earnings
confidence high
sentiment positive
materiality 0.85
Lennar Q1 EPS $2.57 (+25% YoY); new orders +28%; raises dividend 33% to $2.00
LENNAR CORP /NEW/
2024-Q1 EPS reported
$2.57
revenue$7,312,930,000
- Net earnings $719M, diluted EPS $2.57 vs $2.06 YoY; revenue $7.3B (+13%).
- New orders 18,176 homes (+28%); deliveries 16,798 (+23%); avg sales price $413K (-8%).
- Gross margin 21.8% (+60 bps); net margin 13.6%; homebuilding debt-to-capital 9.6%.
- Repurchased 3.4M shares for $506M; board authorized additional $5B buyback.
- Annual dividend raised 33% to $2.00/share; Q2 guidance: 19,000-19,500 deliveries, ~22.5% gross margin.