PulteGroup, Inc. (NYSE:PHM) reported its better-than-expected Q4 results, with GAAP EPS of $2.61. Pricing and volume were both better than anticipated and contributed to a 41% year-over-year sales gain to $4.4 billion.

January's activity levels apparently improved versus the consistent demand seen through Q4/21. While management did not quantify the change, analysts at Wedbush think it sounded like the spring season started early this year similar to 2021. The analysts increased their 2022/2023 revenue estimate to $16.6/19.1 billion from $15.5/$17.0 billion and their 2022/2023 EPS estimate to $9.84/$11.15 from $8.01/$8.82. The analysts increased their price target on the company’s shares to $68 from $64.