Lennar Q4 2019 Earnings Report
Key Takeaways
Lennar's Q4 2019 results showed strong growth in new orders and deliveries, leading to a net earnings of $674.3 million, or $2.13 per diluted share. The company's focus on operational efficiency and land management contributed to improved financial performance. The financial services segment also achieved record earnings.
Net earnings were $674.3 million, or $2.13 per diluted share.
Revenues reached $7.0 billion, up 8% year-over-year.
New orders increased by 23% to 13,089 homes.
Homebuilding gross margin was 21.5%.
Lennar
Lennar
Lennar Revenue by Segment
Forward Guidance
Lennar provided guidance for fiscal year 2020, expecting deliveries to be in the range of 54,000 - 55,000 homes and homebuilding gross margin percentage in the range of 20.5% - 21.0%.
Positive Outlook
- Deliveries are expected to be in the range of 54,000 - 55,000 homes.
- Homebuilding gross margin percentage to be in the range of 20.5% - 21.0%.
- Cash flows are expected to continue to accelerate.
- Opportunistically deploy excess cash flow to repurchase additional debt.
- Return capital to shareholders.
Revenue & Expenses
Visualization of income flow from segment revenue to net income