Lennar (LEN) Revenue — Quarter Ended Feb 28, 2023
Revenue for the quarter declined sharply from the preceding quarter, yet managed a modest year-over-year improvement. The sequential drop marks a notable reversal from the prior upward trend.
Key takeaway
Quarter ended Feb 28, 2023 · FY2024 Q1
Revenue for the quarter declined sharply from the preceding quarter, yet managed a modest year-over-year improvement. The sequential drop marks a notable reversal from the prior upward trend.
Financial snapshot
Reported revenue, sequential change, year-over-year change, and trailing four-quarter revenue.
Quarter revenue
$6.5B
Revenue reported for this quarter.
Quarter-over-quarter
-36.2%
Change from the immediately preceding quarter.
Year-over-year
+4.6%
Change from the comparable year-ago quarter.
Trailing four quarters
$34B
Sum of the latest four reported quarters.
Quarterly revenue trend
The latest four reported quarters with year-over-year comparisons.
| Period ended | Revenue | Year-over-year change |
|---|---|---|
| May 31, 2022 | $8.4B | +30.0% |
| Aug 31, 2022 | $8.9B | +28.7% |
| Nov 30, 2022 | $10.2B | +20.6% |
| Feb 28, 2023 | $6.5B | +4.6% |
Revenue performance
Reported revenue decreased compared to the immediately prior quarter, while it increased relative to the same period last year.
Quarterly comparison
When measured against the preceding three-month period, revenue fell significantly. In contrast, revenue was higher than the same quarter one year earlier.
What to watch
The sharp sequential decline in revenue warrants attention for potential underlying shifts in demand or execution.