Lennar Corp. (LEN) Tops Q2 EPS by 51c, Offers Guidance
Lennar Corp. (NYSE: LEN) reported Q2 EPS of $1.65, $0.51 better than the analyst estimate of $1.14. Revenue for the quarter came in at $5.3 billion versus the consensus estimate of $5.21 billion.
- Backlog of 17,975 homes – down 6%; backlog dollar value of $7.1 billion – down 8%
2020 Core Earnings Guidance:
Third Quarter | Fourth Quarter | ||||||
New Orders | 12,800 - 13,000 | 12,000 - 12,250 | |||||
Deliveries | 13,200 - 13,400 | 14,300 - 14,600 | |||||
Average Sales Price | $380,000 - $385,000 | $380,000 | |||||
Gross Margin % on Home Sales | 21.5% - 21.75% | 21.75% - 22.0% | |||||
S,G&A as a % of Home Sales | 8.3% - 8.5% | 8.0% | |||||
Financial Services Operating Earnings | Approximately $70 million | Approximately $60 million |
For earnings history and earnings-related data on Lennar Corp. (LEN) click here.