Lennar Corp reported strong second-quarter earnings, surpassing Wall Street estimates. The company's Q2 profit was driven by a 19% increase in new orders, reaching 21,293 homes, and a 15% rise in deliveries to 19,690 homes. Lennar's diluted EPS increased 15% to $3.45, while adjusted EPS stood at $3.38, both exceeding expectations. The company reported total revenue of $8.8 billion, beating the FactSet estimate of $8.48 billion. Lennar's net earnings rose 9% to $954 million. Despite a 5% decrease in home prices, Lennar's financial services segment saw earnings rise to $146 million from $112 million a year earlier. The company has a backlog of 17,873 homes with a dollar value of $8.2 billion. Lennar provided Q3 guidance, expecting new orders and deliveries to range between 20,500 and 21,000 and an average sales price of $420,000 to $425,000.
.@Lennar, the nation's largest homebuilder, said revenue rose 10% to $8.8 billion in the quarter ended May 31, while earnings climbed 9% to $954 million. Orders totaled 21,293, while completions increased 15% to 19,690. https://t.co/pdbVSpCb9U
Lennar Earnings Breakdown ( $LEN ) RESULTS 🟢 Revenue: $8.77B (est $8.51B) 🟢 EPS: $3.45 (est $3.23) GUIDE ◽️ Q3 New Orders: 20.75K (+6% YoY) ◽️ Q3 Deliveries: 20.75K (+12% YoY) ◽️ Q3 Avg Selling Price: $423K (-6% YoY) https://t.co/UxqEkurC3S
1/ Lennar Corporation $LEN Q2 2024 Results: Beat Earnings by ~5% & Beat Revenue expectations by ~3% Total Revenue: $8.77 Bn, up 9% YoY, up 20% QoQ Net earnings: $954 MM, up 9% YoY, up 33% QoQ Shares down ~3% after results https://t.co/4FgUqXt0zs
Lennar's "Financial Services" segment, aka their in-house mortgage lender, saw earnings of $146M in Q2 2024, up from $112M a year earlier. The increase was "primarily due to higher volume from increased capture rate and Lennar deliveries." Hard to beat their mortgage rates... https://t.co/xVVuJk69ZF
Updated Home Construction Landscape - $LEN Earnings to Drive Volatility Tomorrow $LEN and $KBH (earnings later this week) highlighted - color scales highlight names running hot on what looks like at least a marginal selling event in the space on $LEN's outlook. https://t.co/tsYWW5aVTC https://t.co/m1DNuevrFf
Lennar Corp $LEN Earnings: - Diluted EPS of $3.45 (+15% YoY) - Adjusted Diluted EPS of $3.38 - Revenue of $8.8 billion Stuart Miller, Executive Chairman and Co-Chief Executive Officer of Lennar, said, “We are pleased to report another strong quarter against the backdrop of… https://t.co/h4QAaoU91u
Lennar’s Earnings Beat Estimates. Homes Are Selling With the Right Incentives. https://t.co/TUGYfrguWx
Lennar surpasses earnings projections in second quarter despite 5% decrease in home prices, signaling significant development for real estate industry. $LEN.B
Lennar $LEN Earnings Recap - As Highlighted, Margins an Issue The reported quarter was fine absent elevated selling costs, but the forward margin outlook disappoints as do modest shortfalls in orders / deliveries. Stock -2% in response, which feels understated. https://t.co/2fnPhwCsyf https://t.co/JR20aIrzeI
Lennar Q2 results top estimates despite fall in home prices as high rates weigh https://t.co/MXZlYPcitx https://t.co/GW6wg1cg6X
Lennar double beat. CEO: "...purchasers remained responsive to increased sales incentives, resulting in a 19% increase in our new orders and a 15% increase in our deliveries YoY" $LEN: -1.6% AH https://t.co/bqc9vGHSRE
🔵 LENNAR'S Q2 PROFIT TOPS ESTIMATES ON HIGHER HOME DELIVERIES Lennar Corp beat Wall Street estimates for second-quarter profit on Monday, as historically low existing supply of houses led to sustained demand for new home construction. Full Story via Reuters on PiQ Suite -… https://t.co/QoKV0Z7IiC
$LEN Earnings: - Net earnings per diluted share increased 15% to $3.45 - Net earnings increased 9% to $954 million - New orders increased 19% to 21,293 homes - Backlog of 17,873 homes with a dollar value of $8.2 billion - Deliveries increased 15% to 19,690 homes - Total revenues… https://t.co/VzceLw5qAR
Lennar Q2 New Orders Rise 19% to 21,293 Remember that new home sales aren't even at the tech recession levels today. Not the highest bar ever to work from https://t.co/QODOLeaCUP
$LEN Lennar reports Q2 EPS $3.45 vs FactSet $3.23 Reports Q2: Revenue $8.80B vs FactSet $8.48B [16 est, $8.15-8.73B] Q3 Guidance: New Orders 20,500 - 21,000 Deliveries 20,500 - 21,000
$LEN | Lennar Q2 Earnings: - Adj EPS $3.38 (Est. $3.24)🟢 - Sales $8.77B (Est. $8.52B)🟢 - Sees Q3 New Orders 20,500-21,000 - Sees Q3 Avg. Sales Price $420K-$425K
Lennar $LEN results out at 4:30 PM ET today - call is tomorrow, however, and we'll get more stock moving commentary then concerning the demand environment. I do not think that this is a favorable setup for $LEN even with recent weakness given the still elevated multiple. https://t.co/JR20aIs74g
Pretty interested to see $LEN earnings today given all the bad vibes around the homebuilding-industrial complex in May.
Lennar $LEN Earnings Setup - Are Builders Sacrificing Too Much Margin to Fill Order Book? Results out Monday afternoon for the world's second largest homebuilder (#1 = $DHI) - some underperformance of late on the back of 3 straight earnings day declines. 10x forward is not… https://t.co/RhOBIXaImm https://t.co/CkNGCufE2u