PulteGroup Inc. PHM reported second-quarter 2021 results, wherein earnings met the Zacks Consensus Estimate but revenues missed the same.Nonetheless, both earnings and revenues grew year over year buoyed by solid housing market momentum, and limited inventory of new and existing homes. PulteGroup remains optimistic about the company’s prospects, given persistent economic recovery, a positive job market, low interest rates and high level of consumer confidence. Shares of this homebuilder gained 1.2% in the pre-market trading session, following the earnings release.Ryan Marshall, president and chief executive officer of PulteGroup, highlighted, “With a backlog exceeding 20,000 homes valued at $9.8 billion, I believe the Company is well positioned to realize further gains in the coming quarters as we work to grow our operations and continue to deliver high returns on equity, which totaled 25.7%* for the trailing 12 months.Inside the HeadlinesAdjusted earnings per share came in at $1.72, in line with the consensus mark. Earnings grew 49.6% from $1.15 per share a year ago.Total revenues of $3.36 billion missed the consensus mark by 4.5%, marking the second consecutive quarter of revenues miss. That said, revenues increased 29.5% from the year-ago figure of $2.59 billion.PulteGroup, Inc. Price, Consensus and EPS Surprise PulteGroup, Inc. price-consensus-eps-surprise-chart | PulteGroup, Inc. QuoteSegment DiscussionPulteGroup primarily operates through two business segments — Homebuilding and Financial Services.Revenues from the Homebuilding segment were up 30.8% year over year to $3.27 billion. Home sale revenues of $3.24 billion also improved 30.9% year over year, mainly due to higher deliveries and average price of homes closed. Land sale revenues improved 22.7% from a year ago to $33.1 million.The number of homes closed increased 22% year over year to 7,232. Home closings grew across all operating regions served. Average selling price of homes delivered was $447,000, up 7% year over year.Importantly, its backlog — which represents orders yet to be closed — was 20,056 units, up 52% year over year. In addition, potential housing revenues from backlog increased 70% from the prior-year quarter to $9.8 billion.Importantly, new home orders grew 28% year over year to 8,322 units for the quarter. Home orders were up across all operating regions served. Value of new orders also improved 59% from a year ago to $4.3 billion.MarginsHome sales gross margin was up 270 basis points (bps) year over year to 26.6% for the quarter. Furthermore, adjusted operating margin expanded 280 bps to 16.7%, as adjusted homebuilding SG&A expenses (as a percentage of home sales revenues) improved 20 bps year over year to 9.8%.Revenues from the Financial Services segment declined 4% year over year to $91 million. Pretax income for the segment was down to $51 million from $60 million a year ago. Higher loan volumes were offset by a competitive pricing environment.FinancialsAs of Jun 30, 2021, cash and cash equivalents were $1.66 billion, down from $2.58 billion at 2020-end. Debt to total capital of 22.7% at second quarter-end was down from 29.5% at 2020-end. In the quarter, the company repurchased 3.6 million common shares for $200 million, or an average price of $55.84 per share.Zacks Rank & Peer ReleasesPulteGroup currently has a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.D.R. Horton, Inc. DHI — which currently holds a Zacks Rank #3 — reported impressive results for third-quarter fiscal 2021. Both the top and bottom lines topped the Zacks Consensus Estimate and improved significantly on a year-over-year basis.NVR, Inc. NVR — which also holds a Zacks Rank #3 — reported second-quarter 2021 results, wherein both earnings and homebuilding revenues surpassed the Zacks Consensus Estimate as well as improved significantly from the year-ago period.KB Home KBH — currently sporting a Zacks Rank #1 — recently reported second-quarter fiscal 2021 results. Although earnings surpassed the Zacks Consensus Estimate, revenues missed the same. Nonetheless, both earnings and revenues grew significantly from a year ago buoyed by strong housing market demand. +1,500% Growth: One of 2021’s Most Exciting Investment Opportunities In addition to the stocks you read about above, would you like to see Zacks’ top picks to capitalize on the Internet of Things (IoT)? It is one of the fastest-growing technologies in history, with an estimated 77 billion devices to be connected by 2025. That works out to 127 new devices per second. Zacks has released a special report to help you capitalize on the Internet of Things’s exponential growth. It reveals 4 under-the-radar stocks that could be some of the most profitable holdings in your portfolio in 2021 and beyond.Click here to download this report FREE >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report PulteGroup, Inc. (PHM): Free Stock Analysis Report KB Home (KBH): Free Stock Analysis Report D.R. Horton, Inc. (DHI): Free Stock Analysis Report NVR, Inc. (NVR): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research