Homebuilder Lennar Corporation (NYSE:LEN) reported Q1 results that surpassed Wall Street's expectations, despite a decline in home prices due to the impact of h

Lennar Beats Q2 Estimates, But Shares Drop 2% on Weak Home Delivery Guidance


blog post cover photo

Image credit: FMP

Homebuilder Lennar Corporation (NYSE:LEN) reported Q1 results that surpassed Wall Street's expectations, despite a decline in home prices due to the impact of higher interest rates on demand. However, shares fell more than 2% in pre-market today as the company forecasted worse-than-expected home deliveries.

For Q1, Lennar posted earnings of $3.45 per share, an increase from $3.01 per share in the same period last year, on revenue of $8.77 billion, up from $8.05 billion. Analysts had predicted earnings of $3.23 per share on revenue of $8.51 billion.

The revenue beat was largely attributed to a 15% increase in home deliveries, which was somewhat offset by a 5% decrease in the average sales price of homes. The company delivered 19,690 homes in the second quarter, up from 17,074 homes a year earlier, while the average sales price decreased to $426,000 from $449,000.

Looking forward to Q3, the company expects to deliver between 20,500 and 21,000 homes, with an average sales price ranging from $420,000 to $425,000.

Other Blogs

Nov 25, 2023 6:39 AM - Parth Sanghvi

DCF Valuation vs. Comparable Companies Analysis: Choosing the Right Valuation Method

Choosing the Right Valuation Method: DCF vs. Comparable Companies Analysis Introduction: Valuation methods play a pivotal role in determining the fair value of a company, aiding investors in making informed investment decisions. Two commonly used methods, DCF Valuation and Comparable Companies A...

blog post title

Dec 23, 2023 2:19 AM - Parth Sanghvi

Understanding the Limitations of DCF Analysis: A Guide to Overcoming Challenges

Introduction: Discounted Cash Flow (DCF) analysis stands as a cornerstone in valuing investments, yet its efficacy is contingent upon various assumptions and methodologies. While a powerful tool, DCF analysis comes with inherent limitations and challenges that investors must acknowledge to make i...

blog post title

Dec 25, 2023 2:28 AM - Parth Sanghvi

Integrating Sustainability into Valuations: Navigating ESG Factors within the Discounted Cash Flow (DCF) Model

Introduction: The investment landscape is undergoing a profound shift with a heightened emphasis on sustainability and responsible investing. In this blog post, we explore the intersection of Environmental, Social, and Governance (ESG) considerations within the Discounted Cash Flow (DCF) model, h...

blog post title


Financial Modeling Prep API provides real time stock price, company financial statements, major index prices, stock historical data, forex real time rate and cryptocurrencies. Financial Modeling Prep stock price API is in real time, the company reports can be found in quarter or annual format, and goes back 30 years in history.
2017-2024 © Financial Modeling Prep