Publication Date:
Fri, 2009-08-14 04:48
Article Image:
The nation's top home builders have reported their second quarter 2009 results. Here's a recap, with links for more information:
Pulte Homes
Pulte Homes [1]' second quarter results showed a new loss of $189.5 million for the second quarter of 2009, compared with second quarter 2008's new loss of $158.4 million. The largest home builder in the nation attributes it to lower closing and revenues. A shareholder vote on the Pulte-Centex merger is scheduled for Aug. 18.
D.R. Horton
D.R. Horton, No. 2 on Professional Builder's Giant 400 list, reported fiscal year second quarter losses of $108.6 million, compared with a loss of $1.3 billion in the same period in 2008. Its fiscal year third quarter results for 2009 were $142.3 million, compared with $399.3 million in fiscal year third quarter 2008.
Centex
Centex [2], the nation's third largest home builder -- which is lined up for a merger with No. 1 Pulte Homes -- ended its fiscal year first quarter of 2009 [3] at the end of June and reported earnings of $85 million, compared with a $169 million loss a year ago. (Find information on the merger at the landing page on HousingZone.com.)
Lennar
Lennar reported a second quarter 2009 [4] loss of $125.2 million, which is relatively similar to a year ago, when the company reported a loss of $120.9 million in the second quarter. Lennar ranks No. 4 on Professional Builder's Giant 400 list for 2009.
Hovnanian Enterprises
No. 6 home builder K. Hovnanian [5]'s net loss for the second quarter of 2009 [6] was $118.6 million, compared with a net loss of $340.7 million in the second quarter of 2008.
Toll Brothers
Toll Brothers [7] reported second quarter losses in the 2009 fiscal year of $83.2 million, compared with 2008's second quarter figure of $93.7 million. The company's preliminary fiscal year third quarter report shows the company expects contracts for 837 units and $447.7 million, about 3 percent more units than fiscal year 2008's third quarter. Toll Brothers is the seventh largest home builder, according to Professional Builder's Giant 400 report for 2009.
KB Home
KB Home [8], No. 8 on Professional Builder's Giant 400 report, had a net loss of $78.4 million in its second quarter 2009 [9]. In 2008's second quarter, the loss was $255.9 million.
The Ryland Group
The 9th largest home builder, The Ryland Group, reported a new loss of $73.7 million for 2009's second quarter [10], a far cry from the $241.6 million loss it experienced second quarter 2008. The net loss for the first half of 2009 was $149 million, compared with a loss of $271 million in the first six months of 2008.
RELATED ARTICLES
Is the NVR model the way to go?
