PulteGroup

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PulteGroup, Inc.
FormerlyPulte Homes, Inc.
Company type
Public
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HeadquartersAtlanta, Georgia, U.S.
Key people
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Production output
31,219 new home deliveries (2024)
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Total equityIncrease US$12.1 billion (2024)
Number of employees
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Websitepultegroupinc.com
Footnotes / references
[2][3]

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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.[4][5] In total, the company has built over 775,000 homes.[2]

The company operates in 45 markets in 23 states.[2][6] In 2021, it ranked 284th on the Fortune 500.[7] 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.[8]

History

Early history

In 1950, at the age of 18 years, William J. Pulte, began building and selling houses.[9] In 1956, he formed the company, Pulte Homes, Inc which was based in Bloomfield Hills, Michigan.[9][2] In 1972, the company became a public company via an initial public offering.[10] In 1998, the company acquired Divosta for an estimated $150 million,[11] and it also acquired Radnor Homes for an undisclosed amount.[12]

Since 2000

In 2001, Pulte Homes, Inc acquired Del E. Webb Construction Company, founded by Del Webb, for $1.8 billion.[13] In 2003, the company acquired Sivage-Thomas Homes.[14] In 2009, the company acquired Centex for $1.3 billion in stock.[15][16] In August 2014, the company acquired the real-estate assets of Dominion Homes for $82 million.[17]

The company changed its name from Pulte Homes, Inc. to PulteGroup, Inc. in March 2010.[18] 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.[19]

In 2016, the company acquired some homebuilding assets of John Wieland Homes and Neighborhoods, a premier builder of luxury homes.[20] In April 2019, the company acquired the homebuilding operations of American West Homes for $150 million.[21]

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.[22][23] In 2025, the company expanded its Del Webb brand to introduce Del Webb Explore in California and Florida.[24] The company has also partnered with Fastbrick Robotics to build homes in Florida using a robotic construction technology.[6]

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.[25] In May 2025, the organization’s Built to Honor Program completed its 100th home.[26]

Financials

Year Revenue in million US$[27] Net income in million US$[28] Average stock price

in US$[29]

Employees
2023 16,062 2,593 71.12 6382[30]
2022 16,003 2,601 43.04 6524[30]
2021 13,737 1,930 49.81 6182[30]
2020 11,036 1,394 37.25 5249[30]
2019 10,213 1,006 30.86 5245[30]

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.[31][32]

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.[33]

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.[34]

References

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  1. ^ Page Module:Citation/CS1/styles.css has no content.Noto, Grace (July 22, 2024). "PulteGroup promotes insider to fill retiring CFO's seat". CFO Dive.
  2. ^ a b c d Page Module:Citation/CS1/styles.css has no content."PULTEGROUP, INC. 2024 Form 10-K Annual Report". U.S. Securities and Exchange Commission. February 6, 2025.
  3. ^ Page Module:Citation/CS1/styles.css has no content."PulteGroup Revenue 2010-2022". www.macrotrends.net.
  4. ^ Page Module:Citation/CS1/styles.css has no content."The Top 100". builderonline.com. 2023. Retrieved October 13, 2023.
  5. ^ Page Module:Citation/CS1/styles.css has no content."The Top 100". Hanley Wood.
  6. ^ a b Page Module:Citation/CS1/styles.css has no content.Staff (February 20, 2025). "PulteGroup Pilots Innovative New Construction Process". FBR.
  7. ^ Page Module:Citation/CS1/styles.css has no content."Fortune 500: PulteGroup". Fortune.
  8. ^ Page Module:Citation/CS1/styles.css has no content.Krantz, Matt (September 8, 2016). "PulteGroup appoints Ryan Marshall as new CEO". USA Today.
  9. ^ a b Page Module:Citation/CS1/styles.css has no content.Szczesny, Joseph (February 16, 2010). "Founder of Pulte Homes resigns after 60 years". The Oakland Press.
  10. ^ Page Module:Citation/CS1/styles.css has no content.Downer, Blake (June 19, 2023). "PulteGroup Is Building Long-Term Shareholder Value (NYSE:PHM)". seekingalpha.com.
  11. ^ Page Module:Citation/CS1/styles.css has no content."Pulte Expands Southeast Operations By Buying Divosta". The New York Times. Bloomberg News. July 2, 1998.
  12. ^ Page Module:Citation/CS1/styles.css has no content."Radnor Homes sold". American City Business Journals. May 27, 1998.
  13. ^ Page Module:Citation/CS1/styles.css has no content.Umberger, Mary (May 2, 2001). "Pulte Homes to buy rival Del Webb for $1.8 billion". Chicago Tribune.
  14. ^ Page Module:Citation/CS1/styles.css has no content."Pulte buys Sivage-Thomas Homes". American City Business Journals. July 2, 2003.
  15. ^ Page Module:Citation/CS1/styles.css has no content."Pulte Homes and Centex Shareholders Overwhelmingly Approve Merger" (Press release). Business Wire. August 18, 2009.
  16. ^ Page Module:Citation/CS1/styles.css has no content.Clifford, Catherine (April 8, 2009). "Pulte Homes in $3.1 billion merger". cnn.com. Archived from the original on April 10, 2009.
  17. ^ Page Module:Citation/CS1/styles.css has no content.Staff (October 24, 2014). "Dominion Homes assets brought $82.7 million in sale to Pulte". The Columbus Dispatch.
  18. ^ Page Module:Citation/CS1/styles.css has no content.Whelan, Robbie (May 30, 2013). "PulteGroup to Move Headquarters to Atlanta". The Wall Street Journal.
  19. ^ Page Module:Citation/CS1/styles.css has no content.Staff (July 3, 2023). "PulteGroup Celebrates the 10th Anniversary of its Built to Honor® Program, Recognizing and Thanking Our Nation's Veterans". Yahoo Finance.
  20. ^ Page Module:Citation/CS1/styles.css has no content."PulteGroup Completes Acquisition of Certain Homebuilding Assets of John Wieland Homes and Neighborhoods". www.prnewswire.com. January 15, 2016.
  21. ^ Page Module:Citation/CS1/styles.css has no content.Segall, Eli (April 29, 2019). "Las Vegas developer Larry Canarelli sells homebuilding operations". Las Vegas Review-Journal.
  22. ^ Page Module:Citation/CS1/styles.css has no content.Marek, Emily (November 22, 2023). "PulteGroup's Built to Honor program awards 80th mortgage-free home to Houston Air Force veteran". Houston Agent Magazine.
  23. ^ Page Module:Citation/CS1/styles.css has no content.Rupinta, Amber (March 1, 2024). "Widow of U.S. Navy Petty Officer surprised by gift of new Hero Home in Wendell". ABC11 Raleigh-Durham.
  24. ^ Page Module:Citation/CS1/styles.css has no content.Salandro, Vincent (March 18, 2025). "Inside PulteGroup's Del Webb Explore Brand". Builder Magazine.
  25. ^ Page Module:Citation/CS1/styles.css has no content.Staff (February 5, 2025). "PulteGroup Expands 2025 Build Your Future Scholarship for Future Homebuilding Leaders". The Construction Data.
  26. ^ Page Module:Citation/CS1/styles.css has no content.Strong, Symone (May 6, 2025). "PulteGroup's Built to Honor Program Celebrates 100th Build". Builder Magazine.
  27. ^ Page Module:Citation/CS1/styles.css has no content."PulteGroup Revenue 2010-2024". www.macrotrends.net.
  28. ^ Page Module:Citation/CS1/styles.css has no content."PulteGroup Net Income 2010-2024". www.macrotrends.net.
  29. ^ Page Module:Citation/CS1/styles.css has no content."PulteGroup Stock Price History". www.macrotrends.net.
  30. ^ Page Module:Citation/CS1/styles.css has no content.Wille, Chris (February 19, 2019). "Relief for Pulte homeowners". Sarasota Herald-Tribune.
  31. ^ Page Module:Citation/CS1/styles.css has no content.Brown, Angela (January 30, 2019). "Sun City lawsuit settlement won't do "diddly squat," homeowners say". WCIV.
  32. ^ Page Module:Citation/CS1/styles.css has no content.Caulfield, John (February 23, 2010). "California court dismisses class action lawsuit against Pulte Homes". Hanley Wood.
  33. ^ Page Module:Citation/CS1/styles.css has no content."PulteGroup | Pulte | Del Webb | Centex | Poorly Built By Pulte | Index". poorlybuiltbypulte.info. Archived from the original on March 9, 2012. Retrieved June 15, 2025.

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