LEN Q1 2024 Earnings — Lennar Corporation Revenue & Financial Results | Market Cap Arena

LENLennar Corporation

$26B

Q1 2024 Earnings

Consumer Cyclical Residential Construction

Income Statement

Revenue

$7.3B+12.5% YoY

Gross Profit

$1.6B22.2% margin

Operating Income

$876M12.0% margin

Net Income

$719M9.9% margin

EPS (Diluted)

$2.57

QoQ Revenue Growth

-34.0%

Cash Flow

Operating Cash Flow

$368M

Free Cash Flow

$295M

Stock-Based Comp.

$88M

Balance Sheet

Total Assets

$39.0B

Total Liabilities

$12.2B

Stockholders' Equity

$26.6B

Cash & Equivalents

$5.2B

Year-over-Year Comparison

Metric	Current	Year Ago	Change
Revenue	$7.3B	$6.5B	+12.5%
Gross Profit	$1.6B	$1.4B	+16.1%
Operating Income	$876M	$804M	+9.0%
Net Income	$719M	$597M	+20.6%

Revenue Segments

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

$6.9B95%

Lennar Financial Services

$250M3%

Lennar Multifamily

$133M2%

Lennar - Other

$9M0%

Geographic Segments

Homebuilding West

$2.5B37%

Homebuilding East

$1.9B28%

Homebuilding Central

$1.4B20%

Homebuilding Texas

$1.1B15%

Homebuilding Other Regions

$10M0%