Lennar (LEN) reported $8.05 billion in revenue for the quarter ended May 2023, representing a year-over-year decline of 3.8%. EPS of $2.94 for the same period compares to $4.69 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $7.28 billion, representing a surprise of +10.48%. The company delivered an EPS surprise of +26.72%, with the consensus EPS estimate being $2.32.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company’s financial health.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock’s price performance more accurately.
Here is how Lennar performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- New orders – Homes: 17885 compared to the 16653.12 average estimate based on six analysts.
- Deliveries – Homes: 17074 versus the five-analyst average estimate of 15619.31.
- Active Communities – Total: 1263 compared to the 1237.89 average estimate based on five analysts.
- Backlog – Homes: 20214 compared to the 20415.24 average estimate based on five analysts.
- Deliveries – Average sales price – Total: $449 versus the five-analyst average estimate of $441.91.
- Backlog – Average sales price – Total: $472 versus the three-analyst average estimate of $471.36.
- Revenue- Homebuilding- Sales of homes: $7.64 billion compared to the $6.76 billion average estimate based on six analysts. The reported number represents a change of -4.1% year over year.
- Revenue- Financial Services: $222.98 million versus $208.35 million estimated by six analysts on average. Compared to the year-ago quarter, this number represents a +11.4% change.
- Revenue- Homebuilding- Sales of land: $16.31 million versus the five-analyst average estimate of $24.54 million. The reported number represents a year-over-year change of +116.8%.
- Revenue- Homebuilding: $7.67 billion versus the five-analyst average estimate of $6.77 billion. The reported number represents a year-over-year change of -3.9%.
- Revenue- Multifamily: $151.74 million versus $151.88 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a -13.8% change.
- Revenue- Lennar Other: $0.41 million versus the two-analyst average estimate of $8.76 million.
Shares of Lennar have returned +1.8% over the past month versus the Zacks S&P 500 composite’s +6.1% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.
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