earnings
confidence high
sentiment positive
materiality 0.80
Lennar Q2 net earnings $954M, EPS $3.45; orders +19%, deliveries +15%
LENNAR CORP /NEW/
2024-Q2 EPS reported
$6.01
revenue$16,078,522,000
- Net earnings $954M ($3.45 diluted EPS), up 9% YoY; adjusted EPS $3.38.
- New orders 21,293 (+19% YoY); deliveries 19,690 (+15%); avg sales price $426k (-5%).
- Homebuilding gross margin 22.6% (+10bps); S,G&A 7.5%; net margin 15.1%.
- Financial services earnings $146M (+$34M YoY); Multifamily loss $20M; Lennar Other loss $28M.
- Q3 guidance: deliveries 20,500-21,000, gross margin ~23%, Financial Services earnings $135-140M.