Taylor Morrison’s CEO told analysts “higher mortgage rates and uncertainties surrounding the economy has pushed many potential homebuyers and all consumer cohorts to the sidelines.”“SHERYL DENISE PALMER, CHAIRMAN, PRESIDENT & CEO: And lastly, our entry-level communities continued to face the most pressure as we would expect given the greatest affordability constraints among these buyers. However […]| End Corporate Profiteering
Century Communities said rising mortgage rates were hurting home sales and it would build less in response Century Communities told analysts their home sales declined as “the rapid increases in mortgage rates and overall economic uncertainty kept many homebuyers on the sidelines.” “Dale Francescon – Chairman and Co-Chief Executive Officer: Our backlog at quarter-end consisted […]| End Corporate Profiteering
Tricon Residential told analysts rising interests rates were fueling demand for their rental homes Tricon Residential CEO: “the demand for our high-quality professionally managed rental homes remains incredibly strong.” “GARY BERMAN, PRESIDENT, CEO & DIRECTOR: Thank you, Wojtek. Good morning, and welcome, everyone. I hope you’re all doing well. Let me start by saying that […]| End Corporate Profiteering
Mondelez’s CEO boasted that the company seeing sales increase even as it hiked prices Mondelez’s CEO boasted of 12% revenue growth thanks in part to “strong pricing” and “resilient demand for our brands.” “DIRK VAN DE PUT, CHAIRMAN & CEO, MONDELEZ INTERNATIONAL, INC.: Turning to Slide 5. You can see that our strategy is continuing […]| End Corporate Profiteering
BP reported billions in profit in 2022, which they used to fund $10 billion in stock buybacks with more planned BP reported profits of $10.8 billion in the fourth quarter of 2022 alone. “Murray Auchincloss – CFO & Director: Turning to results. In the fourth quarter, we reported a profit of $10.8 billion, allowing for […]| End Corporate Profiteering
Discover boasted 2022 was one of their best years ever, with billions shoveled back to their investors Discover’s CEO boasted 2022 was the “second strongest year for earnings in our company’s history.” “Roger Hochschild, CEO: I’m very pleased to say that 2022 was the second strongest year for earnings in our company’s history. We reported […]| End Corporate Profiteering
Mid America Apartments boasted of soaring rents, citing the unaffordability of single family homes Mid America Apartments reported double digits rent increases on its properties and predicted further large increases in 2023. “Tim Argo – Executive VP, Chief Strategy and Analysis Officer: Thank you, Eric and good morning everyone. Same-store performance for the quarter was […]| End Corporate Profiteering
UDR said it was passing on any inflation costs to residents and emphasized it it was aggressively raising rents UDR’s CEO: “. We like most every business are feeling the impact of inflation across our expense structure. Thus far, we have been able to pass these costs on to our residents in relatively short order”“Tom […]| End Corporate Profiteering
AvalonBay executives crowed to analysts about how much their were increasing rent AvalonBay reported a nearly 10% increase in their lease rental rates. “Sean Breslin – COO: Moving to slide 7. Our strong Q3 revenue growth of 11.8% was primarily driven by higher lease rates, which increased 9.5% year-over-year, the reduced impact of concessions, which […]| End Corporate Profiteering
Equity Residential’s CEO said the company was benefitting from low supply, high prices, and rising rates Equity Residential’s CEO described low supply, high prices, and rising mortgage rates as “positive factors for our business.” “Mark Parrell – President and Chief Executive Officer: In addition, other housing alternatives remain expensive and in low supply. Though they […]| End Corporate Profiteering