Revenue segments as reported by the company.

Homebuilding

Financial Services

Multifamily 

Lennar Other

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Gross Profit, Operating Income, and Net Income as a percentage of Revenue

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An operating expense is an expense a business incurs through its normal business operations. Often abbreviated as OPEX.

Selling, general and administrative

Equity in earnings (loss) from unconsolidated entities, and other gain

Other expense, net

Lennar Other realized and unrealized gain (loss)

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Year over year growth in Revenue and Operating Expenses.

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Shares outstanding refer to a company's stock currently held by all its shareholders, including share blocks held by institutional investors and restricted shares owned by the company's officers and insiders.

Outstanding Shares

Market Cap

Also known as Price/Sales Ratio. Calculated using Average market cap for the quarter / Annualized quarterly revenue.

Revenue Multiple

Lennar

Lennar Corp. is a homebuilder company which engages in the provision of real estate related financial and investment management services. It operates through the following segments: Homebuilding East, Central, Texas, and West, Financial Services, Multifamily, and Lennar Other. The Homebuilding East, Central, Texas, and West segment constructs and sells homes primarily for first-time, move-up, and active adult homebuyers primarily under the Lennar brand name. In addition, the company's homebuilding operations purchase, develop, and sell land to third parties. The Financial Services segment focuses on mortgage financing, title, and closing services for buyers. The Multifamily segment is involved in the development, construction, and property management of multifamily rental properties. The Lennar Other segment includes strategic investments in technology companies. The company was founded by Gene Fisher and Arnold Paul Rosen in 1954 and is headquartered in Miami, FL.

Earnings data Q2 2021

Earnings data Q3 2021

Earnings data Q4 2021

Earnings data Q1 2022

Earnings data Q2 2022

Earnings data Q3 2022

Earnings data Q4 2022

Earnings data Q1 2023

Earnings data Q2 2023

Earnings data Q3 2023

Earnings data Q4 2023

Earnings data Q1 2024

Earnings data Q2 2024

Earnings data Q3 2024

Earnings data Q4 2024

Earnings data Q1 2025

Lennar manages market challenges, eyes growth through strategic initiatives

Lennar tackled market challenges with a focus on volume and cash flow.
Strong balance sheet and liquidity position the company well for growth.
Challenges include market volatility, pricing pressures, and supply shortages.
Opportunities lie in optimizing assets, strategic cash management, and proactive risk mitigation.

Lennar reports strong Q2 results, eyes growth through affordability

Lennar's Q2 performance showcased strength in financial services, cost management, and balance sheet improvements.
Challenges include moderating rental rates, supply chain disruptions, and maintaining cash flow amidst reduced owned lots.
Opportunities for growth through strategic partnerships, market share expansion, and capital allocation strategies are key focus areas.
Overall, Lennar's focus on production consistency, affordability, and strategic growth positions it well for future success.

Lennar reports strong Q3 results, eyes community growth opportunities

Lennar's strong Q3 performance reflects increased home starts, sales, and improved margins.
The company's focus on production efficiency, cost reduction, and land acquisitions is driving profitability.
Challenges include managing pricing dynamics and balancing returns versus growth.
Opportunities lie in community count growth, potential Quarterra plans revival, and strategic initiatives for cash flow.

Lennar delivers strong Q4 results, eyes growth through volume

Lennar's Q4 performance showcased growth in home deliveries and a strong financial position. The company's strategic focus on volume and efficiency drives market share gains. Challenges include managing negative leverage and interest rate impacts.

Lennar excels in Q1, addresses affordability challenges with innovation

Lennar's strong performance in Q1 driven by volume and margin improvements
Balanced focus on efficiency, affordability, and financial strength
Challenges include affordability concerns and market volatility
Opportunities lie in innovative housing solutions and strategic financial moves

Lennar Q2 2024: Strong Margins, Asset-Light Strategy Progress

Lennar's Q2 2024 earnings call highlighted strong operational and financial performance, with significant progress in their transition to an asset-light business model. The company is navigating macroeconomic challenges effectively, while strategic initiatives like the land asset spin-off present new growth opportunities. Continued focus on operational efficiency and strategic asset management is expected to sustain Lennar's market leadership.

Lennar reports strong Q3 earnings and growth outlook amidst challenges

Lennar's Q3 performance reflects strong earnings in key segments and a robust cash position, setting a positive tone for future growth.
While facing challenges like housing shortages and margin fluctuations, Lennar's strategic initiatives and market positioning offer opportunities for long-term success.
Efforts to enhance affordability and operational efficiency position Lennar well to navigate market dynamics and drive sustainable growth in the housing sector.

Lennar faces Q4 misses, eyes growth through spin-off and acquisition

Despite missing Q4 expectations, Lennar is strategically positioned for growth and efficiency improvements through asset-light transition, spin-off, and acquisition. Economic challenges persist, but the company remains optimistic about future prospects and aims for sustainable growth.

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Lennar Corp. engages in the provision of real estate related financial and investment management services. It operates through the following segments: Homebuilding, Financial Services, Multifamily, and Lennar Other. The Homebuilding segment refers to the construction and sale of single-family attached and detached homes and the purchase, development, and sale of residential land directly and through entities. The Financial Services segment focuses on mortgage financing, title, and closing services for buyers. The Multifamily segment is involved in the development, construction, and property management of multifamily rental properties. The Lennar Other segment includes funds, asset management platform, and strategic investments in technology companies. The company was founded in 1954 and is headquartered in Miami, FL.

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Lennar Corporation (NYSE:LEN ) Q4 2024 Results Conference Call December 19, 2024 11:00 AM ET Company Participants David Collins - Vice President & Controller Stuart Miller - Executive Chairman & Co-Chief Executive Officer Jon Jaffe - Co-Chief Executive Officer & President Diane Bessette - Chief Financial Officer Fred Rothman - Chief Operating Officer Marshall Ames - Chairman, Lennar Charitable Foundation Conference Call Participants Alan Ratner - Zelman & Associates Michael Rehaut - JP Morgan Stephen Kim - Evercore ISI Trevor Allinson - Wolfe Research Susan Maklari - Goldman Sachs John Lovallo - UBS Operator Welcome to Lennar's Fourth Quarter Earnings Conference Call. At this time, all participants are in a listen-only mode.

Lennar Corporation (LEN) Q4 2024 Earnings Call Transcript

Lennar Corporation's Q4 and full-year 2024 results missed expectations, with revenues down 9% y/y and EPS down 15% y/y, leading to a 6% share price drop. Management's guidance for Q1 2025 was disappointing, with new orders and deliveries expected to be lower than consensus estimates, reflecting ongoing market challenges. The relationship between Fed rate cuts and mortgage rates is complex, with high 10-year treasury yields and mortgage rates dampening housing market demand.

Lennar's Q4 Earnings Results Are Not Looking Great For 2025

Lennar's fourth-quarter fiscal 2024 report reflects tepid home deliveries due to increased interest rates and declining home sales margins.

LEN's Q4 Earnings & Revenues Miss Estimates, Stock Down on Y/Y Decline

Shares of home construction stock Lennar Corp (NYSE:LEN) are 2.7% lower at $141.98 today, and earlier hit an annual bottom of $135.21.

Lennar Stock Drops as Earnings, Revenue Miss Esitmates

Lennar said higher mortgage rates have hurt sales, but the home builder also acknowledged that it needs to cut prices more to reignite buying.

Lennar blames high rates for sales miss but says its home prices also need to fall

Shares of Lennar (LEN) fell Thursday, a day after the home builder posted weaker-than-expected results and guidance as high mortgage rates limited sales.

Home Builder Lennar Stock Falls as High Mortgage Rates Hurt Results

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U.S. stock futures were higher this morning, with the Dow futures gaining over 100 points on Thursday.

Lamb Weston Posts Weak Q2 Results, Joins Micron, Lennar And Other Big Stocks Moving Lower In Thursday's Pre-Market Session

Lennar's shares have dropped 25% in three months, with weak earnings and rising mortgage rates further pressuring the stock, now down 10% from its March peak. Q4 deliveries fell 7%, and new orders missed guidance by a significant margin, indicating a dramatic market slowdown due to higher rates. Lennar's strong balance sheet and planned spin-off of land assets into Millrose Properties offer some financial stability, but market uncertainties persist.

Lennar: Weak Q4 Results Significantly Dampen The 2025 Outlook (Rating Downgrade)

Although the revenue and EPS for Lennar (LEN) give a sense of how its business performed in the quarter ended November 2024, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.

Lennar (LEN) Reports Q4 Earnings: What Key Metrics Have to Say

Lennar (LEN) came out with quarterly earnings of $4.03 per share, missing the Zacks Consensus Estimate of $4.16 per share. This compares to earnings of $5.17 per share a year ago.

Lennar (LEN) Misses Q4 Earnings and Revenue Estimates

2024 Fourth Quarter  Highlights– comparisons to the prior year quarter Net earnings per diluted share of $4.06 ($4.03, excluding mark-to-market gains on technology investments) Net earnings of $1.1 billion New orders decreased 3% to 16,895 homes; new orders dollar value decreased 1% to $7.2 billion Backlog of 11,633 homes with a dollar value of $5.4 billion Deliveries decreased 7% to 22,206 homes Total revenues of $9.9 billion Homebuilding operating earnings of $1.5 billion Gross margin on home sales of 22.1% S,G&A expenses as a % of revenues from home sales of 7.2% Net margin on home sales of 14.9% Financial Services operating earnings of $154 million Multifamily operating loss of $0.2 million Lennar Other operating earnings of $0.5 million Homebuilding cash and cash equivalents of $4.7 billion Years supply of owned homesites of 1.1 years and controlled homesites of 82% No outstanding borrowings under the Company's $2.9 billion revolving credit facility Homebuilding debt to total capital of 7.5% Repurchased 3 million shares of Lennar common stock for $521 million In November 2024, the Company entered into a definitive agreement to acquire Rausch Coleman Homes, a residential homebuilder, which is expected to close in the first quarter of 2025 2024 Fiscal Year  Highlights - comparisons to prior year Net earnings per diluted share of $14.31 ($13.86, excluding mark-to-market gains and other one-time items, (collectively, "adjustments")) Net earnings of $3.9 billion ($3.8 billion excluding adjustments) New orders increased 11% to 76,951 homes Deliveries increased 10% to 80,210 homes Total revenues of $35.4 billion Gross margin on home sales of 22.3%; net margin of 14.9% Redeemed/repurchased $554 million of senior notes Repurchased 13.6 million shares of Lennar common stock for $2.1 billion Homebuilding return on inventory of 29.2% MIAMI , Dec. 18, 2024 /PRNewswire/ -- Lennar Corporation (NYSE: LEN and LEN.B), one of the nation's largest homebuilders, today reported results for its fourth quarter and fiscal year ended November 30, 2024. Fourth quarter net earnings attributable to Lennar in 2024 were $1.1 billion, or $4.06 per diluted share, compared to $1.4 billion, or $4.82 per diluted share in the fourth quarter of 2023.

Lennar Reports Fourth Quarter and Fiscal 2024 Results

Lennar Corporation LEN will release earnings results for its fourth quarter, after the closing bell on Wednesday, Dec. 18.

Lennar Earnings Are Imminent; These Most Accurate Analysts Revise Forecasts Ahead Of Earnings Call

MIAMI , Dec. 18, 2024 /PRNewswire/ -- Lennar Corporation (NYSE: LEN and LEN.B) ("Lennar"), one of the nation's leading homebuilders, announced that its recently formed subsidiary, Millrose Properties, Inc. ("Millrose"), has filed with the Securities and Exchange Commission a registration statement under the Securities Act of 1933 on Form S-11 relating to a planned spin-off consisting of a contribution by Lennar to Millrose of land and cash and a distribution of Millrose's stock to Lennar's stockholders (the "Spin-Off"). The planned Spin-Off is subject to final approval from the Lennar Board of Directors and other customary conditions.

Lennar Subsidiary Makes SEC Filing Regarding Planned Spin-Off

Lennar operates in about half of U.S. states, giving it good visibility into housing trends.

Home Builders See a Busy Spring. Lennar's Outlook Will Set the Tone.

LEN's fiscal fourth-quarter 2024 results are likely to reflect decreased deliveries with a flat gross margin and higher SG&A expenses.

Should You Buy, Hold or Fold Lennar Stock Ahead of Q4 Earnings?

Evaluate the expected performance of Lennar (LEN) for the quarter ended November 2024, looking beyond the conventional Wall Street top-and-bottom-line estimates and examining some of its key metrics for better insight.

Lennar (LEN) Q4 Earnings on the Horizon: Analysts' Insights on Key Performance Measures

Lennar (LEN) concluded the recent trading session at $155.47, signifying a -1.7% move from its prior day's close.

Why Lennar (LEN) Dipped More Than Broader Market Today

Lennar (LEN) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.

Analysts Estimate Lennar (LEN) to Report a Decline in Earnings: What to Look Out for

Lennar (LEN) might move higher on growing optimism about its earnings prospects, which is reflected by its upgrade to a Zacks Rank #2 (Buy).

Lennar (LEN) Upgraded to Buy: Here's Why

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This article is part of our monthly series where we highlight five large-cap, relatively safe, dividend-paying companies offering significant discounts to their historical norms. We go over our filtering process to select just five conservative DGI stocks from more than 7,500 companies that are traded on U.S. exchanges, including OTC networks. In addition to the primary list that yields about 3.28%, we present two other groups of five DGI stocks each, from moderate to high yields of up to 9%.

5 Relatively Secure And Cheap Dividend Stocks For December 2024: Yields Up To 9%

MIAMI , Dec. 5, 2024 /PRNewswire/ -- Lennar Corporation (NYSE: LEN and LEN.B), one of the nation's largest homebuilders, announced today that the Company will release earnings for the fourth quarter ended November 30, 2024 after the market closes on December 18, 2024. Additionally, the Company will hold a conference call on December 19, 2024 at 11:00 a.m.

Lennar Corporation's Fourth Quarter Earnings Conference Call to Be Broadcast Live on the Internet

DALLAS , Dec. 5, 2024 /PRNewswire/ -- Lennar, one of the nation's leading homebuilders, today announced plans to equip select Lennar communities in the Austin and Dallas-Fort Worth area with home backup battery systems by Base Power. Through this collaboration, Lennar homeowners will have the opportunity to register for Base's monthly electricity service and receive a complimentary Base backup battery.

Lennar and Base Power to Provide Homeowners a Battery-Powered Home Energy Service in Key Texas Markets

Lennar (LEN) closed at $173.58 in the latest trading session, marking a +0.06% move from the prior day.

Lennar (LEN) Outperforms Broader Market: What You Need to Know

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