PulteGroup's Q3 Earnings Disappoint, Share Buybacks Support Shareholder Value

PulteGroup reported Q3 revenue of $4.4bn and net income of $585.83m, both lower than the prior year. The company repurchased 2.4 million shares for $300m during the quarter, bringing total repurchases since 2013 to over 70% of shares outstanding. Despite lower earnings, PulteGroup's investment narrative remains positive due to its strong land and product portfolio, as well as ongoing share buyback activity.