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May 31, 2020
Lennar Q2 2020 Earnings Report
Lennar reported second quarter earnings with EPS of $1.65.
Key Takeaways
Lennar Corporation reported a decrease in revenues of 5% to $5.3 billion. EPS increased to $1.65, up from $1.30 in the prior year. The company's homebuilding gross margin increased to 21.6% from 20.1% last year.
Net earnings of $517.4 million, or $1.65 per diluted share, up from net earnings of $421.5 million, or $1.30 per diluted share, a 27% increase in earnings per share
Deliveries of 12,672 homes – consistent with prior year
New orders of 13,015 homes – down 10%; new orders dollar value of $4.9 billion – down 16%
Revenues of $5.3 billion – down 5%
Revenue by Segment
Forward Guidance
Lennar is re-instituting guidance for fiscal year 2020 and now expects deliveries to be in the range of 50,500 – 51,000 homes with a gross margin on home sales of approximately 21.5% and a net margin on home sales of approximately 13.0%.
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
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