though a slower rate of expansion than second quarter’s 380 basis points given less favorable mix (more lower margin Centex closings), purchase accounting effects from the Dominion acquisition, and higher legacy costs. Adjusted for the acquisition
value estimate. This is the first merger or acquisition transaction the firm has consummated since its 2009 merger with Centex . It marks the unofficial conclusion of its balance sheet repair era in which over $2 billion of debt had been reduced
Centex -the agro coop- will be offering new preferred. Some discussion already on SI. Here is link to company's announcement. http
We fear that Centex , like a lot of other builders, has too much land in its books.
of the largest stocks in the industry, and biggest positions in the ETFs that track it, such as Pulte Homes PHM and Centex CTX are trading below Oduma's estimate of their fair values, which already take into account weaker home sales than we
Average 7,272 7,737 7,453 10,962 17,123 24,378 Total 87,266 92,840 89,440 131,545 205,476 *330,039 * Centex contribution included in 2006 total. Since the tax credit’s expiration, new home sales have, unsurprisingly, trended
million that include a write-off of $655 million of Centex -related goodwill reflect poorly on the firm's capital ..... policies while confirming our concerns about overpaying for Centex . This announcement illustrates that Pulte still has major
overhead expenses, yet closings doubled because of the inclusion of Centex business that wasn't there in the year-ago period. This is impressive ..... that will be usable because of restrictions on the use of legacy Centex deferred tax assets.
leading to a very poor Solvency Score . Pulte merged with Centex in August 2009 near the market's bottom to create what ..... community business , Pulte's move - up home business , and Centex 's entry - level homes business . Pulte has one of the
offset by a 4 % increase in delivery price ( relative to a pro forma price of last year ) . Orders were up 145 % , but when Centex orders are included in the year - ago period , the combined company's orders were down 26 % . This is not necessarily