Lennar Corp. (NYSE: LEN) reported Q4 EPS of $1.29, $0.19 worse than the analyst estimate of $1.48. Revenue for the quarter came in at $3.8 billion versus the consensus estimate of $3.57 billion.

2017 Fourth Quarter

• Net earnings of $309.6 million, or $1.29 per diluted share, compared to $313.5 million, or $1.31 per diluted share, as adjusted for Class B stock dividend
• Strategic, one-time transaction projected in Q4 2017 shifted into Q1 2018, thereby benefiting from a lower federal tax rate
• Deliveries of 8,633 homes – up 5%
• New orders of 7,357 homes – up 12%; new orders dollar value of $2.8 billion – up 18%
• Backlog of 8,935 homes – up 17%; backlog dollar value of $3.6 billion – up 23%
• Revenues of $3.8 billion – up 12%
• Lennar Homebuilding operating earnings of $478.8 million, compared to $436.7 million
• Gross margin on home sales of 22.4%, compared to 23.3%
• S,G&A expenses as a % of revenues from home sales improved to 8.4%, compared to 8.7%
• Operating margin on home sales of 14.0%, compared to 14.6%
• Lennar Financial Services operating earnings of $42.1 million, compared to $51.4 million
• Rialto operating earnings (net of noncontrolling interests) of $2.2 million, compared to $8.0 million
• Lennar Multifamily operating earnings of $38.6 million, compared to $41.4 million
• Lennar Homebuilding cash and cash equivalents of $2.3 billion
• Lennar issued $300 million of 2.95% senior notes due 2020 and $900 million of 4.750% senior notes due 2027 primarily to fund cash portion of proposed CalAtlantic merger
• No outstanding borrowings under the $2.0 billion credit facility
• Lennar Homebuilding debt to total capital, net of cash and cash equivalents, of 34.4%

For earnings history and earnings-related data on Lennar Corp. (LEN) click here.