earnings
confidence high
sentiment positive
materiality 0.85
Lennar Q1 adj. EPS $2.70 beats $2.04 YoY; raises FY delivery & margin outlook
LENNAR CORP /NEW/
2022-Q1 EPS reported
$1.69
revenue$6,203,516,000
- Net earnings $503.6M ($1.69 diluted); excluding mark-to-market losses on tech investments, adjusted EPS $2.70 vs $2.04 YoY.
- Revenues $6.2B (+16% YoY); homebuilding gross margin 26.9% (+190 bps); net margin 19.4% (+280 bps).
- Repurchased 5.3M shares for $526.3M; Board authorized new $2B share repurchase program.
- Guides Q2 deliveries 16,000-16,300; FY deliveries ~68,000 (up from 67,000); FY gross margin 27.25%-28.0% (up from 27.0%-27.5%).