Lennar Corp. (LEN) Tops Q1 EPS by 1c, Revs Beat
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Price: $156.38 +3.51%
Revenue Growth %: -16.4%
Financial Fact:
Basic earnings per share: 0.68
Today's EPS Names:
SFST, VLTO, CLIR, More
Revenue Growth %: -16.4%
Financial Fact:
Basic earnings per share: 0.68
Today's EPS Names:
SFST, VLTO, CLIR, More
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Lennar Corp. (NYSE: LEN) reported Q1 EPS of $0.56, versus the consensus of $0.55. Revenue for the quarter came in at $2.3 billion, versus the consensus of $2.19 billion.
- Net earnings of $130.8 million, or $0.56 per diluted share, compared to net earnings of $144.1 million, or $0.63 per diluted share.
- WCI Communities, Inc. ("WCI") reduced the Company's Q1 2017 net earnings by $0.03 per diluted share, primarily due to one-time transaction expenses
- Q1 2016 included a favorable $0.05 per diluted share impact due to a lower tax rate
- Deliveries of 5,453 homes – up 13%
- New orders of 6,483 homes – up 12%; new orders dollar value of $2.4 billion – up 16%
- Backlog of 9,017 homes – up 18%; backlog dollar value of $3.5 billion – up 24%
- Revenues of $2.3 billion – up 17%
- Lennar Homebuilding operating earnings of $211.3 million, compared to $220.6 million
- Gross margin on home sales of 21.1%, compared to 22.7%
- S,G&A expenses as a % of revenues from home sales improved to 10.3% from 10.8%
- Operating margin on home sales of 10.8%, compared to 11.9%
- Lennar Financial Services operating earnings of $20.7 million, compared to $14.9 million
- Rialto operating earnings (net of noncontrolling interests) of $12.0 million, compared to $1.9 million
- Lennar Multifamily operating earnings of $19.2 million, compared to $12.2 million
- Lennar Homebuilding cash and cash equivalents of $641 million
- Lennar Homebuilding debt to total capital, net of cash and cash equivalents, of 41.6%
- Lennar issued $600 million of 4.125% senior notes due 2022
- Lennar acquired WCI on February 10, 2017 for approximately $643 million in cash
For earnings history and earnings-related data on Lennar Corp. (LEN) click here.
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