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PulteGroup FOR IMMEDIATE RELEASE Company Contact Investors : Jim Zeumer ( 404 ) 978-6434 Email : jim.zeumer@pultegroup.com PULTEGROUP , INC . REPORTS FIRST QUARTER 2021 FINANCIAL RESULTS • Reported Net Income of $ 1.13 Per Share • Adjusted Net Income of $ 1.28 Per Share • Closings Increased 12 % to 6,044 Homes • Home Sale Gross Margin of 25.5 % • • • • • Net New Orders Increased 31 % to 9,852 Homes ; Net New Order Value Increased 42 % to $ 4.6 Billion Backlog Increased 50 % to 18,966 Homes with a Value of $ 8.8 Billion Debt - to - Capital Lowered to 23.3 % , as Company Paid Down $ 726 Million of Senior Notes in the Quarter Company Repurchased 3.3 Million Shares for $ 154 million in the Quarter Company Increases Share Repurchase Authorization by $ 1.0 Billion ATLANTA - April 27 , 2021 – PulteGroup , Inc. ( NYSE : PHM ) announced today financial results for its first quarter ended March 31 , 2021. For the quarter , the Company reported net income of $ 304 million , or $ 1.13 per share . Adjusted net income for the period was $ 343 million , or $ 1.28 per share , after excluding a pre - tax charge of $ 61 million associated with the Company's previously announced cash tender for $ 300 million of debt that was executed in the period , as well as a $ 10 million pre - tax insurance benefit recorded in the period . Reported net income for the first quarter of 2020 was $ 204 million , or $ 0.74 per share . Adjusted net income for the first quarter of 2020 was $ 219 million , or $ 0.80 per share , after excluding a $ 20 million pre - tax goodwill impairment charge recorded in the period . " The year has gotten off to an outstanding start with strong demand across all of our markets and buyer groups which helped drive a 31 % increase in net new orders , including a 49 % gain in active - adult sales , ” said Ryan Marshall , PulteGroup President and CEO . “ In the first quarter , we continued to capitalize on this favorable demand environment as we expanded our adjusted operating margin by 280 basis points and generated a 60 % increase in adjusted earnings per share . ” " Gains in our core homebuilding operations and resulting strong cash flows are allowing us to invest in future growth and return funds to shareholders , while helping to generate high returns on equity which increased to 24.4 % * for the trailing 12 months . " " Along with the important underpinnings of favorable demographics , low interest rates and improving consumer confidence , industry demand is benefiting from increased desire for single family living , the ability for new homes to better meet buyer wants and needs and from a limited supply of new and existing home inventory , " added Marshall . “ The need for almost 4 million additional homes as recently estimated by Freddie Mac to meet 1