Lennar Stock Price, News & Analysis

Lennar Corporation (NYSE: LEN, LEN.B) reported Q1 2022 net earnings of $503.6 million ($1.69 per share), down from $1 billion in Q1 2021. Excluding mark-to-market losses, earnings rose to $800.2 million ($2.70 per share), up from $642.7 million in the prior year. Revenues increased by 16% to $6.2 billion, driven by higher home deliveries and average sales prices. Homebuilding gross margins improved to 26.9%. The company repurchased 5.3 million shares for $526.3 million and has a $2 billion stock repurchase authorization. Guidance for FY 2022 deliveries is raised to 68,000 homes.

Lennar Corporation (NYSE: LEN and LEN.B) will release its first quarter earnings for the period ending February 28, 2022, after market close on March 16, 2022. A conference call is scheduled for March 17, 2022, at 11:00 a.m. Eastern Time, which will be accessible via the Company's website. Lennar is recognized as a leading homebuilder and provides a range of services including mortgage financing through its Financial Services segment. Founded in 1954, Lennar is focused on building affordable homes for diverse generations.

CPP Investments and LMC have formed a joint venture to develop multifamily communities across major U.S. markets, launching with five seed assets totaling 1,371 apartment homes. The venture allocates $979 million in equity, with CPP Investments holding a 96% stake. This initiative targets high-demand areas where housing supply lags behind renter demand, aiming for long-term returns. LMC, a key player in apartment development, has a significant portfolio and experience, enhancing the JV's potential for success in meeting strong housing needs.

On February 10, 2022, LMC, a subsidiary of Lennar, reported that three of its apartment communities were ranked in the 2021 Elite 1% ORA Power Rankings. The J Turner Research list rated 128,000 multifamily communities, with only 1,564 making the top 1%. The communities recognized include Palmera in Doral, Fla., The Morris in Nashville, Tenn., and The Emerson in Oak Park, Ill., all scoring 94, well above the average score of 65. LMC's president celebrated the achievement as recognition of their commitment to resident experience.

LMC, a subsidiary of Lennar, has opened the Emblem Grayson apartment community in Loganville, GA, featuring 344 rental units designed for middle-income renters. The garden-style community includes modern amenities and offers easy access to Atlanta and surrounding areas. The opening responds to the nationwide shortage of attainable housing, integrating contemporary living with community features. Residents can enjoy a variety of local recreational and dining options while living in a well-connected suburban environment.

Lennar Corporation (NYSE: LEN, LEN.B) announced an increase in its annual dividend from $1.00 to $1.50 per share, resulting in a quarterly dividend of $0.375. This dividend will be paid on February 10, 2022 to shareholders on record by January 27, 2022. Executive Chairman Stuart Miller stated that the decision is part of their strategy to enhance total shareholder returns and reflects confidence in the company’s cash flow generation and operational stability.

LMC, a subsidiary of Lennar, has launched leasing for Citizen, a new high-rise community in Denver's Golden Triangle, featuring 393 luxury apartments and townhomes. Positioned near cultural landmarks, Citizen offers amenities like a rooftop pool, fitness center, and expansive living spaces. Residents can choose from various floor plans, ranging from studio to two-bedroom units, with modern finishes and views of the Rocky Mountains. This development marks LMC's tenth community in the Denver area, following a pipeline of over 39,500 units valued at $14.5 billion.

Lennar reported a solid fourth quarter for 2021, with net earnings increasing 39% to $3.91 per diluted share, totaling $1.2 billion. Revenues rose 24% to $8.4 billion, driven by an 11% rise in home deliveries to 17,819. For the fiscal year, net earnings reached $4.4 billion, an 82% increase, with revenues at $27.1 billion. The backlog also saw impressive growth of 26%, equating to 23,771 homes. The company maintains a strong balance sheet with $2.7 billion in cash and no debt on its credit facility, while expecting to deliver 67,000 homes in 2022.

Lennar Corporation (NYSE: LEN and LEN.B) announced its fourth quarter earnings will be released on December 15, 2021, after market close. A conference call is scheduled for December 16, 2021, at 11:00 a.m. Eastern Time, and will be accessible via Lennar's website. The call will also be archived for 90 days for those unable to participate live. Founded in 1954, Lennar is a leading builder of homes across various segments, including multifamily properties and financial services.