Pulte Homes
 | |
| Type | Public |
|---|---|
| Traded as |
NYSE: PHM S&P 500 Component |
| Industry | Residential Construction |
| Founded | 1950 |
| Headquarters | Bloomfield Hills, MI, USA |
| Key people |
William J. Pulte, Founder Richard J. Dugas Jr, CEO James R. Ellinghausen Sr. VP of HR |
| Revenue |
 $4.136 billion USD (2011) |
| Operating income |
 -$310 million USD (2011) |
| Net income |
-$210 million USD (2011) |
| Employees | 3,634 (2013) |
| Website | www.pulte.com |
Pulte Homes, Inc is a Bloomfield Hills, MI based company founded by Bill Pulte. Announced April 8, 2009, Pulte Homes has agreed to acquire Centex - creating the nation's largest homebuilding company[1] in a stock transaction worth $3.1 billion, including $1.8 billion of debt. The companies said that, after the merger, Pulte shareholders will own 68% of the combined company, and Centex shareholders will own 32%. The two companies said they each have about $1.7 billion in cash, so that the newly combined company will have more than $3.4 billion in liquidity. Pulte completed the acquisition of Centex February 23, 2010.[2]
In June 2013, Pulte announced they would move their headquarters to Atlanta, Georgia, citing a better economic climate outside of Metro Detroit.[3]
Pulte's company motto is "Homeowner for Life," signifying that their business goals are to provide first time homeowners with their first homes and work them up through their signature communities up to an estate size home and even to their retirement homes.
Operations
Pulte Homes is a homebuilder that operates through two segments, Home Construction and Financial Services.
- Homebuilding
- The Homebuilding segment engages in the acquisition and development of land principally for residential purposes within the continental United States, as well as the construction of housing on such land targeted for the first-time, first and second move-up, and active adult home buyers. Pulte has subsidiaries that include Del Webb, which builds retirement communities, and Palm Beach Gardens-based Divosta Homes, a pioneer in the mass-market construction of cast concrete houses. Pulte Homes leads all homebuilders with the highest customer satisfaction ranking in the 11 top residential markets in the U.S., as Reported by J.D. Power and Associates.[citation needed]
- Financial Services
- Financial Services segment provides mortgage banking and title operations services. The company serves its customers through its sales team and brokers.
Key Statistics
- Pulte lost $2.25 billion in 2007, $1.47 billion in 2008 and $1.18 billion in 2009.
- Pulte operates in 51 markets and 26 states.
- Pulte has built nearly 500,000 homes during its 57-year history.[citation needed]
- In 2006, the company delivered 41,487 homes in the U.S.[citation needed]
- Pulte's product mix includes single family detached and attached homes, condominiums and townhomes.[citation needed]
- Founder William Pulte owns about 16% of the company as of the year 2009.
References
- ↑ GREEN, PENELOPE (November 30, 2012). "Under One Roof, Building for Extended Families". New York Times. p. 11/30/12 N.Y. Times A1.
- ↑ Wotapka, Dawn (August 19, 2009).Pulte Buys Centex, Tries Branding Strategy.Wall Street Journal, p. B3.
- ↑ http://www.crainsdetroit.com/article/20130602/NEWS/306029948/pulte-move-more-a-hit-to-area-pride-than-home-industry#