Filing Flows › Lennar (LEN) › Q4 FY24
Lennar (LEN) Q4 FY24 earnings results (fourth quarter fiscal 2024)
10-K filed Jan 23, 2025
Lennar (LEN) reported revenue of $9.9B for the fourth quarter fiscal 2024 (Q4 FY24), -9% from a year earlier and +6% from the quarter before. Operating margin was 13.7%, net earnings $1.1B (11.0% of revenue).
Lennar, Q4 FY24: revenue $9.9B (-9% year over year), operating margin 13.7%, net earnings $1.1B, operating cash flow $975M. The chart follows the revenue to costs, profit and cash.
| Q4 FY24 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $9.9B | +6% | -9% |
| Operating profit | $1.4B | +6% | -28% |
| Net earnings | $1.1B | -6% | -19% |
| Operating cash flow | $975M | +19% | -62% |
| Free cash flow | $933M | +17% | -63% |
What changed
Revenue was $9.9B in Q4 FY24, down 9% year over year and up 6% from the previous quarter.
Operating profit was $1.4B, a 13.7% margin (down 3.5 points year over year). Total costs fell 5% while revenue fell 9%. The fastest-growing cost line was General & admin (+25%). Net earnings were $1.1B, down 19% year over year. The effective tax rate was 24.6%.
Operating cash flow was $1.0B (down 62% year over year), 89% of net earnings. Non-cash charges added back $0.03B of depreciation and amortization and $0.02B of share-based compensation. Working capital and other items used $0.18B. Capital expenditures of $0.04B left free cash flow of $0.93B.
Questions
What was Lennar's revenue in the fourth quarter fiscal 2024?
Lennar (LEN) reported revenue of $9.9B for the fourth quarter fiscal 2024 (Q4 FY24), -9% from a year earlier and +6% from the quarter before.
Was Lennar profitable in the fourth quarter fiscal 2024?
Operating profit was $1.4B (13.7% of revenue) and net earnings $1.1B.
Source: Lennar 10-K on SEC EDGAR.