$LEN (Lennar Corporation)

$LEN {{ '2015-09-21T16:45:13+0000' | timeago}} • Webcast

Land market is constrained with capital. Capital is a long term deficit $LEN is going to see limiting the expansion or normalization of production. On an annual basis, $LEN has seen a 14% kind of inflation factor for land. In most land markets $LEN is seeing prices accelerate because of constrained capital.

$LEN {{ '2017-06-20T16:07:38+0000' | timeago}} • Webcast

Regarding the GM ramp in 2H17, $LEN said the ramp will be driven by the amount of field expenses that are absorbed, given the increased volume closings. Added to this, $LEN added that it enters the year with a bit lower sales pace and is able to push pricing throughout the year, which is a typical seasonal pattern.

$LEN {{ '2017-06-20T15:46:34+0000' | timeago}} • Webcast

$LEN said it is on track with its goal of 22-22.5% GM for FY17. Additionally for 2Q17, GM percentages were the highest in the company's Homebuilding East segment. $LEN opened 86 new communities during 2Q17 and closed 102 communities to end the quarter with 736 net active communities.

$LEN {{ '2017-06-20T15:26:41+0000' | timeago}} • Webcast

On a segment basis, $LEN believes its for-sale core homebuilding operations continue to be well positioned for the remaining of 2017. In 2Q17, new orders were up about 12% YoY, driven by a higher sales pace of 4 homes per community per month compared to 3.9 a year ago, along with a community count growth of about 6%.

$LEN {{ '2017-06-20T15:24:20+0000' | timeago}} • Webcast

$LEN believes the business environment is positive and the governmental pro business improvement will result in job security and some tax reliefs. Looking forward into 2H17, the company expects each of its business segment to continue to grow.

$LEN {{ '2017-06-20T12:12:36+0000' | timeago}} • Infographic

$LEN Lennar Corp. Earnings AlphaGraph: Q2 2017 Highlights

$LEN {{ '2017-06-20T10:52:51+0000' | timeago}} • Announcement

$LEN's revenue from home sales for 2Q17 increased 18% to $2.9Bil from $2.4Bil in the previous year quarter. This was primarily due to a 15% growth in the number of home deliveries, excluding unconsolidated entities, and a 3% rise in the average sales price of homes delivered.

$LEN {{ '2017-06-20T10:50:26+0000' | timeago}} • Announcement

Homebuilder $LEN reported a decline in 2Q17 earnings due to higher costs and expenses. Net income fell to $213.6MM or $0.91 per share from $218.5MM or $0.95 per share last year. Revenue grew to $3.26Bil from $2.75Bil. The company is seeing more of a reversion to normal in housing market than slow and steady recovery pace.

$LEN {{ '2017-03-21T15:59:08+0000' | timeago}} • Webcast

$LEN is increasing its delivery goal to between 29,500-30,000 homes for 2017. On the SG&A line, the company expects continuing improvement in the SG&A line from operating leverage and investments in technology, reducing SG&A to between 9.1-9.3% for FY17.

$LEN {{ '2017-03-21T15:49:04+0000' | timeago}} • Webcast

$LEN's GM percentages were highest in the Homebuilding East segment in the quarter. Additionally, the company's completed unsold homes at the end of 1Q17 was at the normal range of 1-2 per community, totaling 1,342 homes.

$LEN {{ '2017-03-21T11:06:37+0000' | timeago}} • Announcement

In 1Q17, $LEN’s operating earnings for all three segments increased substantially. Operating earnings for the Financial Services segment were $20.7MM, up 38%, Rialto segment operating earnings were $12MM, up 530%, while for Multifamily segment operating earnings increased 57% to $19.2MM.

$LEN {{ '2017-03-21T10:53:37+0000' | timeago}} • Announcement

$LEN’s revenues from home sales increased 13% in 1Q17 to $2Bil, helped by 13% increase in New home deliveries. SG&A expenses were $204MM, which included approx $10MM of one-time transaction expenses related to the WCI acquisition.

$LEN {{ '2017-03-21T10:42:16+0000' | timeago}} • Announcement

Homebuilder $LEN posted 17% spike in 1Q17 revenue to $2.3Bil, helped by growth in all segments. However, rising expenses and an operating loss in the Rialto segment cut down its earnings. Net earnings attributable to the company declined 9.29% to $130.7MM, or $0.56 per share from $144.1MM, or $0.63 per share in 1Q16.

$LEN {{ '2017-02-10T15:22:45+0000' | timeago}} • Announcement

$LEN completed the acquisition of $WCIC for approx. $643MM or $23.50 per share. The purchase includes a portfolio of owned and controlled land totaling approx. 13,700 homesites as well as $WCIC's real estate brokerage and title services businesses. $LEN elected to pay the purchase price in all cash as opposed to using 50% stock.

$CTB {{ '2017-02-08T15:08:43+0000' | timeago}} • Announcement

S&P Dow Jones Indices will make the changes to the S&P MidCap 400 and S&P SmallCap 600 on Feb. 10. $CTB will replace $SCOR in the S&P MidCap 400 due to the delisting of $SCOR from Nasdaq. $HT will replace $WCIC in the S&P SmallCap 600 due to $LEN acquiring $WCIC.

$LEN {{ '2017-01-25T11:48:25+0000' | timeago}} • Announcement

$LEN's BoD elected Donna Shalala to serve as a board member, effective Jan. 23, 2017. Shalala served as a director of $LEN from 2001 to April 2012. Shalala currently serves as Trustee Professor of Political Science at the University of Miami and as President of the Clinton Foundation.

$LEN {{ '2017-01-12T22:58:10+0000' | timeago}} • Announcement

$LEN announced that its Board of Directors has declared a quarterly cash dividend of $0.04 per share for both Class A and Class B common stock payable on February 10, 2017 to holders of record on January 27, 2017.

$LEN {{ '2017-01-06T12:03:43+0000' | timeago}} • Announcement

$LEN said that it has priced an underwritten public offering of $600MM of 4.125% senior notes due 2022. The sale of the notes is expected to close on Jan. 20, 2017, subject to customary closing conditions. The Notes will have an interest rate of 4.125% per annum and will pay interest semi-annually on Jan. 15 and July 15, commencing July 15, 2017.

$LEN {{ '2016-12-19T17:27:23+0000' | timeago}} • Webcast

$LEN commented that the company's first time business as a percent of closings in 4Q16 was running in the high 30s. The company also said that one can expect that percentage to go up over the next one or two years to about 40%.

$LEN {{ '2016-12-19T16:54:16+0000' | timeago}} • Webcast

For FY17, $LEN said it expects to deliver between 28,500 and 29,000 deliveries. The company also added that it expects backlog conversion ratio to be about 70% for 1Q17 and between 80-85% for second and third quarters of 2017 and more than 90% for 4Q16. Operating margin is expected to be about 13% for FY17, while GM is expected between 22-22.5%.

$LEN {{ '2016-12-19T16:45:33+0000' | timeago}} • Webcast

$LEN's GM percentages were highest in the East region in 4Q16, while the direct construction cost increases moderated YoverY in the quarter. During 4Q16, the company purchased about 4,500 home sites, totaling $250MM, which was flat YoverY.

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