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Lennar (LEN) Q3 Earnings: How Key Metrics Compare to Wall Street Estimates
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For the quarter ended August 2024, Lennar (LEN - Free Report) reported revenue of $9.42 billion, up 7.9% over the same period last year. EPS came in at $3.90, compared to $3.91 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $9.29 billion, representing a surprise of +1.35%. The company delivered an EPS surprise of +7.73%, with the consensus EPS estimate being $3.62.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Lennar performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Deliveries - Average sales price - Total: $422 versus $424.14 estimated by four analysts on average.
Deliveries - Homes: 21,516 versus the three-analyst average estimate of 20,745.
Active Communities - Total: 1,283 versus 1,285 estimated by three analysts on average.
Backlog - Dollar Value - Total: $7.75 billion versus $8.32 billion estimated by three analysts on average.
Backlog - Average sales price - Total: $457 compared to the $465.74 average estimate based on three analysts.
Revenue- Financial Services: $273.27 million versus the six-analyst average estimate of $288.24 million. The reported number represents a year-over-year change of +2.7%.
Revenue- Homebuilding- Sales of homes: $9.02 billion versus the six-analyst average estimate of $8.73 billion. The reported number represents a year-over-year change of +8.8%.
Revenue- Homebuilding- Sales of land: $19.47 million versus the four-analyst average estimate of $19.37 million. The reported number represents a year-over-year change of -4.7%.
Revenue- Multifamily: $93.44 million versus $113.76 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a -32% change.
Revenue- Homebuilding- Other homebuilding: $8.60 million compared to the $9.32 million average estimate based on two analysts. The reported number represents a change of -30.2% year over year.
Revenue- Homebuilding: $9.05 billion versus $8.80 billion estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +8.7% change.
Revenue- Lennar Other: $3.64 million compared to the $8.65 million average estimate based on two analysts. The reported number represents a change of -50.8% year over year.
Shares of Lennar have returned +5.2% over the past month versus the Zacks S&P 500 composite's +1.3% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.
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For the quarter ended August 2024, Lennar (LEN - Free Report) reported revenue of $9.42 billion, up 7.9% over the same period last year. EPS came in at $3.90, compared to $3.91 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $9.29 billion, representing a surprise of +1.35%. The company delivered an EPS surprise of +7.73%, with the consensus EPS estimate being $3.62.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Lennar performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Deliveries - Average sales price - Total: $422 versus $424.14 estimated by four analysts on average.
- Deliveries - Homes: 21,516 versus the three-analyst average estimate of 20,745.
- Active Communities - Total: 1,283 versus 1,285 estimated by three analysts on average.
- Backlog - Dollar Value - Total: $7.75 billion versus $8.32 billion estimated by three analysts on average.
- Backlog - Average sales price - Total: $457 compared to the $465.74 average estimate based on three analysts.
- Revenue- Financial Services: $273.27 million versus the six-analyst average estimate of $288.24 million. The reported number represents a year-over-year change of +2.7%.
- Revenue- Homebuilding- Sales of homes: $9.02 billion versus the six-analyst average estimate of $8.73 billion. The reported number represents a year-over-year change of +8.8%.
- Revenue- Homebuilding- Sales of land: $19.47 million versus the four-analyst average estimate of $19.37 million. The reported number represents a year-over-year change of -4.7%.
- Revenue- Multifamily: $93.44 million versus $113.76 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a -32% change.
- Revenue- Homebuilding- Other homebuilding: $8.60 million compared to the $9.32 million average estimate based on two analysts. The reported number represents a change of -30.2% year over year.
- Revenue- Homebuilding: $9.05 billion versus $8.80 billion estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +8.7% change.
- Revenue- Lennar Other: $3.64 million compared to the $8.65 million average estimate based on two analysts. The reported number represents a change of -50.8% year over year.
View all Key Company Metrics for Lennar here>>>Shares of Lennar have returned +5.2% over the past month versus the Zacks S&P 500 composite's +1.3% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.