For the quarter ended November 2023, Lennar (LEN) reported revenue of $10.97 billion, up 7.8% over the same period last year. EPS came in at $5.17, compared to $5.02 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $10.34 billion, representing a surprise of +6.09%. The company delivered an EPS surprise of +11.42%, with the consensus EPS estimate being $4.64.
While investors closely watch year-over-year changes in headline numbers — revenue and earnings — and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company’s underlying performance.
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:
- Active Communities – Total: 1,260 compared to the 1,294 average estimate based on five analysts.
- Deliveries – Average sales price – Total: $441 compared to the $447.29 average estimate based on five analysts.
- New orders – Homes: 17,366 versus the four-analyst average estimate of 16,883.
- Deliveries – Homes: 23,795 versus 22,066 estimated by four analysts on average.
- Backlog – Homes: 14,892 compared to the 16,138 average estimate based on four analysts.
- Revenue- Financial Services: $304.69 million versus $272.87 million estimated by seven analysts on average. Compared to the year-ago quarter, this number represents a +32.1% change.
- Revenue- Homebuilding- Sales of homes: $10.44 billion compared to the $9.88 billion average estimate based on six analysts. The reported number represents a change of +8.2% year over year.
- Revenue- Multifamily: $140.82 million compared to the $163.94 million average estimate based on five analysts. The reported number represents a change of -21.4% year over year.
- Revenue- Homebuilding- Sales of land: $63.50 million versus the four-analyst average estimate of $23.52 million. The reported number represents a year-over-year change of -19.8%.
- Revenue- Homebuilding: $10.52 billion versus the three-analyst average estimate of $9.91 billion. The reported number represents a year-over-year change of +8%.
- Revenue- Lennar Other: $6.62 million versus the three-analyst average estimate of $12.30 million. The reported number represents a year-over-year change of -71%.
- Revenue- Homebuilding- Other homebuilding: $9.70 million compared to the $12.24 million average estimate based on two analysts.
View all Key Company Metrics for Lennar here>>>
Shares of Lennar have returned +14.4% over the past month versus the Zacks S&P 500 composite’s +6.9% 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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