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Press release content from PR Newswire. The AP news staff was not involved in its creation. Lennar Reports First Quarter EPS of $3.20 March 16, 2021 GMT MIAMI, March 16, 2021 /PRNewswire/ Net earnings of $1.0 billion, or $3.20 per diluted share, compared to net earnings of $398.5 million, or $1.27 per diluted share – both up over 150% Excluding the pretax gain of $469.7 million ($358.7 million after tax) related to the mark to market of a strategic investment that went public, EPS would have been $2.04 per diluted share Deliveries of 12,314 homes – up 19% New orders of 15,570 homes – up 26%; new orders dollar value of $6.5 billion – up 31% Backlog of 22,077 homes – up 25%; backlog dollar value of $9.5 billion – up 32% ....
More builders and investors are testing the waters of the single-family build-to-rent sector as consumers seek affordable housing options and to lease rather than buy. ....
2020 Fourth Quarter Net earnings of $882.8 million, or $2.82 per diluted share, compared to $674.3 million, or $2.13 per diluted share Deliveries of 16,090 homes – down 2% New orders of 15,214 homes – up 16%; new orders dollar value of $6.3 billion – up 22% Backlog of 18,821 homes – up 21%; backlog dollar value of $7.8 billion – up 24% Revenues of $6.8 billion – down 2% Homebuilding operating earnings of $1.1 billion, compared to $892.5 million Gross margin on home sales of 25.0%, compared to 21.5% S,G&A expenses as a % of revenues from home sales improved to 7.5%, compared to 7.6% Net margin on home sales of 17.4%, the highest in the Company s history, compared to 13.9% Financial Services operating earnings of $151.2 million, compared to $74.8 million ....