Lennar said net earnings attributable to the company in fiscal 2024 were $3.9 billion, or $14.31 per diluted and basic share, and in fiscal 2023 were $3.9 billion, or $13.73 per share.

1. 01

   Lennar said net earnings attributable to the company in fiscal 2024 were $3.9 billion, or $14.31 per diluted and basic share, and in fiscal 2023 were $3.9 billion, or $13.73 per share.

2. 02

   Lennar said revenues from home sales in fiscal 2024 were $33.8 billion, up 4%, with new home deliveries of 80,210 homes, an average sales price of $423,000, and gross margins on home sales of 22.3%, compared to 23.3% in fiscal 2023.

3. 03

   Lennar said in connection with the Millrose Properties spin-off it expects to transfer approximately $5 billion to $6 billion of undeveloped and partially developed land and approximately $1 billion in cash. The company also said it is pursuing the acquisition of Rausch Coleman Homes.

4. 04

   Lennar said it anticipates 17,000 to 17,500 closings in Q1 of fiscal 2025 with gross margins of 19% to 19.25%, and expects to deliver 86,000 to 88,000 homes in fiscal 2025, including the impact of the Rausch Coleman acquisition.

Key figures

Fiscal year ended November 30, 2024

Revenue

$35.4B

Net income

$3.9B

EPS

$14.31

Operating cash flow

$2.4B

Analysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

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