Loading...
•
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.
Revenue by Segment
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
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...