TSX:IFP - Post Discussion
Interfor Corp
> Ramping up housing construction as demand recovers
Post by
lifeisgood1010 on Feb 01, 2023 11:13am
Ramping up housing construction as demand recovers
You want to buy these lumber stocks at the trough of their EPS.Housing is in a deep deficit
and eventually their will be a HUGE NEED for new housing.
Homebuilder PulteGroup (PHM) announced plans this week to increase its pace of new builds in 2023, aiming to match an anticipated increase in demand in the market.
“Our plan is for a consistent cadence of new starts,” Ryan Marshall, Chief Executive Officer at PulteGroup said on the company's earnings call Tuesday.
“Combining our planned starts with our 18,000 homes currently in production, we expect to have a production universe that will allow us to close approximately 25,000 homes in 2023,” Marshall added.
The Atlanta-based homebuilder posted quarterly results that topped expectations, with earnings per share coming in at $3.85 against $3.63 expected by analysts, according to data from Bloomberg.
Revenue in the quarter totaled $5.17 billion, in-line with consensus expectations for $5.17 billion.
PulteGroup shares rose more than 9% on Tuesday following this report.
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