LONDON, April 16, 2015 /PRNewswire/ --
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Investor-Edge.com has issued free post-earnings analysis on Lennar Corp. (NYSE: LEN). On March 19, 2015, the company reported its financial results for Q1 FY15 (period ended February 28, 2015). Click on http://get.Investor-Edge.com/pdf/?c=Lennar&d=16-Apr-2015&s=LEN to read our free earnings review on Lennar Corporation (Lennar). During Q1 FY15, the company's total revenue surged 21% Y-o-Y. Further, Lennar's deliveries of homes and new orders of homes grew 19% Y-o-Y and 18% Y-o-Y, respectively, in Q1 FY15. CEO of Lennar, Stuart Miller, stated that despite severe weather conditions which constrained production and sales in parts of the country, the housing market continued its slow and steady recovery. Our free coverage report can be accessed at:
http://get.Investor-Edge.com/pdf/?c=Lennar&d=16-Apr-2015&s=LEN
Earnings Overview
During Q1 FY15, Lennar's total revenues increased to $1.64 billion from $1.36 billion in Q1 FY14. The company's total revenues for Q1 FY15 outperformed Bloomberg analysts' forecast of $1.50 billion. The company's homebuilding segment contributed $1.44 billion to total revenues in Q1 FY15 compared to $1.23 billion in Q1 FY14. Lennar's Financial Services segment's revenues for Q1 FY15 came in at $124.83 million compared to $76.95 million in Q1 FY14. The company's Rialto segment recorded revenues of $41.20 million in Q1 FY15 compared to $46.96 million in Q1 FY14. Moreover, Lennar's Multifamily segment's revenues were $36.46 million in Q1 FY15 compared to $7.80 million in Q1 FY14. Free research on LEN can be downloaded in PDF format at:
http://get.Investor-Edge.com/pdf/?c=Lennar&d=16-Apr-2015&s=LEN
In Q1 FY15, Lennar's deliveries of home increased to 4,302 from 3,609 in Q1 FY14. The new home orders in Q1 FY15 increased to 5,287 from 4,465 in Q1 FY14. In dollar value, new home orders grew 25% Y-o-Y to $1.83 billion. Moreover, the company's backlog of home in Q1 FY15 increased 20% Y-o-Y to 6,817, or 24% Y-o-Y in dollar value to $2.40 billion.
Mr. Miller said that early signals from this year's spring selling season indicate that the housing market is improving, and disappointing single family starts and permits numbers should rebound shortly. The sizable production deficit of the past years continues to drive demand improvement in spite of the constrained mortgage market, he added.
For Q1 FY15, Lennar's Homebuilding segment's operating earnings stood at $207.64 million compared to $162.22 million in Q1 FY14. Financial Services segment's operating earnings for Q1 FY15 increased to $15.53 million from $4.47 million in Q1 FY14. The company's Rialto segment's operating earnings came in at $2.81 million in Q1 FY15, compared to $3.50 million in Q1 FY14. However, Lennar's Multifamily segment reported an operating loss of $5.68 million in Q1 FY15 compared to operating loss of $6.20 million in Q1 FY14. Sign up and read the free analyst's notes on LEN at:
http://get.Investor-Edge.com/pdf/?c=Lennar&d=16-Apr-2015&s=LEN
Lennar's gross margins on home sales for Q1 FY15 were $324.8 million, or 23.1%, compared to $286.1 million, or 25.1%, in Q1 FY14. Further, net earnings attributable to Lennar for Q1 FY15 stood at $114.96 million, or $0.50 per diluted share, compared to $78.12 million, or $0.35 per diluted share, in Q1 FY14. For Q1 FY15, analysts from Bloomberg had expected net earnings attributable to Lennar of $103.86 million, or $0.45 per diluted share.
Mr. Miller concluded that while the company's homebuilding business continues to be the primary driver of its quarterly earnings, Lennar is in an excellent position across all of its platforms and anticipate that its ancillary businesses will further define themselves this year. Visit Investor-Edge and access the latest research on LEN at:
http://get.Investor-Edge.com/pdf/?c=Lennar&d=16-Apr-2015&s=LEN
Stock Performance
On the day of the earnings release, March 19, 2015, Lennar's stock edged 0.14% lower to end the session at $49.65. Since then, the stock has moved both ways with gains outperforming the losses. On the last close, Wednesday, April 15, 2015, the stock finished 0.92% higher at $51.44, after vacillating between $50.95 and $51.77 during the session. A total of 2.34 million shares were traded which was below their three months average volume of 3.64 million shares. Over the last one month and over the previous three months, the company's shares have gained 4.55% and 21.09%, respectively. Further, the stock has surged 32.61% in the past one year. Shares in Lennar closed above their 50-day and 200-day moving averages of $49.71 and $43.72, respectively. Additionally, the stock traded at a PE ratio of 16.94 and has a Relative Strength Index (RSI) of 53.84.
Sneak Peek to Corporate Insider Trading
In the last one month, Lennar has not reported any share transactions by insiders to the U.S. Securities and Exchange Commission (SEC). Complimentary in-depth research on LEN is available at:
http://get.Investor-Edge.com/pdf/?c=Lennar&d=16-Apr-2015&s=LEN
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