Lennar Q2 EPS $3.01; raises FY delivery guidance to 68k-70k homes

LENNAR CORP /NEW/

2023-Q2 EPS reported $5.07 revenue$14,535,580,000

Net earnings $872M ($852M adj), diluted EPS $3.01 ($2.94 adj).
Homebuilding revenue $7.6B, gross margin 22.5%, net margin 15.8%.
Homebuilding cash $4.0B, debt to capital 13.3%, no revolver borrowings.
Q3 guidance: deliveries 17,750-18,250, gross margin 23.5%-24.0%. FY23 deliveries raised to 68k-70k.
Repurchased 2M shares for $208M and $158M debt in Q2.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

LENNAR CORP /NEW/ reported second quarter ended May 31, 2023 results: revenue $8.0 billion, net income $872 million, EPS $3.01 per diluted share. Guidance raised.

Period: second quarter ended May 31, 2023
Revenue: $8.0 billion
Net income: $872 million
EPS: $3.01 per diluted share
Guidance: raised
Result: reported results

Exact text from the filing

Lennar Reports Second Quarter 2023 Results Second Quarter 2023 Highlights • Net earnings per diluted share of $3.01 ◦ $2.94, excluding mark-to-market gains on technology investments • Net earnings of $872 million ◦ $852 million, excluding mark-to-market gains on technology investments • Deliveries of 17,074 homes • New orders of 17,885 homes with a dollar value of $8.2 billion • Backlog of 20,214 homes with a dollar value of $9.5 billion • Total revenues of $8.0 billion

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Source: SEC EDGAR

accession 0001628280-23-022077

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