Lennar reports second quarter 2023 results

Second quarter 2023 highlights  net earnings per diluted share of $3.01 $2.94, excluding mark-to-market gains on technology investments net earnings of $872 million $852 million, excluding mark-to-market gains on technology investments deliveries of 17,074 homes new orders of 17,885 homes with a dollar value of $8.2 billion backlog of 20,214 homes with a dollar value of $9.5 billion total revenues of $8.0 billion homebuilding operating earnings of $1.2 billion gross margin on home sales of 22.5% s,g&a expenses as a % of revenues from home sales of 6.7% net margin on home sales of 15.8% financial services operating earnings of $112 million multifamily operating loss of $8 million lennar other operating loss of $18 million homebuilding cash and cash equivalents of $4.0 billion years supply of owned homesites of 1.7 years and controlled homesites of 70% no outstanding borrowings under the company's $2.6 billion revolving credit facility homebuilding debt to total capital of 13.3% repurchased $158 million aggregate principal of senior notes due in fiscal year 2024 repurchased 2 million shares of lennar common stock for $208 million miami , june 14, 2023 /prnewswire/ -- lennar corporation (nyse: len and len.b), one of the nation's leading homebuilders, today reported results for its second quarter ended may 31, 2023. second quarter net earnings attributable to lennar in 2023 were $872 million, or $3.01 per diluted share, compared to second quarter net earnings attributable to lennar in 2022 of $1.3 billion, or $4.49 per diluted share.
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