LEN Q2 2023 Earnings — Lennar Corporation Revenue & Financial Results | Market Cap Arena

LENLennar Corporation

$26B

Q2 2023 Earnings

Consumer Cyclical Residential Construction

Income Statement

Revenue

$8.0B-3.8% YoY

Gross Profit

$1.8B22.9% margin

Operating Income

$1.2B14.8% margin

Net Income

$872M10.8% margin

EPS (Diluted)

$3.01

QoQ Revenue Growth

+24.1%

Cash Flow

Operating Cash Flow

$660M

Free Cash Flow

$635M

Stock-Based Comp.

$40M

Balance Sheet

Total Assets

$36.9B

Total Liabilities

$11.7B

Stockholders' Equity

$25.0B

Cash & Equivalents

$4.3B

Year-over-Year Comparison

Metric	Current	Year Ago	Change
Revenue	$8.0B	$8.4B	-3.8%
Gross Profit	$1.8B	$2.5B	-25.3%
Operating Income	$1.2B	$1.9B	-35.9%
Net Income	$872M	$1.3B	-34.0%

Revenue Segments

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

$7.7B95%

Lennar Financial Services

$223M3%

Lennar Multifamily

$154M2%

Lennar - Other

$7M0%

Geographic Segments

Homebuilding West

$2.8B36%

Homebuilding East

$2.3B30%

Homebuilding Central

$1.4B18%

Homebuilding Texas

$1.1B15%

Homebuilding Other Regions

$12M0%