Wolfe Research Starts Lennar (LEN) at Peerperform

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Lennar Corp. (LEN) Tops Q1 EPS by $1.49, Revenues Beat

March 16, 2021 4:33 PM EDT

Lennar Corp. (NYSE: LEN) reported Q1 EPS of $3.20, $1.49 better than the analyst estimate of $1.71. Revenue for the quarter came in at $5.33 billion versus the consensus estimate of $5.13 billion.

Net earnings of $1.0 billion, or $3.20 per diluted share, compared to net earnings of $398.5 million, or $1.27 per diluted share both up over 150%Excluding the pretax gain of $469.7 million ($358.7 million after tax) related to the mark to market of a strategic investment that went public, EPS would have been $2.04 per diluted shareDeliveries of 12,314 homes up 19%New orders of 15,570 homes up 26%; new orders dollar value of... More