Lennar Corp. - Ordinary Shares - Class A

NYSE:LEN   3:59:57 PM EDT
98.70
+2.57 (+2.67%)
4:00:00 PM EDT: $98.73 +0.03 (+0.03%)
Other Pre-Announcement

Lennar Reports Q3 Earnings Per Share $2.12

Published: 09/14/2020 22:31 GMT
Lennar Corp. - Ordinary Shares - Class A (LEN) - Lennar Reports Third Quarter EPS of $2.12.
Q3 Earnings per Share $2.12.
Q3 Earnings per Share Estimate $1.55 -- Refinitiv Ibes Data (analyst estimates).
Q3 Revenue $5.9 Billion Versus Refinitiv Ibes Estimate of $5.47 Billion.
Qtrly Deliveries of 13,842 Homes, Up 2%.
Qtrly New Orders of 15,564 Homes, Up 16%.
Qtrly New Orders Dollar Value of $6.3 Billion, Up 20%.
Quarter-end Backlog of 19,697 Homes, Up 4%.
Average Sales Price of Homes Delivered Was $396,000 in Q3 of 2020.
Paid Off About $400 Million of Debt During Quarter.
Gross Margin on Home Sales Were $1.3 Billion, Or 23.1%, in Q3 of 2020, Compared to $1.1 Billion, Or 20.4%, in Q3 of 2019.
Ended Quarter With $2.0 Billion in Cash & Homebuilding Debt to Capital Ratio of 29.5%.
Expect Q4 Closings of 15,500 - 16,000 Homes With Gross Margins in 23.25% - 23.5% Range.
Revenues From Home Sales Increased 3% in Q3 of 2020 to $5.5 Billion From $5.3 Billion in Q3 of 2019.
Expect Q4 Sales Between 13,800 and 14,300 Homes.