PulteGroup (PHM) risk factors: FY2025 10-K

1. Increases in interest rates, reductions in mortgage availability, or other increases in the effective costs of owning a home have prevented potential customers from buying our homes and adversely affected our business and financial results.Interest rates
2. The homebuilding industry is cyclical and deteriorations in industry conditions or downward changes in general economic or other business conditions have historically affected our business and financial results and could do so in the future.
3. Inflation has resulted in increased costs that we may not be able to recoup and has impacted home affordability and consumer sentiment.
4. Supply shortages and other risks related to the demand for skilled labor and building materials could increase costs and delay deliveries.reworded
5. Our success depends on our ability to acquire land suitable for residential homebuilding in accordance with our land investment criteria.
6. If the market value of our land drops significantly, our profits could decrease and result in write-downs of the carrying values of land we own.
7. Competition for homebuyers could reduce our deliveries or decrease our profitability.
8. An inability to accurately predict customer preferences or demand, or to respond effectively to technological developments, including artificial intelligence, could materially impact the business.AI
9. Government regulations could increase the cost and limit the availability of our development and homebuilding projects or affect our related Financial Services operations and adversely affect our business or financial results.
10. Homebuilding is subject to warranty and other claims in the ordinary course of business that can be significant.
11. We can be injured by improper acts of persons over whom we do not have control or by the attempt to impose liabilities or obligations of third parties on us.
12. Natural disasters, severe weather conditions and changing climate patterns could delay deliveries, increase costs, and decrease demand for new homes in affected areas.
13. The impact of climate change or other governmental regulation may adversely impact our business.reworded

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1. Adverse capital and credit market conditions may significantly affect our access to capital and cost of capital.
2. Our income tax provision and tax reserves may be insufficient if a taxing authority is successful in asserting positions that are contrary to our interpretations and related reserves, if any.
3. We may not realize our deferred tax assets.
4. Our inability to sell mortgages into the secondary market could significantly reduce our ability to sell homes unless we are willing to become a long-term investor in loans we originate.
5. We are subject to claims related to mortgage loans we sold in the secondary mortgage market that may be significant.
6. We are implementing a new enterprise resource planning system, and challenges with the implementation of the system may impact our business and operations.

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1. Information technology failures or data security breaches could harm our business and result in substantial costs.Cybersecurity
2. Negative publicity could negatively impact sales, which could cause our revenues or results of operations to decline.
3. The loss of the services of members of our senior management or a significant number of our operating employees could negatively affect our business.
4. We have significant intangible assets. If these assets become impaired, then our profits and shareholders’ equity may be reduced.
5. Our business could be materially and adversely affected by epidemics, pandemics, or other public health emergencies.new

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Headings in the FY2024 10-K with no match this year.

1. Our business was materially and adversely disrupted by the outbreak and worldwide spread of COVID-19 and could be materially and adversely disrupted by another epidemic or pandemic like COVID-19, or similar public threat, or fear of such an event, and the measures that international, federal, state and local governments, agencies, law enforcement and/or health authorities implement to address it.