BRIEF-Lennar Reports First Quarter EPS Of $3.20

March 16 (Reuters) - Lennar Corp LEN.N:

• LENNAR REPORTS FIRST QUARTER EPS OF $3.20

• Q1 EARNINGS PER SHARE $3.20

• Q1 REVENUE $5.3 BILLION VERSUS REFINITIV IBES ESTIMATE OF $5.12 BILLION

• Q1 EARNINGS PER SHARE ESTIMATE $1.71 -- REFINITIV IBES DATA

• Q1 EARNINGS PER SHARE $2.04 EXCLUDING ITEMS

• QTRLY DELIVERIES OF 12,314 HOMES, UP 19%

• QTRLY NEW ORDERS OF 15,570 HOMES, UP 26%; NEW ORDERS DOLLAR VALUE OF $6.5 BILLION, UP 31%

• AVERAGE SALES PRICE OF HOMES DELIVERED WAS $398,000 IN Q1 OF 2021, COMPARED TO $402,000 IN Q1 OF 2020

• REVENUES FROM HOME SALES INCREASED 18% IN Q1 OF 2021 TO $4.9 BILLION FROM $4.1 BILLION IN Q1 OF 2020

• QTRLY BACKLOG OF 22,077 HOMES, UP 25%

• GROSS MARGIN ON HOME SALES WERE $1.2 BILLION, OR 25.0%, IN Q1 OF 2021, COMPARED TO $849.0 MILLION, OR 20.5%, IN Q1 OF 2020

• SEES Q2 NEW ORDERS OF 16,500 - 16,700

• SEES Q2 DELIVERIES OF 14,200 - 14,400

• SEES Q2 AVERAGE SALES PRICE OF $405,000

• ENDED QUARTER WITH $2.4 BILLION IN CASH AND NO BORROWINGS ON OUR REVOLVER

Source text for Eikon: ID:nPn3kRRwya

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