Revenue segments as reported by the company.

Homebuilding

Financial Services

Multifamily 

Lennar Other

Revenue Segments

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

Gross Margin

Operating Margin

Profit Margin

Margins

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)

Operating Expenses

Year over year growth in Revenue and Operating Expenses.

Revenue Y/Y

OpEx Y/Y

Growth

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 Q1 2021

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

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.

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Cost of revenue

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SG&A

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EBITDA

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Minority interest

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Book value per share

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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.

Lennar (LEN) is benefiting from playbook and land-lighter strategies, accompanied with its digital marketing and dynamic pricing initiatives. However, high costs and inflation hurt growth prospects.

Here's Why You Should Hold on to Lennar (LEN) Stock Now

D.R. Horton

Home Depot

iShares U.S. Home Construction ETF

KB Home

PulteGroup

Shares of homebuilders were taking a broad beating Friday, after the stronger-than-expected jobs data sent Treasury yields to fresh 16-year highs, making new homes less affordable. The iShares U.S. Home Construction ETF ITB, -0.75% sank 1.2% toward a four-month low, with 43 of 46 components losing ground.

Homebuilder stocks take a broad beating after jobs data sends Treasury yields to fresh 16-year highs

People seem to be worried about a housing market crash. Warren Buffett isn't one of them.

Housing Market Crash 2024: Did Warren Buffett Read the Signals Wrong?

Toll Brothers

The numbers: Sales of newly built homes in the U.S. fell in August as interest rates and home prices stayed elevated, dampening buyer demand.

U.S. new-home sales fall 8.7% in August amid high mortgage rates

Homebuilding stocks, traditionally seen as indicators of economic health and consumer confidence, may currently be sending cautionary signals to discerning investors. The once-vibrant real estate market seems to be on a tenuous footing, with recent data suggesting potential headwinds.

3 Homebuilding Stocks to Skip as Sector Confidence Slides

Builders FirstSource

Shares of home builders took a broad beating Thursday, amid growing concerns over housing affordability as interest rates have been surging. The iShares U.S. Home Construction ETF ITB dropped 2.6% in morning toward the lowest close since June 5, with 44 of 46 of its equity components losing ground.

Homebuilder stocks take a broad beating as rising long-term interest rates raises affordability concerns

Lennar Corporation's 3Q23 results show strong order growth, leading to a revision of the rating from hold to buy. The company's performance exceeded expectations, with operating EPS of $3.91 and robust order increases in multiple regions. Management's proactive approach to reducing cycle times and improving efficiency, along with a solid balance sheet, support positive near-term outlook and continued growth.

Lennar Corporation: Rating Upgrade As Orders Momentum Was A Positive Surprise

MIAMI , Sept. 20, 2023 /PRNewswire/ -- Lennar Corporation (NYSE: LEN and LEN.B), one of the nation's leading homebuilders, announced today that Lennar's Board of Directors has increased the size of its Board to 11 members and has elected Dacona Smith to serve as a member of the Board of Directors, effective September 22, 2023, for a term extending until Lennar's 2024 Annual Meeting of Stockholders.

Lennar Elects Dacona Smith to the Board of Directors

Li Auto Inc.

LI and LEN made it to the Zacks Rank #1 (Strong Buy) momentum stocks list on September 20, 2023.

Best Momentum Stocks to Buy for September 20th

Apple

Amazon

Goldman Sachs

AutoZone

Chewy

Dollar General

General Mills

Johnson & Johnson

Kenvue

On Holding AG

Pinterest

Ventas

Here are some of the tickers on my radar for Wednesday, Sept. 20, taken directly from my reporter's notebook.

Here are the 14 stocks Jim Cramer is watching, including Apple, Goldman Sachs, Amazon

Netflix

Planet Fitness

American Airlines

ARM Holdings PLC

Carvana

Delta Air Lines

Mastercard

PayPal

Visa

Valero Energy

Exxon Mobil

Here are some of the tickers on my radar for Monday, Sept. 18 taken directly from my reporter's notebook.

Here are the 12 stocks Jim Cramer is watching, including Netflix, Arm, Planet Fitness

Lennar Corporation (NYSE:LEN ) Q3 2023 Earnings Conference Call September 15, 2023 11:00 AM ET Company Participants David Collins - Controller and Vice President Stuart Miller - Executive Chairman Jon Jaffe - Co-Chief Executive Officer and President Diane Bessette - Chief Financial Officer Conference Call Participants Truman Patterson - Wolfe Research Susan Maklari - Goldman Sachs Stephen Kim - Evercore ISI Carl Reichardt - BTIG Alan Ratner - Zelman & Associates Ken Zener - Seaport Research Partners John Lovallo - UBS Operator Welcome to Lennar's Third Quarter Earnings Conference Call. At this time, all participants are in a listen-only mode.

Lennar Corporation (LEN) Q3 2023 Earnings Call Transcript

Lennar's (LEN) fiscal third-quarter results benefit from higher deliveries.

Lennar (LEN) Q3 Earnings Beat, Orders Rise, Stock Falls

The homebuilders and Lennar NYSE: LEN have rallied higher in 2023, defying the odds despite a slowdown in the housing market. While there have been reasons to believe the industry was heading towards a cliff, the results continue to tell a different tale.

3 Reasons Price Weakness Is a Buying Opportunity For Lennar

Lennar (LEN) came out with quarterly earnings of $3.91 per share, beating the Zacks Consensus Estimate of $3.47 per share. This compares to earnings of $5.18 per share a year ago.

Lennar (LEN) Q3 Earnings and Revenues Surpass Estimates

Although the revenue and EPS for Lennar (LEN) give a sense of how its business performed in the quarter ended August 2023, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.

Compared to Estimates, Lennar (LEN) Q3 Earnings: A Look at Key Metrics

Lennar reported better-than expected fiscal third-quarter earnings and revenue Thursday.

Warren Buffett's S&P 500 Housing Market Play Just Surprised Wall Street

Homebuilder Lennar Corp. Inc. LEN, +1.49% on Thursday reported third-quarter results that beat estimates, as the market “remained constructive for new homebuilders,” the company said. Lennar reported third-quarter net income of $1.11 billion, or $3.87 a share, compared with $1.47 billion, or $5.03 a share, in the same quarter last year.

Homebuilder Lennar beats estimates, says market remains ‘constructive'

Net earnings per diluted share of $3.87 $3.91, excluding mark-to-market losses on technology investments Net earnings of $1.1 billion Deliveries increased 8% to 18,559 homes New orders increased 37% to 19,666 homes; new orders dollar value increased 30% to $8.6 billion Backlog of 21,321 homes with a dollar value of $9.9 billion Total revenues of $8.7 billion Homebuilding operating earnings of $1.5 billion Gross margin on home sales of 24.4% S,G&A expenses as a % of revenues from home sales of 7.0% Net margin on home sales of 17.4% Financial Services operating earnings of $148 million Multifamily operating loss of $9 million Lennar Other operating loss of $26 million Homebuilding cash and cash equivalents of $3.9 billion Years supply of owned homesites of 1.5 years and controlled homesites of 73% No outstanding borrowings under the Company's $2.6 billion revolving credit facility Homebuilding debt to total capital of 11.5% Redeemed $425 million of 5.875% homebuilding senior notes due November 2024 Repurchased $50 million aggregate principal amount of senior notes due in fiscal year 2024 Repurchased 3 million shares of Lennar common stock for $366 million MIAMI , Sept. 14, 2023 /PRNewswire/ -- Lennar Corporation (NYSE: LEN and LEN.B), one of the nation's leading homebuilders, today reported results for its third quarter ended August 31, 2023.

Lennar Reports Third Quarter 2023 Results

The shares of Lennar Corporation (NYSE:LEN) are 1.4% higher at $117.55 this morning, earlier topping $117.87 as investors prepare for the homebuilder's third-quarter earnings report, which is due out before tonight's close.

Homebuilding Stock Moves Higher Before Earnings

Lennar Corp. is scheduled to report earnings after Thursday's close. Here is a closer look at what Wall Street expects.

What To Expect From Lennar's Earnings Today

High mortgage rates and a limited supply of previously owned houses have boosted builder stocks as buyers seek new homes.

Lennar's Earnings Are a Read on Housing. Demand for New Homes Is Strong.

Warren Buffett-backed Lennar reports third-quarter earnings Thursday.

This Warren Buffett Stock's Earnings Are a Litmus Test For The U.S. Housing Market

Adobe

The pace of earnings reports has slowed to a trickle as the end of the September quarter approaches.

Earnings Previews: Adobe, Lennar

Lennar's (LEN) fiscal third-quarter performance is likely to reflect higher pricing and operating leverage positives.

News for Lennar Stock (LEN)