Industry News

Three builders report net quarterly losses

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Home builder The Ryland Group Inc. (NYSE:RYL) on Wednesday reported a net loss of $54.7 million for the third quarter ended Sept. 30, or $1.30 per share; builder MDC Holdings (NYSE:MDC) announced a net loss of $155.4 million for the third quarter, or $3.40 per share; and Pulte Homes (NYSE:PHM) had a net loss of $787.9 million, or $3.12 per share, for the quarter. Wall Street analysts had expected losses of 88 cents per share for Ryland, losses of $1.46 per share for MDC, and losses of 80 cents per share for Pulte, according to Thomson Financial Network. Ryland had net earnings for the same quarter last year of $87.9 million, or $1.97 per share. MDC had earnings of $48.7 million, or $1.06 per share, in 2006. And Pulte had net earnings of $191.5 million in third-quarter 2006, or 74 cents per share. Ryland Third-Quarter Earnings Ryland's home-building segments had a pretax loss of $90 million in the third quarter, compared with pretax earnings of $141.3 million for third-qu...