- FQ4 net income of $281.6M or $1.21 per share vs. $245.3M and $1.07 a year ago.
- Home deliveries of 7,657, up 10%. New orders of 6,053, up 10% in units, up 20% in value.
- Backlogs of 6,646 homes, up 14% in units, up 25% in value.
- Homebuilding operating earnings of $437.5M up 17%.
- Gross margin on home sales of 24.6% down 100 basis points Y/Y, up 50 bps from FQ3.
- Lennar Financial Services operating earnings of $33.8M vs. $30.2M.
- Lennar Multifamily operating earnings of $10.2M vs. a loss of $6.1M.
- Rialto operating earnings of $7.6M vs. $38.2M a year ago (numbers aren't comparable).
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Conference call at 11 ET
- Previously: Lennar beats by $0.09 (Dec. 18)
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LEN flat premarket