NYSE$LEN
Lennar Corp · Q2 2021 earnings
Q2 2021 earnings · · Investor relations
Briefing
Reported second quarter earnings with increased net earnings and revenue, driven by strong performance in homebuilding and financial services.
Lennar reported a strong second quarter with net earnings of $831.4 million, or $2.65 per diluted share, a 61% increase compared to the previous year. Revenues increased by 22% to $6.4 billion, driven by strong performance in the homebuilding and financial services segments. The company expects continued strong performance in the third quarter, with deliveries between 15,800 and 16,100 homes and homebuilding gross margins between 27.0% and 27.5%.
- Net earnings increased by 61% to $831.4 million, or $2.65 per diluted share.
- Revenues increased by 22% to $6.4 billion.
- New orders increased by 32% to 17,157 homes.
- Homebuilding gross margin reached a record 26.1%.
Headline financials
Revenue & EPS history
Lennar · Revenue · Quarterly
$6.43B
Revenue by segment
Lennar · $6.4B total across 4 segments · Q2 2021
- Homebuilding$6B+22.4%93.7%
- Financial Services$219M+11.5%3.4%
- Multifamily$177M+44.1%2.8%
- Lennar Other$5.98M-67.7%0.1%
Forward guidance
The Company's expected results of its homebuilding and financial services activities for the third quarter of 2021: New Orders 16,000 - 16,300 Deliveries 15,800 - 16,100 Average Sales Price $420,000 - $425,000 Gross Margin % on Home Sales 27.0% - 27.5% S,G&A as a % of Home Sales 7.3% - 7.4% Financial Services Operating Earnings $95 million - $100 million
Tailwinds
- Deliveries between 15,800 - 16,100
- Average Sales Price $420,000 - $425,000
- Gross Margin % on Home Sales 27.0% - 27.5%
- S,G&A as a % of Home Sales 7.3% - 7.4%
- Financial Services Operating Earnings $95 million - $100 million
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 19 quarterly earnings reports · overlaid with Q2 2021
+1.0%
Avg return
Earnings day
+0.8%
Avg return
5 days after
+3.3%
Avg return
30 days after
57%
39 / 69 earnings
Positive
+12.1%
Q1 2021
Best reaction
-8.6%
Q4 2024
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q2 2026 | -3.4% | — | — | |
| Q4 2025 | -1.1% | -9.0% | +0.9% | |
| Q3 2025 | -4.3% | -5.4% | -5.3% | |
| Q2 2025 | +1.6% | +1.6% | +22.5% | |
| Q1 2025 | -4.0% | -1.8% | -12.8% | |
| Q1 2026 | -2.2% | -0.4% | -11.5% | |
| Q4 2024 | -8.6% | -8.9% | -6.6% | |
| Q3 2024 | -3.3% | -2.2% | +0.3% | |
| Q2 2024 | -4.1% | -2.3% | +7.3% | |
| Q1 2024 | -7.9% | -5.6% | -3.7% | |
| Q4 2023 | +2.8% | +2.4% | +4.5% | |
| Q3 2023 | -1.0% | +1.1% | -5.8% | |
| Q2 2023 | +3.3% | +3.5% | +14.9% | |
| Q1 2023 | +1.2% | +4.6% | +4.9% | |
| Q4 2022 | +4.1% | -0.5% | +9.1% | |
| Q3 2022 | +0.7% | -4.1% | -4.5% | |
| Q2 2022 | +4.7% | +11.3% | +27.0% | |
| Q1 2022 | +3.5% | +2.3% | -11.0% | |
| Q4 2021 | -2.4% | -4.8% | -2.7% | |
| Q3 2021 | -3.5% | -1.3% | +0.9% | |
| Q2 2021 | +2.3% | +5.5% | +3.7% | |
| Q1 2021 | +12.1% | +5.6% | +14.3% | |
| Q4 2020 | +8.2% | +7.6% | +3.7% | |
| Q3 2020 | -2.0% | +2.2% | +7.5% | |
| Q2 2020 | +7.9% | +1.6% | +15.3% | |
| Q1 2020 | +10.2% | +15.1% | +38.8% | |
| Q4 2019 | +1.0% | +6.0% | +20.7% | |
| Q3 2019 | +5.0% | +6.5% | +9.3% | |
| Q2 2019 | -7.5% | -5.7% | -7.1% | |
| Q1 2019 | +0.1% | -1.6% | +4.7% | |
| Q4 2018 | +5.3% | +5.4% | +7.3% | |
| Q3 2018 | -4.4% | -2.8% | -7.5% | |
| Q2 2018 | +4.1% | +6.7% | +6.7% | |
| Q1 2018 | +12.1% | +6.5% | -4.6% | |
| Q4 2017 | +4.3% | +3.9% | -12.0% | |
| Q3 2017 | +6.8% | +5.8% | +4.3% | |
| Q2 2017 | +1.0% | -1.2% | +1.0% | |
| Q1 2017 | -3.7% | -3.1% | -1.5% | |
| Q4 2016 | -1.0% | -2.0% | +2.0% | |
| Q3 2016 | -3.6% | -4.4% | -8.2% | |
| Q2 2016 | -1.5% | -4.1% | +4.7% | |
| Q1 2016 | +2.4% | — | — | |
| Q4 2015 | -1.3% | — | — | |
| Q3 2015 | -4.4% | — | — | |
| Q2 2015 | +5.0% | — | — | |
| Q1 2015 | +1.1% | — | — | |
| Q4 2014 | -5.6% | — | — | |
| Q3 2014 | +5.8% | — | — | |
| Q2 2014 | +0.2% | — | — | |
| Q1 2014 | -4.3% | — | — | |
| Q4 2013 | +5.2% | — | — | |
| Q3 2013 | +5.4% | — | — | |
| Q2 2013 | +2.9% | — | — | |
| Q1 2013 | +2.3% | — | — | |
| Q4 2012 | -1.2% | — | — | |
| Q3 2012 | -3.3% | — | — | |
| Q2 2012 | +7.2% | — | — | |
| Q1 2012 | +4.8% | — | — | |
| Q2 2011 | -3.5% | — | — | |
| Q4 2010 | -3.5% | — | — | |
| Q4 2011 | -3.5% | — | — | |
| Q3 2011 | +2.0% | — | — | |
| Q1 2010 | -0.3% | — | — | |
| Q1 2011 | -0.3% | — | — | |
| Q4 2008 | +1.4% | — | — | |
| Q2 2010 | +1.4% | — | — | |
| Q4 2009 | +6.0% | — | — | |
| Q3 2009 | +6.0% | — | — | |
| Q3 2010 | +6.0% | — | — |
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