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.