of Certain Homebuilding Assets of John Wieland Homes and Neighborhoods |url=https://www.prnewswire.com/news-releases/pultegroup-completes-acquisition-of-certain-homebuilding-assets-of-john-wieland-homes-and-neighborhoods-300204957.html |work=www.prnewswire.com |date=15 January 2016 |language=en}}</ref> In April 2019, the company acquired the homebuilding operations of American West Homes for $150 million.<ref name=awh>{{cite news | last=Segall | first=Eli | title=Las Vegas developer Larry Canarelli sells homebuilding operations | url=https://www.reviewjournal.com/business/housing/las-vegas-developer-larry-canarelli-sells-homebuilding-operations-1652379/ | work=Las Vegas Review-Journal | date=April 29, 2019}}</ref>
===Since 2020=== In 2023 and 2024, PulteGroup and Centex Homes built and awarded homes to US veterans in Houston and North Carolina. This was a part of the company’s Operation Coming Home and the U.S. Veterans Corps.<ref>{{cite news |last1=Marek |first1=Emily |title=PulteGroup’s Built to Honor program awards 80th mortgage-free home to Houston Air Force veteran |url=https://houstonagentmagazine.com/2023/11/22/pultegroup-built-to-honor-80th-mortgage-free-home/#:~:text=PulteGroup%20%E2%80%99s%20Built%20to%20Honor%20program%20delivered%20its,community%20in%20Conroe%20at%20a%20ribbon%20cutting%20ceremony |work=Houston Agent Magazine |date=22 November 2023}}</ref><ref>{{cite news |last1=Rupinta |first1=Amber |title=Widow of U.S. Navy Petty Officer surprised by gift of new Hero Home in Wendell |url=https://abc11.com/post/hero-home-surprise-free-mortage-free/14483571/?userab=abc_web_player-460*variant_a_abc_control-1900%2Cotv_web_player-461*variant_a_otv_control-1902%2Cotv_web_content_rec-445*variant_a_control-1849%2Chp_banner-426*variant_b_arrow-1778 |work=ABC11 Raleigh-Durham |date=1 March 2024}}</ref> In 2025, the company expanded its Del Webb brand to introduce Del Webb Explore in California and Florida.<ref>{{cite news |last1=Salandro |first1=Vincent |title=Inside PulteGroup’s Del Webb Explore Brand |url=https://www.builderonline.com/builder-100/strategy/inside-pultegroups-del-webb-explore-brand_o |work=Builder Magazine |date=18 March 2025}}</ref> The company has also partnered with Fastbrick Robotics to build homes in Florida using a robotic construction technology.<ref name=11K/>
In February 2025, PulteGroup expanded its Build Your Future SkillPointe Scholarship program, with a $100,000 investment to support individuals from diverse backgrounds who are pursuing careers in residential homebuilding and technologies.<ref>{{cite news |last1=Staff |title=PulteGroup Expands 2025 Build Your Future Scholarship for Future Homebuilding Leaders |url=https://theconstructiondata.com/pultegroup-expands-2025/ |work=The Construction Data |date=5 February 2025}}</ref> In May 2025, the organization’s Built to Honor Program completed its 100th home.<ref>{{cite news |last1=Strong |first1=Symone |title=PulteGroup’s Built to Honor Program Celebrates 100th Build |url=https://www.builderonline.com/builder-100/leadership/pultegroups-built-to-honor-program-celebrates-100th-build_o |work=Builder Magazine |date=6 May 2025}}</ref>
==Financials== {| class="wikitable" |+ |- ! Year !! Revenue in million US$<ref>{{cite web |title=PulteGroup Revenue 2010-2024 |url=https://www.macrotrends.net/stocks/charts/PHM/pultegroup/revenue |website=www.macrotrends.net}}</ref> !! Net income in million US$<ref>{{cite web |title=PulteGroup Net Income 2010-2024 |url=https://www.macrotrends.net/stocks/charts/PHM/pultegroup/net-income |website=www.macrotrends.net}}</ref> !! Average stock price in US$<ref>{{cite news |title=PulteGroup Stock Price History |url=https://www.macrotrends.net/stocks/charts/PHM/pultegroup/stock-price-history |work=www.macrotrends.net}}</ref> ! Employees |- | 2023 || 16,062 || 2,593 || 71.12 || 6382<ref name="Annual reports link">{{cite web |title=Annual Reports of PulteGroup |url=https://www.annualreports.com/Company/pulte-homes-inc |website=www.annualreports.com}}</ref> |- | 2022 || 16,003 || 2,601 || 43.04 || 6524<ref name="Annual reports link" /> |- | 2021 || 13,737 || 1,930 || 49.81 || 6182<ref name="Annual reports link" /> |- | 2020 || 11,036 || 1,394 || 37.25 || 5249<ref name="Annual reports link" /> |- | 2019 || 10,213 || 1,006 || 30.86 || 5245<ref name="Annual reports link" /> |}
==Legal affairs== ===Stucco defects in Florida homes=== In 2019, after an investigation by Florida Attorney General Ashley Moody, Pulte agreed to pay $4.7 million in restitution and make repairs to houses it sold in Florida that had cracks in stucco applied to a wood frame, stucco delamination, and improper installation of weep screed.<ref>{{Cite news | url=https://www.heraldtribune.com/story/business/real-estate/2019/02/19/pulte-homeowners-with-stucco-repairs-can-be-reimbursed/5917317007/ | title=Relief for Pulte homeowners | first=Chris | last=Wille | work=Sarasota Herald-Tribune | date=February 19, 2019}}</ref><ref>{{Cite news | url=https://abcnews4.com/news/local/sun-city-families-say-lawsuit-settlement-wont-do-diddly-squat | title=Sun City lawsuit settlement won't do "diddly squat," homeowners say | first=Angela | last=Brown | work=WCIV | date=January 30, 2019}}</ref>
===Dismissed lawsuit regarding propping up sale prices=== In October 2009, a class-action lawsuit was filed by Steve Berman accusing the company of artificially propping up house sales prices and contributing to the United States housing bubble. The lawsuit was dismissed by the court.<ref>{{cite news | title=California court dismisses class action lawsuit against Pulte Homes | url=https://www.builderonline.com/building/regulation-policy/california-court-dismisses-class-action-lawsuit-against-pulte-homes_o | first=John | last=Caulfield | work=Hanley Wood | date=February 23, 2010}}</ref>
=== 2009 allegations of systematic construction defects === On March 26, 2009, Building Justice, a project of the International Union of Painters and the Sheet Metal Workers International Association, with support from the AFL-CIO, released the report of a survey of 872 Pulte and Del Webb home owners in Arizona, Nevada, and California, in which 63% of respondents reported construction defects in their homes. The report "Poorly Built by Pulte, No Different at Del Webb: Homeowner Dissatisfaction in Arizona, Nevada, and California" was published on the project's website.<ref>{{Cite web |title=PulteGroup {{!}} Pulte {{!}} Del Webb {{!}} Centex {{!}} Poorly Built By Pulte {{!}} Index |url=http://poorlybuiltbypulte.info/ |archive-url=https://web.archive.org/web/20120309044156/http://poorlybuiltbypulte.info/ |archive-date=2012-03-09 |access-date=2025-06-15 |website=poorlybuiltbypulte.info}}</ref>
==References== {{Reflist}}
==External links== *{{Official|https://www.pultegroupinc.com}} {{Finance links | name = PulteGroup, Inc. | symbol = PHM | google = PHM:NYSE | yahoo = PHM | bloomberg = PHM:US | sec_cik = 822416 }}
{{S&P 500 companies}} {{Authority control}}
Category:1950 establishments in Michigan Category:Construction and civil engineering companies of the United States Category:Companies based in Atlanta Category:Companies listed on the New York Stock Exchange Category:Construction and civil engineering companies established in 1950 Category:Home builders Category:1970s initial public offerings