NYSE$LEN
Lennar Corp · Q2 2022 earnings
Q2 2022 earnings · · Investor relations
Briefing
Lennar reported second quarter earnings, demonstrating strength and excellent performance.
Lennar Corporation reported a strong second quarter with net earnings of $1.3 billion, or $4.49 per diluted share, compared to $831.4 million, or $2.65 per diluted share for the second quarter last year. Total revenues increased 30% to $8.4 billion. The company's homebuilding gross margin was 29.5% and S,G&A was 6.1%, leading to a 23.4% net margin.
- Net earnings per diluted share increased 69% to $4.49.
- Total revenues increased 30% to $8.4 billion.
- Homebuilding gross margin improved 340 basis points to 29.5%.
- Homebuilding S,G&A expenses as a % of revenues from home sales improved 150 bps to 6.1%.
Headline financials
Revenue & EPS history
Lennar · Revenue · Quarterly
$8.36B
Revenue by segment
Lennar · $8.36B total across 4 segments · Q2 2022
- Homebuilding$7.98B+33.0%95.4%
- Financial Services$200M-8.5%2.4%
- Multifamily$176M-0.8%2.1%
- Lennar Other$4.53M-24.3%0.1%
Forward guidance
For the third quarter, Lennar expects deliveries between 17,000 to 18,500 homes and gross margins between 28.5% – 29.5%. For the full year, the company will leave delivery expectations at approximately 68,000 homes.
Tailwinds
- Deliveries between 17,000 to 18,500 homes
- Gross margins between 28.5% – 29.5%
- Average Sales Price Slightly higher than Q2 2022
- S,G&A as a % of Home Sales 6.0% - 6.5%
- Financial Services Operating Earnings $70 million - $75 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 2022
+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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