Publication Date:
Fri, 2009-11-06 06:09
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Here’s a wrap-up of the third quarter results of the nation’s largest home builders:
Pulte Homes, No. 1 on Professional Builder’s list of Housing’s Giants:
Pulte Homes [1] reported a third-quarter net loss [2] of $361 million, which includes $134 million dollars of loss due to the merger and debt retirement costs. Revenues for the third quarter total $1.1 billion. This is the first quarter whose figures include those of Centex Corp. Pulte and Centex, formerly the third largest home builder in the nation, merged Aug. 18.
D.R. Horton, No. 2
D.R. Horton’s [3] third quarter ended June 30, when it reported a net loss of $142.3 million and revenue of $914.1 million. Its fourth quarter results are scheduled to be released on Nov. 20.
Lennar Corp., No. 4
Lennar’s [4] third quarter results showed [5] revenues down 35 percent, at $721 million. The net loss was $171.6 million, compared with 2008’s third quarter net loss of $89 million.
NVR, No. 5
NVR [6] finished its third quarter [7] with net revenues of $814 million. Home building revenues totaled $792.5 million. Net income for the company came in at $72.1 million.
Hovnanian Enterprises, No. 6
The third quarter [8] revenues for Hovnanian Enterprises [9] were $387.1 million, The net loss was $168.9 million, compared with $202.5 million a year ago.
Toll Brothers, No. 7
Toll Brothers ended its third quarter July 31 and reported a loss of $472.3 million. The fourth quarter results will be released Nov. 11 .
KB Home, No. 8
Third quarter [10]housing revenues for KB Home [11] totaled $454.2 million, and net losses came in at $64 million. The company also recently announced it resumed home building in the Washington, D.C., market. Orders were up 62 percent.
The Ryland Group, No. 9
The Ryland Group [12] results for third quarter 2009 [13] show a net loss of $52.5 million. Home building revenues were down 40 percent, at $315.8 million.
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