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    Paul Przybylski

    Research Analyst at Wolfe Research, LLC

    Paul Przybylski is Vice President and Senior Equity Research Analyst at Wolfe Research, LLC, with expertise in the homebuilding and residential construction sector. He covers major publicly traded companies including Taylor Morrison Home and PulteGroup, actively participating in earnings calls and delivering actionable investment insights. Przybylski joined Wolfe Research in 2021, following previous experience at International Strategy and has established himself as a core partner on the Homebuilders team. He is registered with FINRA and holds appropriate securities licenses, reflecting a high level of professional qualification in equity research.

    Paul Przybylski's questions to Smith Douglas Homes (SDHC) leadership

    Paul Przybylski's questions to Smith Douglas Homes (SDHC) leadership • Q2 2025

    Question

    Paul Przybylski from Wolfe Research asked for an update on the M&A environment, any changes to land underwriting standards, and trends in land financing costs.

    Answer

    EVP and CFO Russell Devendorf stated that while M&A opportunities exist, the company is comfortable with its proven greenfield model, which preserves culture and utilizes internal talent. President and CEO Gregory Bennett added that there have been no significant changes to overall underwriting standards or land financing terms, with the company remaining conservative and focused on maintaining pace.

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    Paul Przybylski's questions to PULTEGROUP INC/MI/ (PHM) leadership

    Paul Przybylski's questions to PULTEGROUP INC/MI/ (PHM) leadership • Q2 2025

    Question

    Paul Przybylski of Wolfe Research, LLC asked about the elasticity of incentives across different consumer segments and requested color on incentive levels for each segment relative to the 8.7% average. He also inquired about any order impact from the FHA eligibility change for non-resident buyers.

    Answer

    President & CEO Ryan Marshall noted there is actually price inelasticity, meaning that higher incentives do not necessarily drive justifiable incremental volume. He explained that incentives are used across all buyer groups but differ in form: rate buydowns for first-time buyers, and price discounts or option incentives for move-up and active adult buyers. EVP & CFO James Ossowski stated that the FHA rule change had no real impact as it affects a very small portion of their business.

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    Paul Przybylski's questions to Taylor Morrison Home (TMHC) leadership

    Paul Przybylski's questions to Taylor Morrison Home (TMHC) leadership • Q1 2025

    Question

    Paul Przybylski asked for color on demand changes in Texas and Florida markets, as well as the company's perspective on M&A and the Indianapolis integration.

    Answer

    Sheryl Palmer, Chairman and CEO, detailed market performance, noting Florida's year-over-year strength led by Orlando and the Esplanade brand. In Texas, she highlighted Austin's recovery, Dallas's high-margin growth, and Houston's successful repositioning. Erik Heuser, Chief Corporate Operations Officer, added that resale inventory in Florida had improved. Regarding M&A, Palmer noted an increase in deal flow from smaller privates but said valuation expectations have not fully recalibrated. She confirmed the Indianapolis integration is largely complete and performing well.

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    Paul Przybylski's questions to AMERICAN WOODMARK (AMWD) leadership

    Paul Przybylski's questions to AMERICAN WOODMARK (AMWD) leadership • Q3 2025

    Question

    Paul Przybylski, on behalf of Trevor Young, inquired about the specific contributions of the slower Repair & Remodel (R&R) market versus builder inventory reductions to the company's reduced guidance. He also asked if the company has seen any positive business impact from recent hurricanes or wildfires.

    Answer

    Executive M. Culbreth confirmed that both softer R&R demand and new construction inventory reductions were key drivers of the quarterly performance and the revised full-year outlook, expecting a similar environment in Q4. Culbreth added that while there were some positive, non-material impacts in Florida from hurricanes, there was no specific impact observed from the fires in Southern California.

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    Paul Przybylski's questions to Tri Pointe Homes (TPH) leadership

    Paul Przybylski's questions to Tri Pointe Homes (TPH) leadership • Q4 2024

    Question

    Paul Przybylski inquired about the drivers behind the sequential increase in average sales price for orders, asking if it was due to mix or pricing power. He also asked about the potential impact of tariffs, political uncertainty in the Mid-Atlantic, and insurance issues in California on the business.

    Answer

    CEO Douglas Bauer and CFO Glenn Keeler clarified that the ASP increase was due to mix. Bauer noted that pricing power varies by submarket from 1% to 5%. Regarding external factors, he stated there has been no negative business impact in the D.C. Metro area and that the company is managing California insurance issues for entry-level buyers through its Tri Pointe Assurance program and targeted incentives.

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