LEN Q1 2023 Earnings — Lennar Corporation Revenue & Financial Results | Market Cap Arena

LENLennar Corporation

$26B

Q1 2023 Earnings

Consumer Cyclical Residential Construction

Income Statement

Revenue

$6.5B+4.4% YoY

Gross Profit

$1.4B21.5% margin

Operating Income

$804M12.4% margin

Net Income

$597M9.2% margin

EPS (Diluted)

$2.06

QoQ Revenue Growth

-36.6%

Cash Flow

Operating Cash Flow

$978M

Free Cash Flow

$973M

Stock-Based Comp.

$87M

Balance Sheet

Total Assets

$36.6B

Total Liabilities

$12.0B

Stockholders' Equity

$24.4B

Cash & Equivalents

$4.3B

Year-over-Year Comparison

Metric	Current	Year Ago	Change
Revenue	$6.5B	$6.2B	+4.4%
Gross Profit	$1.4B	$1.6B	-14.9%
Operating Income	$804M	$1.1B	-25.8%
Net Income	$597M	$504M	+18.5%

Revenue Segments

Lennar Homebuilding East, Central, West, Houston, and Other

$6.2B95%

Lennar Financial Services

$183M3%

Lennar Multifamily

$149M2%

Lennar - Other

$8M0%

Geographic Segments

Homebuilding West

$2.2B36%

Homebuilding East

$1.9B30%

Homebuilding Central

$1.0B17%

Homebuilding Texas

$1.0B17%

Homebuilding Other Regions

$5M0%