Lennar reports first quarter eps of $3.20

Miami, march 16, 2021 /prnewswire/ -- net earnings of $1.0 billion, or $3.20 per diluted share, compared to net earnings of $398.5 million, or $1.27 per diluted share – both up over 150% excluding the pretax gain of $469.7 million ($358.7 million after tax) related to the mark to market of a strategic investment that went public, eps would have been $2.04 per diluted share deliveries of 12,314 homes – up 19% new orders of 15,570 homes – up 26%; new orders dollar value of $6.5 billion – up 31% backlog of 22,077 homes – up 25%; backlog dollar value of $9.5 billion – up 32% revenues of $5.3 billion – up 18% homebuilding net margins of $824.8 million, compared to $474.3 million gross margin on home sales of 25.0%, compared to 20.5% s,g&a expenses as a % of revenues from home sales of 8.4%, compared to 9.2% net margin on home sales of 16.6%, compared to 11.4% financial services operating earnings of $146.2 million, compared to $58.2 million multifamily operating loss of $0.9 million, compared to operating earnings of $1.8 million lennar other operating earnings  of $471.3 million (including $469.7 million gain related to a strategic investment that went public), compared to $0.9 million homebuilding cash and cash equivalents of $2.4 billion no borrowings under the company's $2.5 billion revolving credit facility homebuilding debt to total capital of 24.0%, compared to 33.6% controlled homesites as a percentage of total owned and controlled homesites increased to 45%, compared to 31% lennar corporation (nyse: len and len.b), one of the nation's leading homebuilders, today reported results for its first quarter ended february 28, 2021. first quarter net earnings attributable to lennar in 2021 were $1.0 billion, or $3.20 per diluted share, compared to first quarter net earnings attributable to lennar in 2020 of $398.5 million, or $1.27 per diluted share.
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