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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Free cash flow

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.

D.R. Horton

The Wall Street Journal reported last week that the National Association of Home Builders' (NAHB) sentiment about the future was 33% and at its lowest since 2012. As you can guess, the contrarianism in us kicked into high gear.

Home Builders' Sentiment

Lennar (LEN) witnessed a jump in share price last session on above-average trading volume. The latest trend in earnings estimate revisions for the stock doesn't suggest further strength down the road.

Lennar (LEN) Moves 12.6% Higher: Will This Strength Last?

Reservations Begin in 2023 for the 100-home Community Codesigned by BIG-Bjarke Ingels Group GEORGETOWN, Texas , Nov. 10, 2022 /PRNewswire/ -- Lennar, one of the nation's leading homebuilders, and ICON, a construction technologies company pioneering large-scale 3D printing, announced today that construction on the largest community of 3D-printed homes is underway and reservations will begin in 2023. Situated north of Austin in the city of Georgetown's master-planned community of Wolf Ranch by Hillwood Communities, a Perot company, the 100-home community combines innovative robotics, software and advanced materials to create homes that are technologically advanced, environmentally sustainable and architecturally striking.

LENNAR ANNOUNCES VISIONARY COMMUNITY OF 3D-PRINTED HOMES WITH ICON IS NOW UNDERWAY IN GEORGETOWN, TX

PulteGroup

Toll Brothers

Last week, real estate firm Zumper reported that rents in Boston had jumped 20% year over year. The median cost for a one-bedroom apartment now sits at $3,060 — a figure that would consume 45% of a median worker's salary, or afford about 340 servings of avocado toast.

Wait! Why Smart Homebuyers Will Wait Until 2024 to Buy a House.

Home Point Capital

Opendoor

Redfin

Rocket Companies, Inc.

Zillow

Perhaps the most debated topic of the new normal, the concept of real estate stocks to sell finally achieved mass-scale credibility. It all comes down to fundamental realities and it's better to not overthink it.

Hurry! 7 Pitiful Real Estate Stocks to Sell Before 2022 Ends

KB Home

M.D.C. Holdings

Demand within the US housing market has effectively “cratered” as mortgage rates surged to their highest level in decades, Raymond James analysts warned in a recent note to clients.

Analysts warn US housing demand ‘cratered' as mortgage rates ‘ensure' recession

Expectations for the Federal Reserve's monetary tightening are likely to remain consequential to home builders.

Home Builder Stocks Are Way Down. A Calmer Bond Market Could Help.

Raymond James analysts Buck Horne and Tousley Hyde on Friday downgraded shares of KB Home KBH, -0.60% , Lennar Corp. LEN, -1.26% , M.D.C. Holdings Inc. MDC, +0.31% , PulteGroup Inc. PHM, -1.53% and Toll Brothers Inc. TOL, -1.52% to market perform and cut their rating on D.R.Horton to outperform from strong buy.

Raymond James downgrades homebuilder stocks as 7% mortgage rates 'cripple' housing affordability

Zacks.com users have recently been watching Lennar (LEN) quite a bit. Thus, it is worth knowing the facts that could determine the stock's prospects.

Is Most-Watched Stock Lennar Corporation (LEN) Worth Betting on Now?

With mortgage rates rising on the back of climbing interest rates, homebuilder sentiment in the single-family home market has tumbled to half of what it was six months ago.

3 Outperforming Homebuilders to Consider as Sentiment Declines

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Global Medical REIT

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Kite Realty Group

Medical Properties Trust

Postal Realty Trust

Simon Property Group

Spirit Realty Capital

STAG Industrial

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Uniti Group

Real estate is a huge part of the economy, but it is a nuanced asset class. Property type, location, and financing each play a factor in how it ultimately performs.

Our Spring-Loaded REIT Portfolio Heading Into Q4 2022

The rise of interest rates brought an increase in mortgage rates, progressively weakening the US housing sector.

KeyBanc analyst Ken Zenner says its time to invest in homebuilders

Accenture Plc

Adobe

Costco

FedEx

General Mills

Oracle

Estimates for the last two quarters of this year and full-year 2023 are coming down, even though positive revisions to the Energy sector continue to partly offset estimate cuts elsewhere.

Are Earnings Estimates Out of Sync with the Economy?

“XHB” – the SPDR S&P Homebuilders ETF ended about 5.0% up on Wednesday even though the National Association of Realtors said pending home sales in the U.S. were down 2.0% last month. KeyBanc is now ‘overweight' homebuilder stocks Housing is having a rather difficult year as the U.S.

Ken Zenner finally turns bullish on homebuilder stocks

New homes sales surprisingly rise in August and home prices fall. However, rising rates pose concerns for stocks like KBH, LEN, DHI and TOL.

New Home Sales Soar, Price Falls: Is Housing Mayhem Over?

SPDR S&P Homebuilders ETF

Shares of companies in the real estate services and home building space backed way off their intraday highs on Tuesday, as another surge in Treasury yields to a more-than decade high took the early shine off surprisingly strong economic data.

Housing market stocks give up gains as another jump in bond yields takes shine off strong data

Let's see if Lennar (LEN) stock is a good choice for value-oriented investors right now from multiple angles.

Is Lennar (LEN) a Suitable Value Investor Stock Now?

On a short-term view (1-2 years), the housing market is still undergoing a reset that should persist throughout 2023; however, a crash scenario is remote. Inevitably, high mortgage rates, supply chain constraints, and falling affordability ultimately drive home prices down.

A Dive Into The Housing Market - Part 2: Lennar Is One Of My Top Picks

Beazer Homes USA

Well, folks, the talk of the week has certainly been about the Federal Open Market Committee (FOMC) meeting this past Wednesday. As we talked about on Thursday, the Federal Reserve voted unanimously to raise key interest rates by 75 basis points for the third-straight time.

Interest Rate Hike Hurts Homebuilders

Lennar Corporation (NYSE:LEN ) Q3 2022 Results Conference Call September 22, 2022 11:00 AM ET Company Participants Alexandra Lumpkin - Deputy General Counsel Stuart Miller - Executive Chairman Diane Bessette - CFO Jon Jaffe - CO-CEO and Co-President Rick Beckwitt - Co-CEO and Co-President Conference Call Participants Truman Patterson - Wolfe Research Susan Maklari - Goldman Sachs Stephen Kim - Evercore ISI Alan Ratner - Zelman & Associates John Lovallo - UBS Mike Rehaut - JP Morgan 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 2022 Earnings Call Transcript

Homebuilders Lennar (NYSE: LEN ) and KB Home (NYSE: KBH ) both reported stronger-than-expected quarterly profits yesterday after the market closed. However, elements of both companies' results indicate that the growth of the housing market is, as many had expected, slowing tremendously due to rising interest rates.

LEN, KBH Stocks in Focus as Housing Market Recession Looms

The Golden Age of Homebuilding is over, killed by the FOMC and their aggressive rate hikes, and a correction is coming that could shave 10% off the market.

Is The Golden Age Of Homebuilding Already Over?

Investors are still hopeful for a reprieve, but macroeconomic impacts could be big headwinds to growth.

The Fed Could Crush This Industry, and These 2 Stocks Are Feeling the Pressure

Benefits from higher pricing, operating leverage and cost control help Lennar (LEN) post better-than-expected fiscal Q3 earnings amid rising rates & affordability woes.

Lennar (LEN) Q3 Earnings Beat, Revenues Miss, Demand Strong

Lennar (LEN) delivered earnings and revenue surprises of 8.82% and 1.18%, respectively, for the quarter ended August 2022. Do the numbers hold clues to what lies ahead for the stock?

News for Lennar Stock (LEN)