Loading...
•
Nov 30, 2021
Lennar Q4 2021 Earnings Report
Reported record Q4 2021 earnings driven by strength in the housing market and supply shortage.
Key Takeaways
Lennar reported record fourth-quarter earnings of $1.2 billion, or $3.91 per diluted share, compared to $882.8 million, or $2.82 per diluted share, in the fourth quarter of last year. Excluding mark to market losses, earnings were $1.3 billion, or $4.36 per diluted share. Revenues increased 24% to $8.4 billion, and home deliveries increased 11% to 17,819 homes.
Net earnings per diluted share increased 39% to $3.91 (increased 55% to $4.36, excluding mark to market losses on strategic technology investments).
Revenues increased 24% to $8.4 billion.
Homebuilding gross margin improved 300 bps to 28.0%.
Homebuilding S,G&A expenses as a % of revenues improved 150 bps to 6.0%.
Revenue by Segment
Forward Guidance
The Company's expected results of its homebuilding and financial services activities for the first quarter and fiscal year 2022:
Positive Outlook
- Deliver approximately 67,000 homes for the year.
- Gross margin of 27.0% - 27.5% for the year.
- Deliver approximately 12,500 homes in the first quarter.
- Gross margin of approximately 26.75% in the first quarter.
- New orders between 14,800 - 15,100 in Q1 2022
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...