Two Big Builders Made Enormous Profits in 2012

Pulte Group made $147.4 million,

Pulte Group and Standard Pacific Homes two of the leading builders posted whopping profits in 2012.

Pulte Group and Standard Pacific Homes two of the leading builders posted whopping profits in 2012.

a whopping 1,980 percent fiscal year profit. Pulte Group’s Chairman, President and CEO Richard Dugas, Jr. told investors about the company’s plans for 2013:

We now look ahead to 2013 with expectations for a continued rebound in U.S. housing driven by record low interest rates, higher rent vs. own costs, rising home prices and sharply lower overall housing inventory… we have authorized an additional $250 million per year of investment in land and related development in 2013 and 2014. This incremental investment, which will raise planned land spend for each year to approximately $1.2 billion…is expected to provide additional land resources for use primarily in 2014 and beyond.

Standard Pacific Homes reported $531.4 million, an almost unbelievable 3,337 percent fiscal year profit! Uncle Sam helped with a tax benefit of $454 million in the fourth quarter. According to Lanser, “With this latest report, Standard Pacific has had five consecutive quarters of net gains, after five years in which 16 out of 20 quarters were in the red.” Founded in California in 1965, the company now offers new homes in California, Texas, Arizona, Colorado, Florida and the Carolinas.

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