Lennar Corp. - Ordinary Shares - Class A

NYSE:LEN   3:59:57 PM EDT
100.29
+0.57 (+0.57%)
Other Pre-Announcement

Lennar Reports First Quarter EPS Of $3.20

Published: 03/16/2021 20:59 GMT
Lennar Corp. - Ordinary Shares - Class A (LEN) - Lennar Reports First Quarter EPS of $3.20.
Q1 Earnings per Share $3.20.
Q1 Revenue $5.3 Billion Versus Refinitiv Ibes Estimate of $5.12 Billion.
Q1 Earnings per Share Estimate $1.71 -- Refinitiv Ibes Data (analyst estimates).
Q1 Earnings per Share $2.04 Excluding Items.
Qtrly Deliveries of 12,314 Homes, Up 19%.
Qtrly New Orders of 15,570 Homes, Up 26%; New Orders Dollar Value of $6.5 Billion, Up 31%.
Average Sales Price of Homes Delivered Was $398,000 in Q1 of 2021, Compared to $402,000 in Q1 of 2020.
Revenues From Home Sales Increased 18% in Q1 of 2021 to $4.9 Billion From $4.1 Billion in Q1 of 2020.
Qtrly Backlog of 22,077 Homes, Up 25%.
Gross Margin on Home Sales Were $1.2 Billion, Or 25.0%, in Q1 of 2021, Compared to $849.0 Million, Or 20.5%, in Q1 of 2020.
Sees Q2 New Orders of 16,500 - 16,700.
Sees Q2 Deliveries of 14,200 - 14,400.
Sees Q2 Average Sales Price of $405,000.
Ended Quarter With $2.4 Billion in Cash and No Borrowings on Our Revolver.