Categories AlphaGraphs, Consumer, Earnings

Earnings: A snapshot of Lennar’s (LEN) Q3 2022 financial results

Lennar Corporation (NYSE: LEN) on Wednesday announced third-quarter 2022 financial results, reporting higher revenues and earnings.

Lennar Corporation Q3 2022 earnings infographic

Net income attributable to the company was $1.47 billion or $5.03 per share in the third quarter, compared to $1.41 billion or $4.52 per share last year. Excluding special items, earnings increased to $5.18 per share from $3.27 per share in the prior-year period.

Revenues increased 29% year-over-year to $8.9 billion during the three-month period, and deliveries rose 13% to 17,248 homes. Analysts were looking for faster top-line growth.

Read management/analysts’ comments on quarterly results

“Our cycle time during the quarter was marginally down sequentially, indicating that the well-documented supply chain issues that continue to limit our productivity are beginning to become more manageable and perhaps subside. Our quarterly starts and sales pace were 4.4 homes and 4.0 homes per community, respectively, and we ended the third quarter with approximately 500 completed, unsold homes, demonstrating our focus on inventory management,” said Jon Jaffe, co-chief executive officer of Lennar.

Looking for more insights on the earnings results? Click here to access the full transcripts of the latest earnings conference calls!

Most Popular

After strong Q3, can Salesforce (CRM) keep the momentum going?

Salesforce, Inc. (NYSE: CRM) reported strong third-quarter results this week, triggering a stock rally that marked one of the biggest single-day gains. The impressive performance reflects the continued strong demand

What to look for when J.M. Smucker (SJM) reports Q2 2024 earnings

Shares of the J.M. Smucker Co. (NYSE: SJM) rose over 1% on Friday. The stock has dropped 29% year-to-date. The branded foods company is set to report its earnings results

Ulta Beauty (ULTA) Earnings: 3Q23 Key Numbers

Ulta Beauty, Inc. (NASDAQ: ULTA) reported net sales of $2.5 billion for the third quarter of 2023, up 6.4% year-over-year, helped by increased comparable sales, strong new store performance, and

Add Comment
Viewing Highlight