Lennar Corp. (NYSE:LEN) reported its Q4 results on Tuesday, with EPS coming in at $2.12, beating the Street estimate of $1.55. Revenue was $6.49 billion, coming in significantly above the Street estimate of $5.91 billion.
The company anticipates receiving new orders between 16,000 and 17,000, delivering between 15,000 and 16,000 units, and selling at an average price range of $435,000 to $445,000 for Q2/23. Additionally, for the entire year, the company expects deliveries to fall within the 62,000 to 66,000 range.
According to the analysts at RBC Capital, results and guidance were solid, and they believe the company is executing well with a strong cash flow focus, but recent trends and the rapidly evolving current dynamics keep them cautious. The analysts maintained its Underperform though their target moved up to $85 from $76.