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Rafe Chadrosic

Senior Equity Analyst at Bank of America Corp. /de/

Rafe Jadrosich is a Senior Equity Analyst at Bank of America Securities, specializing in coverage of consumer goods and consumer cyclical companies such as Builders Firstsource, Tempur Sealy, DR Horton, PulteGroup, Mohawk, Smith Douglas Homes Corp., Dream Finders Homes, and Taylor Morrison. Jadrosich has established a strong performance track record, ranking #800 out of over 10,000 Wall Street analysts; he holds a 59% success rate on 349 professional ratings and has generated an average return of 10.4% per recommendation, with his most profitable call returning 128% on Lululemon Athletica. He began his career in equity research prior to joining Bank of America Securities and has built a substantial followership among investors for his coverage and insights. Professionally, Jadrosich holds relevant securities licenses and is FINRA registered, reflecting compliance and expertise in financial analysis.

Rafe Chadrosic's questions to PULTEGROUP INC/MI/ (PHM) leadership

Question · Q3 2025

Rafe Chadrosic asked about PulteGroup's current finished specs per community versus its target, future start planning, and the factors influencing the SG&A guidance for Q4.

Answer

Ryan Marshall, President and CEO, stated PulteGroup has about 2,000 finished specs (approximately two per community), aiming for 1.2 per community. Current start rates align with sales, with a focus on reducing finished specs and increasing built-to-order sales. David Carrier, Senior Vice President of Finance, indicated Q4 SG&A is consistent with Q3, with the wider range attributed to the closing guide and efforts to move spec inventory.

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