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May 31, 2021
Lennar Q2 2021 Earnings Report
Reported second quarter earnings with increased net earnings and revenue, driven by strong performance in homebuilding and financial services.
Key Takeaways
Lennar reported a strong second quarter with net earnings of $831.4 million, or $2.65 per diluted share, a 61% increase compared to the previous year. Revenues increased by 22% to $6.4 billion, driven by strong performance in the homebuilding and financial services segments. The company expects continued strong performance in the third quarter, with deliveries between 15,800 and 16,100 homes and homebuilding gross margins between 27.0% and 27.5%.
Net earnings increased by 61% to $831.4 million, or $2.65 per diluted share.
Revenues increased by 22% to $6.4 billion.
New orders increased by 32% to 17,157 homes.
Homebuilding gross margin reached a record 26.1%.
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
The Company's expected results of its homebuilding and financial services activities for the third quarter of 2021: New Orders 16,000 - 16,300 Deliveries 15,800 - 16,100 Average Sales Price $420,000 - $425,000 Gross Margin % on Home Sales 27.0% - 27.5% S,G&A as a % of Home Sales 7.3% - 7.4% Financial Services Operating Earnings $95 million - $100 million
Positive Outlook
- Deliveries between 15,800 - 16,100
- Average Sales Price $420,000 - $425,000
- Gross Margin % on Home Sales 27.0% - 27.5%
- S,G&A as a % of Home Sales 7.3% - 7.4%
- Financial Services Operating Earnings $95 million - $100 million
Revenue & Expenses
Visualization of income flow from segment revenue to net income