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Lennar Corp (LEN) SEC Filing 10-Q Quarterly report for the period ending Thursday, February 28, 2019

Lennar Corp

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CIK: 920760 Ticker: LEN
Exhibit 99.1





Contact:
Allison Bober
Investor Relations
Lennar Corporation
(305) 485-2038
FOR IMMEDIATE RELEASE
Lennar Reports First Quarter EPS of $0.74
•
Net earnings of $239.9 million, or $0.74 per diluted share, compared to net earnings of $136.2 million, or $0.53 per diluted share
•
Deliveries of 8,820 homes – up 30%
•
New orders of 10,463 homes – up 24%; new orders dollar value of $4.2 billion – up 23%
•
Backlog of 17,259 homes – down 2%; backlog dollar value of $7.1 billion – down 7%
•
Revenues of $3.9 billion – up 30%
•
Homebuilding operating margins of $384.9 million, compared to $258.1 million
◦
Gross margin on home sales of 20.1%, compared to 19.5%
◦
S,G&A expenses as a % of revenues from home sales of 9.5%, compared to 9.7%
◦
Operating margin on home sales of 10.6%, compared to 9.8%
•
Financial Services operating earnings (net of noncontrolling interests) of $21.8 million, compared to $25.9 million
•
Multifamily operating earnings of $6.8 million, compared to operating loss of $1.2 million
•
Homebuilding cash and cash equivalents of $853 million
•
Homebuilding debt to total capital of 38.5%



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The following information was filed by Lennar Corp (LEN) on Wednesday, March 27, 2019 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside Lennar Corp's 10-Q Quarterly Report:

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Document And Entity Information
Condensed Consolidated Balance Sheets
Condensed Consolidated Balance Sheets (Parenthetical)
Condensed Consolidated Statements Of Cash Flows
Condensed Consolidated Statements Of Operations And Comprehensive Income (Loss)
Basis Of Presentation
Basis Of Presentation (Policy)
Business Acquisition
Business Acquisition (Narrative) (Details)
Business Acquisition (Purchase Price) (Details)
Business Acquisition (Schedule Of Assets Acquired And Liabilities Assumed) (Details)
Business Acquisition (Tables)
Cash And Cash Equivalents And Restricted Cash
Cash And Cash Equivalents And Restricted Cash (Details)
Cash And Cash Equivalents And Restricted Cash (Tables)
Commitments And Contingent Liabilities
Earnings Per Share
Earnings Per Share (Narrative) (Details)
Earnings Per Share (Tables)
Financial Instruments And Fair Value Disclosures
Financial Instruments And Fair Value Disclosures - (Fair Value Assets Measured On Nonrecurring Basis) (Details)
Financial Instruments And Fair Value Disclosures - (Narrative) (Details)
Financial Instruments And Fair Value Disclosures - (Reconciliation Of Beginning And Ending Balance For The Company's Level 3 Recurring Fair Value Measurements) (Details)
Financial Instruments And Fair Value Disclosures - (Carrying Amounts And Estimated Fair Value Of Financial Instruments) (Details)
Financial Instruments And Fair Value Disclosures - (Fair Value Measured On Recurring Basis) (Details)
Financial Instruments And Fair Value Disclosures - (Schedule Of Gains And Losses Of Financial Instruments) (Details) (Details)
Financial Instruments And Fair Value Disclosures (Tables)
Financial Instruments And Fair Value Disclosures - (Unobservable Inputs Used In Discounted Cash Flow Model To Determine The Fair Value Of Communities) (Details)
Financial Services Segment
Financial Services Segment (Narrative) (Details)
Financial Services Segment (Schedule Of Assets And Liabilities) (Details)
Financial Services Segment (Schedule Of Credit Facilities) (Details)
Financial Services Segment (Schedule Of Loan Origination Liabilities) (Details)
Financial Services Segment (Tables)
Homebuilding Investments In Unconsolidated Entities
Homebuilding Investments In Unconsolidated Entities (Balance Sheets) (Details)
Homebuilding Investments In Unconsolidated Entities (Narrative) (Details)
Homebuilding Investments In Unconsolidated Entities (Statements Of Operations) (Details)
Homebuilding Investments In Unconsolidated Entities (Tables)
Homebuilding Investments In Unconsolidated Entities (Total Debt Of Unconsolidated Entities) (Details)
Homebuilding Senior Notes And Other Debts Payable
Homebuilding Senior Notes And Other Debts Payable (Narrative) (Details)
Homebuilding Senior Notes And Other Debts Payable (Schedule Of Senior Notes And Other Debts Payable) (Details)
Homebuilding Senior Notes And Other Debts Payable (Tables)
Income Taxes
Income Taxes (Income Tax Benefit (Provision) (Details)
Income Taxes (Narrative) (Details)
Income Taxes (Tables)
Lennar Other
Lennar Other (Tables)
Lennar Other Segment (Assets And Liabilities By Segment) (Details)
Lennar Other Segment (Narrative) (Details)
Multifamily (Narrative) (Details)
Multifamily Segment
Multifamily Segment (Assets And Liabilities Related To Multifamily Segment) (Details)
Multifamily Segment (Condensed Financial Information By Equity Method Investments) (Details)
Multifamily Segment (Tables)
New Accounting Pronouncements
Operating And Reporting Segments
Operating And Reporting Segments (Disclosure Of Financial Information Relating To Company's Operations) (Details)
Operating And Reporting Segments (Tables)
Product Warranty
Product Warranty (Schedule Of Product Warranty Reserve) (Details)
Product Warranty (Tables)
Schedule Of Basic And Diluted Earnings Per Share (Details)
Share-Based Payments
Share-Based Payments (Compensation Expense, Share-Based Payment Awards) (Details)
Stockholders' Equity
Stockholders' Equity (Schedule Of Changes In Equity) (Details)
Stockholders' Equity (Tables)
Supplemental Financial Information
Supplemental Financial Information (Condensed Consolidating Balance Sheet) (Details)
Supplemental Financial Information (Condensed Consolidating Statement Of Cash Flows) (Details)
Supplemental Financial Information (Condensed Consolidating Statement Of Operations And Comprehensive Income) (Details)
Supplemental Financial Information (Narrative) (Details)
Supplemental Financial Information (Tables)
Variable Interest Entities
Variable Interest Entities (Estimated Maximum Exposure To Loss) (Details)
Variable Interest Entities (Narrative) (Details)
Variable Interest Entities (Tables)

Material Contracts, Statements, Certifications & more

Lennar Corp provided additional information to their SEC Filing as exhibits

Exhibit 31.1: Rule 13A-14(A)/15D-14(A) Certification
Exhibit 31.2: Rule 13A-14(A)/15D-14(A) Certification
Exhibit 32: Section 1350 Certification
Ticker: LEN
CIK: 920760
Form Type: 10-Q Quarterly Report
Accession Number: 0001628280-19-004004
Submitted to the SEC: Mon Apr 08 2019 8:02:27 AM EST
Accepted by the SEC: Mon Apr 08 2019
Period: Thursday, February 28, 2019
Industry: General Bldg Contractors Residential Bldgs

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