YOLFTbeta
PulteGroup Inc

PulteGroup Inc

PHM · NYSE · Consumer Cyclical / Residential Construction

127.01USD+0.11 (+0.09%)

Price History

Full chart

Market Stats

Previous Close126.90
Open126.75
Day Range125.54 – 127.53
52-Week Range107.16 – 143.57
Volume1.32M
Market Cap23.76B
P/E (TTM)13.33
Forward P/E14.77
EPS9.36
Dividend Yield0.83%
Beta1.16
50-Day Avg119.27
200-Day Avg124.03

About

PulteGroup, Inc., through its subsidiaries, engages in the homebuilding business in the United States. The company is involved in the acquisition and development of land primarily for residential purposes, as well as construction of housing; and sale of single-family detached homes; and attached homes, such as townhomes, condominiums, and duplexes under the Centex, Pulte Homes, Del Webb, DiVosta Homes, and John Wieland Homes and Neighborhoods brands. It also engages in the mortgage banking, title, and insurance agency operations. PulteGroup, Inc. was founded in 1950 and is headquartered in Atlanta, Georgia.

Company Details

  • SectorConsumer Cyclical
  • IndustryResidential Construction
  • CEOMr. Ryan R. Marshall
  • Employees6.51K
  • Headquarters3350 Peachtree Road NE, Atlanta, GA, United States, 30326, USA
  • Websitehttps://pultegroupinc.com

Leadership

  • Mr. Ryan R. MarshallPresident, CEO & Director · b. 1975
  • Mr. James L. OssowskiExecutive VP & CFO · b. 1968
  • Mr. Matthew W. KoartExecutive VP & COO · b. 1964
  • Mr. Todd N. Sheldon J.D.Executive VP, General Counsel & Corporate Secretary · b. 1968
  • Mr. Kevin Alan HenryExecutive VP & Chief People Officer · b. 1968
  • Mr. Mike GuhlSenior VP & Chief Information Officer
  • Mr. James P. ZeumerVice President of Investor Relations
  • Ms. Lisa Johnson SharpVice President of Compliance
  • Mr. Manish M. ShrivastavaVP & Chief Marketing Officer · b. 1970
  • Anthony W. BarbeeArea President of North Area

Financials

Income Statement

Currency: USD1986-12-311987-12-311988-12-311989-12-311990-12-311991-12-311992-12-311993-12-311994-12-311995-12-311996-12-311997-12-311998-12-311999-12-312000-12-312001-12-312002-12-312003-12-312004-12-312005-12-312006-12-312007-12-312008-12-312009-12-312010-12-312011-12-312012-12-312013-12-312014-12-312015-12-312016-12-312017-12-312018-12-312019-12-312020-12-312021-12-312022-12-312023-12-312024-12-312025-12-31
Total Revenue836.90M785.40M1.18B1.14B1.15B1.21B1.37B1.63B1.76B2.03B2.38B2.52B2.87B3.73B4.16B5.38B7.47B9.05B11.71B14.69B14.27B9.26B6.29B4.08B4.57B4.14B4.82B5.68B5.82B5.98B7.67B8.57B10.19B10.21B11.04B13.93B16.23B16.06B17.95B17.31B
Growth (%)--6.15%+50.14%-3.48%+1.22%+5.36%+12.86%+19.19%+7.54%+15.56%+17.51%+5.86%+13.57%+30.13%+11.49%+29.40%+38.83%+21.11%+29.42%+25.47%-2.86%-35.11%-32.10%-35.06%+11.87%-9.47%+16.52%+17.83%+2.51%+2.74%+28.19%+11.80%+18.84%+0.24%+8.06%+26.19%+16.53%-1.03%+11.74%-3.54%
Cost of Revenue695.40M644.10M------1.64B1.94B2.28B2.44B2.70B3.44B3.80B4.84B6.65B7.96B10.08B12.40B13.08B9.88B7.14B1.91B1.16B3.64B4.06B4.51B4.44B4.56B5.73B6.71B7.81B7.82B8.26B10.14B11.39B15.74B12.73B12.74B
Gross Profit141.50M141.30M1.18B1.14B1.15B1.21B1.37B1.63B116.80M88.30M109.20M88.80M170.90M293.00M363.87M546.31M825.15M1.09B1.63B2.30B1.19B-613.57M-855.14M2.18B3.41B495.35M756.16M1.17B1.38B1.42B1.94B1.86B2.37B2.40B2.78B3.78B4.83B29.30K5.22B4.57B
Gross Margin16.91%17.99%100.00%100.00%100.00%100.00%100.00%100.00%6.65%4.35%4.58%3.52%5.96%7.85%8.75%10.15%11.04%12.03%13.94%15.64%8.36%-6.62%-13.60%53.28%74.55%11.97%15.69%20.64%23.77%23.79%25.30%21.68%23.30%23.47%25.17%27.16%29.79%0.00%29.09%26.41%
Operating Expense104.30M166.40M1.08B866.90M959.20M1.02B1.16B1.39B13.20M6.30M6.70M7.80M5.00M13.50M14.23M59.66M63.17M78.63M92.43M97.28M01.69B814.65M3.42B3.91B519.58M527.56M581.60M680.85M602.68M970.95M905.38M1.03B1.04B991.25M1.15B1.38B1.31B1.33B1.57B
Operating Income37.20M-25.10M94.20M271.30M192.90M190.80M205.70M240.40M103.60M82.00M102.50M81.00M165.90M279.50M349.64M486.65M761.98M1.01B1.54B2.20B1.19B-2.31B-1.67B-1.25B-501.87M-24.24M228.60M590.66M703.28M820.49M968.86M952.98M1.35B1.35B1.79B2.64B3.45B-1.31B3.89B3.00B
Operating Margin4.44%-3.20%7.99%23.84%16.74%15.72%15.02%14.72%5.90%4.04%4.30%3.21%5.79%7.49%8.41%9.04%10.20%11.16%13.15%14.98%8.36%-24.90%-26.55%-30.52%-10.98%-0.59%4.74%10.40%12.08%13.72%12.63%11.12%13.23%13.25%16.19%18.92%21.28%-8.17%21.67%17.32%
EBITDA41.10M-21.70M94.20M271.30M192.90M190.80M205.70M240.40M116.80M88.30M109.20M88.80M170.90M293.00M363.87M519.52M791.77M1.05B1.59B2.26B1.28B-2.22B-1.60B-1.19B-456.21M7.86M258.63M622.25M743.14M866.71M1.02B1.00B1.40B1.41B1.85B2.71B3.52B-1.23B4.10B3.02B
EBITDA Margin4.91%-2.76%7.99%23.84%16.74%15.72%15.02%14.72%6.65%4.35%4.58%3.52%5.96%7.85%8.75%9.65%10.60%11.61%13.55%15.40%8.95%-24.00%-25.37%-29.19%-9.98%0.19%5.37%10.96%12.76%14.49%13.34%11.71%13.71%13.78%16.79%19.42%21.72%-7.68%22.82%17.47%
Net Income20.70M7.50M33.20M55.80M29.70M40.70M70.10M79.40M162.80M58.30M179.60M52.80M102.10M178.20M188.51M301.39M453.64M624.63M986.54M1.49B687.47M-2.26B-1.47B-1.18B-1.10B-210.39M206.15M2.62B474.34M494.09M602.70M447.22M1.02B1.02B1.41B1.95B2.62B2.60B3.08B2.22B
Net Income Margin2.47%0.95%2.82%4.90%2.58%3.35%5.12%4.86%9.27%2.87%7.53%2.09%3.56%4.78%4.53%5.60%6.07%6.90%8.42%10.15%4.82%-24.35%-23.42%-28.95%-24.00%-5.09%4.28%46.13%8.15%8.26%7.86%5.22%10.03%9.96%12.75%13.98%16.13%16.20%17.18%12.82%
R&D------------------------00000000--------
R&D as % of Total Revenue------------------------0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%--------
Interest Expense00000000000000000000002.91M2.26M185.26M1.31M819.00K712.00K849.00K788.00K686.00K503.00K618.00K584.00K4.25M502.00K284.00K415.00K479.00K605.00K
Interest Expense % of Total Revenue0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.05%0.06%4.05%0.03%0.02%0.01%0.01%0.01%0.01%0.01%0.01%0.01%0.04%0.00%0.00%0.00%0.00%0.00%

Balance Sheet

Currency: USD1986-12-311987-12-311988-12-311989-12-311990-12-311991-12-311992-12-311993-12-311994-12-311995-12-311996-12-311997-12-311998-12-311999-12-312000-12-312001-12-312002-12-312003-12-312004-12-312005-12-312006-12-312007-12-312008-12-312009-12-312010-12-312011-12-312012-12-312013-12-312014-12-312015-12-312016-12-312017-12-312018-12-312019-12-312020-12-312021-12-312022-12-312023-12-312024-12-312025-12-31
Total Assets523.70M3.74B4.89B4.33B3.99B3.63B3.71B3.81B1.94B2.05B1.99B2.13B2.35B2.49B2.89B5.71B6.87B8.07B10.41B13.05B13.18B10.23B7.71B10.05B7.70B6.89B6.73B8.73B8.57B9.19B10.18B9.69B10.17B10.72B12.21B13.35B14.80B14.45B17.36B18.05B
Total Liabilities335.50M3.52B4.64B4.02B3.68B3.28B3.22B3.25B1.23B1.29B1.16B1.32B1.43B1.39B1.64B3.43B4.11B4.62B5.88B7.09B6.60B5.91B4.87B6.86B5.56B4.95B4.54B4.09B3.76B4.43B5.52B5.53B5.36B5.26B5.64B5.86B5.88B5.08B5.24B5.06B
Total Equity188.20M225.50M254.60M305.60M316.10M356.80M481.40M556.30M710.60M761.00M829.30M812.80M921.40M1.09B1.25B2.28B2.76B3.45B4.52B5.96B6.58B4.32B2.84B3.19B2.14B1.94B2.19B4.65B4.80B4.76B4.66B4.15B4.82B5.46B6.57B7.49B8.91B9.37B12.12B12.99B
Cash78.90M370.60M------281.50M295.20M192.20M245.20M125.20M51.80M183.99M72.14M613.17M401.88M308.12M1.00B551.29M1.06B1.66B1.89B1.47B1.08B1.40B1.58B1.31B775.43M723.25M306.17M1.13B1.25B2.58B1.78B1.05B1.47B1.65B2.01B
Total Debt76.70M924.70M206.60M900.90M2.26B1.78B924.00M1.00B639.40M729.90M590.60M709.70M759.10M740.00M920.21M2.25B2.47B2.63B3.78B4.28B4.35B3.92B3.50B4.40B5.23B4.66B2.67B2.18B1.98B2.38B3.46B3.44B3.38B3.26B3.16B4.06B2.63B1.96B2.34B2.40B
Net Debt-2.20M554.10M206.60M900.90M2.26B1.78B924.00M1.00B357.90M434.70M398.40M464.50M633.90M688.20M736.22M2.17B1.86B2.23B3.48B3.28B3.80B2.86B1.85B2.51B1.92B2.01B1.24B583.50M671.84M1.60B2.74B3.14B2.24B2.00B581.92M876.08M1.58B490.93M686.20M394.37M

Cash Flow

Currency: USD1990-12-311991-12-311992-12-311993-12-311994-12-311995-12-311996-12-311997-12-311998-12-311999-12-312000-12-312001-12-312002-12-312003-12-312004-12-312005-12-312006-12-312007-12-312008-12-312009-12-312010-12-312011-12-312012-12-312013-12-312014-12-312015-12-312016-12-312017-12-312018-12-312019-12-312020-12-312021-12-312022-12-312023-12-312024-12-312025-12-31
Operating Cash Flow169.80M227.20M175.10M-180.70M-77.40M-38.40M-73.10M-45.20M-131.30M11.50M23.32M-418.80M162.20M-301.85M-698.28M18.70M-267.53M1.22B1.22B738.85M580.26M17.22M760.14M881.14M309.25M-348.13M68.27M663.08M1.45B1.08B1.78B1.00B668.47M2.20B1.68B1.87B
Investing Cash Flow133.80M104.30M-130.60M499.00M1.01B110.80M250.60M68.00M-44.70M2.50M-5.18M9.82M4.63M-34.10M-198.56M--86.89M-221.42M-55.94M1.69B-19.45M-93.63M9.71M-45.98M-67.62M-30.85M-471.19M-50.24M-41.94M-226.23M-107.95M-124.13M-171.74M-129.09M-94.48M-80.42M
Financing Cash Flow-332.00M-321.60M-40.90M-276.20M-762.70M-58.80M-280.60M31.90M54.10M-87.60M114.05M297.13M374.20M128.86M809.63M700.40M-96.18M-487.64M-567.65M-2.23B-948.40M-323.91M-448.16M-659.59M-529.09M-159.72M350.74M-1.03B-580.27M-733.56M-295.62M-1.68B-1.24B-1.31B-1.78B-1.44B
Capital Expenditure00000000158.80M24.70M00039.12M75.22M88.89M98.63M70.12M18.88M39.25M15.18M21.24M13.94M28.90M48.79M45.44M39.30M32.05M59.04M58.12M58.35M72.78M112.66M92.20M118.55M122.72M
Free Cash Flow169.80M227.20M175.10M-180.70M-77.40M-38.40M-73.10M-45.20M-290.10M-13.20M23.32M-418.80M162.20M-340.97M-773.50M-70.18M-366.15M1.15B1.20B699.60M565.08M-4.02M746.20M852.24M260.46M-393.57M28.98M631.03M1.39B1.02B1.73B931.24M555.80M2.10B1.56B1.75B
Dividends Paid2.90M2.90M6.50M6.60M6.60M6.50M6.00M5.20M6.50M6.90M6.58M8.11M9.77M13.61M25.43M33.55M40.88M41.00M41.12M-00038.38M75.65M115.96M124.67M112.75M104.02M122.35M130.18M147.83M144.12M142.46M167.71M176.68M
FCF to OCF100.00%100.00%100.00%100.00%100.00%100.00%100.00%100.00%220.94%-114.78%100.00%100.00%100.00%112.96%110.77%-375.23%136.87%94.24%98.45%94.69%97.38%-23.32%98.17%96.72%84.22%113.05%42.44%95.17%95.93%94.61%96.73%92.75%83.15%95.80%92.95%93.44%
Dividend Paid to FCF1.71%1.28%3.71%-3.65%-8.53%-16.93%-8.21%-11.50%-2.24%-52.27%28.23%-1.94%6.03%-3.99%-3.29%-47.80%-11.16%3.57%3.42%-0.00%0.00%0.00%4.50%29.04%-29.46%430.25%17.87%7.48%12.00%7.54%15.87%25.93%6.77%10.73%10.10%

Earnings

Report DateApr 24, 1996Jul 23, 1996Oct 17, 1996Jan 23, 1997Apr 23, 1997Jul 22, 1997Oct 21, 1997Jan 22, 1998Apr 23, 1998Jul 23, 1998Oct 20, 1998Jan 21, 1999Apr 27, 1999Jul 27, 1999Oct 26, 1999Jan 21, 2000Apr 25, 2000Jul 25, 2000Oct 24, 2000Jan 25, 2001Apr 24, 2001Jul 24, 2001Oct 23, 2001Jan 29, 2002Apr 23, 2002Jul 23, 2002Oct 22, 2002Jan 28, 2003Apr 24, 2003Jul 24, 2003Oct 22, 2003Jan 28, 2004Apr 26, 2004Jul 26, 2004Oct 25, 2004Feb 2, 2005Apr 27, 2005Jul 27, 2005Oct 26, 2005Feb 1, 2006Apr 26, 2006Jul 26, 2006Oct 25, 2006Jan 31, 2007Apr 25, 2007Jul 25, 2007Oct 24, 2007Jan 30, 2008Apr 23, 2008Jul 23, 2008Oct 22, 2008Feb 4, 2009May 5, 2009Aug 3, 2009Nov 4, 2009Feb 9, 2010May 5, 2010Aug 4, 2010Nov 3, 2010Feb 4, 2011Apr 28, 2011Jul 28, 2011Oct 27, 2011Feb 2, 2012Apr 26, 2012Jul 26, 2012Oct 25, 2012Jan 31, 2013Apr 25, 2013Jul 25, 2013Oct 24, 2013Jan 30, 2014Apr 24, 2014Jul 24, 2014Oct 23, 2014Jan 29, 2015Apr 23, 2015Jul 23, 2015Oct 22, 2015Jan 28, 2016Apr 21, 2016Jul 21, 2016Oct 20, 2016Jan 26, 2017Apr 25, 2017Jul 25, 2017Oct 24, 2017Jan 30, 2018Apr 24, 2018Jul 26, 2018Oct 23, 2018Jan 29, 2019Apr 23, 2019Jul 23, 2019Oct 22, 2019Jan 28, 2020Apr 23, 2020Jul 23, 2020Oct 22, 2020Jan 28, 2021Apr 27, 2021Jul 27, 2021Oct 26, 2021Feb 1, 2022Apr 28, 2022Jul 26, 2022Oct 25, 2022Jan 31, 2023Apr 25, 2023Jul 25, 2023Oct 24, 2023Jan 30, 2024Apr 23, 2024Jul 23, 2024Oct 22, 2024Jan 30, 2025Apr 22, 2025Jul 22, 2025Oct 21, 2025Jan 29, 2026Apr 23, 2026Jul 22, 2026Oct 22, 2026
EPS Estimate0.020.070.090.120.010.070.110.170.030.100.160.210.100.170.240.300.140.230.340.450.160.320.410.470.230.350.450.670.310.430.591.490.430.711.001.530.711.031.391.970.950.910.770.16-0.26-1.09-0.82-0.54-0.79-0.96-0.54-0.75-0.63-0.64-0.630.69-0.19-0.01-0.04-0.08-0.14-0.04-0.020.07-0.040.050.200.320.160.300.360.450.200.250.360.400.200.260.420.490.200.320.430.590.290.450.590.850.450.740.941.100.470.820.921.100.710.891.151.401.201.731.792.301.732.632.812.921.822.542.823.232.363.273.183.272.422.972.892.811.812.382.63
EPS Actual0.020.080.090.140.010.070.110.170.060.140.160.220.140.210.270.400.140.290.370.500.230.350.380.500.280.360.460.700.350.490.640.980.510.731.001.600.831.151.472.031.010.940.97-0.03-0.33-2.01-3.12-1.08-2.75-0.63-1.11-1.33-2.02-0.74-1.15-0.31-0.030.20-2.63-0.44-0.10-0.04-0.340.04-0.030.110.270.340.210.090.450.570.180.250.370.430.150.280.300.570.240.370.430.670.310.470.580.260.590.891.011.110.590.861.011.140.741.291.341.491.131.901.822.511.832.732.693.852.353.002.903.523.103.583.354.432.573.032.962.881.792.482.53
Surprise0.00%14.29%0.00%16.67%0.00%0.00%0.00%0.00%100.00%40.00%0.00%4.76%40.00%23.53%12.50%33.33%0.00%26.09%8.82%11.11%43.75%9.38%-7.32%6.38%21.74%2.86%2.22%4.48%12.90%13.95%8.47%-34.23%18.60%2.82%0.00%4.58%16.90%11.65%5.76%3.05%6.32%3.30%25.97%-118.75%-26.92%-84.40%-280.49%-100.00%-248.10%34.38%-105.56%-77.33%-220.63%-15.63%-82.54%-144.93%84.21%2100.00%-6475.00%-450.00%28.57%0.00%-1600.00%-42.86%25.00%120.00%35.00%6.25%31.25%-70.00%25.00%26.67%-10.00%0.00%2.78%7.50%-25.00%7.69%-28.57%16.33%20.00%15.63%0.00%13.56%6.90%4.44%-1.69%-69.41%31.11%20.27%7.45%0.91%25.53%4.88%9.78%3.64%4.23%44.94%16.52%6.43%-5.83%9.83%1.68%9.13%5.78%3.80%-4.27%31.85%29.12%18.11%2.84%8.98%31.36%9.48%5.35%35.47%6.20%2.02%2.42%2.49%-1.10%4.20%-3.80%
Timing----Pre-marketPre-marketPre-marketPre-marketPre-market--------Pre-marketPre-marketPre-marketPre-marketPre-marketPre-marketPre-marketPre-marketPre-marketPre-marketPre-marketPre-marketPre-marketAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursPre-marketPre-marketPre-marketPre-marketPre-marketPre-marketPre-marketPre-marketPre-marketPre-marketPre-marketPre-marketPre-marketPre-marketPre-marketPre-marketPre-marketPre-marketPre-marketPre-marketPre-marketPre-marketPre-marketPre-marketPre-marketPre-marketPre-marketPre-marketPre-marketPre-marketPre-marketPre-marketPre-marketPre-marketPre-marketPre-marketPre-marketPre-marketPre-marketPre-marketPre-marketPre-marketPre-marketPre-marketPre-marketPre-marketPre-marketPre-marketPre-marketPre-marketPre-marketPre-marketPre-marketPre-marketPre-marketPre-marketPre-marketPre-marketPre-marketPre-marketPre-marketPre-marketPre-marketPre-marketPre-marketPre-marketPre-marketPre-marketPre-market

Key Statistics & Ratios

Market Cap23.76B
Enterprise Value24.15B
Trailing P/E13.33
Forward P/E14.77
PEG Ratio1.34
Price / Sales1.49
Price / Book1.81
EPS9.36
Book Value70.84
Revenue (TTM)15.98B
Gross Profit (TTM)4.04B
EBITDA2.61B
Profit Margin11.24%
Operating Margin15.96%
Return on Equity13.86%
Return on Assets8.58%
Shares Outstanding190.49M
Shares Float182.63M
Beta1.16
Dividend Yield0.83%
Dividend Rate1.04
Payout Ratio10.74%

Analyst Ratings

Buy
Based on 18 analystsTarget 132.88
  • Strong Buy
    8
  • Buy
    2
  • Hold
    7
  • Strong Sell
    1

Ownership Breakdown

Institutions
99.65%
Insiders
0.68%
Retail / Other
0.00%

Top Institutional Holders

  • BlackRock Inc
    18.73M9.83%
  • Franklin Templeton Inc
    15.56M8.17%
  • Vanguard Capital Management, LLC
    12.46M6.54%
  • State Street Corp
    9.17M4.82%
  • Vanguard Portfolio Management, LLC
    8.16M4.28%
  • FMR Inc
    6.04M3.17%
  • Greenhaven Associates Inc
    5.46M2.86%
  • Geode Capital Management, LLC
    5.27M2.77%
  • NORGES BANK
    4.34M2.28%
  • T. Rowe Price Associates, Inc.
    3.58M1.88%
  • Dimensional Fund Advisors, Inc.
    3.22M1.69%
  • First Trust Advisors L.P.
    3.16M1.66%
  • LSV Asset Management
    2.73M1.44%
  • Morgan Stanley - Brokerage Accounts
    2.57M1.35%

Top Fund Holders

  • Putnam Large Cap Value A
    7.20M3.78%
  • Vanguard MStar Total Stk Mkt Idx Invest
    5.96M3.13%
  • Vanguard 500 Index Investor
    4.92M2.58%
  • Vanguard MStar Mid Cap Index Instl
    4.01M2.11%
  • iShares Core S&P 500 ETF
    2.49M1.31%
  • Fidelity 500 Index
    2.47M1.30%

Dividends

20263×
0.26Sep 15, 20260.26Jun 16, 20260.26Mar 17, 2026
20254×
0.26Dec 16, 20250.22Sep 16, 20250.22Jun 17, 20250.22Mar 18, 2025
20244×
0.22Dec 17, 20240.20Sep 17, 20240.20Jun 18, 20240.20Mar 14, 2024
20234×
0.20Dec 18, 20230.16Sep 15, 20230.16Jun 16, 20230.16Mar 17, 2023
20224×
0.16Dec 13, 20220.15Sep 21, 20220.15Jun 9, 20220.15Mar 14, 2022
20214×
0.15Dec 14, 20210.14Sep 17, 20210.14Jun 10, 20210.14Mar 11, 2021
20201×
0.14Dec 15, 2020

Stock Splits

  • Sep 2, 20052:1
  • Jan 5, 20042:1
  • Jun 2, 19982:1
  • May 31, 19832:1
  • Dec 16, 19822:1
  • Sep 8, 19802:1