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Nov 30, 2019
Lennar Q4 2019 Earnings Report
Lennar reported Q4 2019 earnings, with EPS of $2.13 and revenue of $7.0 billion, driven by increased home deliveries and new orders.
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
Revenue by Segment
Homebuilding Revenue
CapyFin.comFinancial Services Revenue
CapyFin.comMultifamily Revenue
CapyFin.comLennar Other Revenue
CapyFin.comSales of Homes Revenue
CapyFin.comTotal Sales of Land Revenue
CapyFin.com 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