A Comprehensive Look at Lennar Corporation's Performance in Q1 2024
Friday, 15 March 2024, 15:56
Lennar Corporation (LEN) Performance Overview
Shares of Lennar Corporation (NYSE: LEN) rose over 2% on Friday. The stock has gained 51% over the past 12 months.
Quarterly Numbers
- Total revenues increased 13% year-over-year to $7.3 billion in Q1 2024.
- Revenues from home sales grew 13% to $6.9 billion, helped by an increase in home deliveries.
- Net earnings increased 21% to $719 million while EPS increased 25% to $2.57 in the quarter.
Business Performance
- The macroeconomic environment remains relatively strong for new homebuilders.
- Lennar focuses on aligning production and sales pace, adjusting prices, and offering incentives.
- Growth of 28% in new orders and 23% in deliveries during Q1.
Outlook
- Expected new orders, deliveries, average sales price, and EPS for the second quarter of 2024.
- Lennar's strategy of keeping pace alignment and affordability.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.