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Feb 28, 2021
Lennar Q1 2021 Earnings Report
Lennar reported earnings for Q1 2021, which were driven by operational excellence and a technology investment.
Key Takeaways
Lennar reported a strong first quarter in 2021, with net earnings of $1.0 billion, or $3.20 per diluted share. The results were driven by robust market conditions and the performance of their homebuilding and financial services businesses, along with a significant contribution from a technology investment.
Net earnings reached $1.0 billion, or $3.20 per diluted share, significantly up from the previous year.
Deliveries increased by 19% to 12,314 homes.
New orders rose by 26% to 15,570 homes, with a dollar value of $6.5 billion, up 31%.
Revenues increased by 18% to $5.3 billion.
Lennar
Lennar
Lennar Revenue by Segment
Revenue by Segment
Homebuilding Revenue
CapyFin.comFinancial Services Revenue
CapyFin.comMultifamily Revenue
CapyFin.comLennar Other Revenue
CapyFin.com Forward Guidance
Looking ahead to the second quarter of 2021, Lennar expects to deliver approximately 14,200 - 14,400 homes and anticipates homebuilding margins to remain at 25.0% despite rising material and labor costs.
Positive Outlook
- Deliver approximately 14,200 - 14,400 homes
- Homebuilding margins to remain at 25.0%
- Excellent balance sheet
- Continued execution of core operating strategies
- Extremely well positioned for an even stronger 2021
Challenges Ahead
- Rising material costs
- Rising labor costs
- Unspecified risks related to the housing market
- Unspecified economic conditions
- Potential impacts from the ongoing coronavirus (COVID-19) pandemic
Revenue & Expenses
Visualization of income flow from segment revenue to net income