Lennar (LEN) Revenue — Quarter Ended May 31, 2023
Revenue for the quarter rose sequentially but fell compared to the same period last year. The increase from the prior quarter reflects a rebound, while the year-over-year decline indicates ongoing challenges.
Key takeaway
Quarter ended May 31, 2023 · FY2023 Q2
Revenue for the quarter rose sequentially but fell compared to the same period last year. The increase from the prior quarter reflects a rebound, while the year-over-year decline indicates ongoing challenges.
Financial snapshot
Reported revenue, sequential change, year-over-year change, and trailing four-quarter revenue.
Quarter revenue
$8B
Revenue reported for this quarter.
Quarter-over-quarter
+24.0%
Change from the immediately preceding quarter.
Year-over-year
-3.8%
Change from the comparable year-ago quarter.
Trailing four quarters
$33.6B
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 |
|---|---|---|
| Aug 31, 2022 | $8.9B | +28.7% |
| Nov 30, 2022 | $10.2B | +20.6% |
| Feb 28, 2023 | $6.5B | +4.6% |
| May 31, 2023 | $8B | -3.8% |
Revenue performance
The company reported higher revenue compared to the prior quarter, marking a significant sequential gain.
Quarterly comparison
Compared to the same quarter last year, revenue was lower, reflecting a decline. In contrast, the sequential comparison showed a strong improvement.
What to watch
Monitor whether the sequential revenue growth can be sustained in the coming quarters, especially given the year-over-year decline.