Lennar Corp. Fourth Quarter 2012 Numbers
$124.3 M +310.7%
$679.1 M +636.6%
Behind the Numbers: Lennar turned in an overwhelmingly positive performance for both its last quarter and all of 2012. It’s impossible to argue with a yearly profit up more than six times 2011’s number. The company called in some tax benefits, but most of the profit was for pure performance. The beginning of 2013 looks strong as well with a $1.2 billion backlog and contracts up 87% over 2012. The company is also diversifying this year, branching out into multifamily, tapping into a $1 billion pipeline of projects scheduled to unroll over the next three years. It is also launching its large FivePoint community development program. CEO Stuart Miller proclaimed that the housing market is poised to resume its traditional role of lifting the economy out of the post-recession doldrums.
Lennar Corp.’s fourth quarter and fiscal year ended Nov. 30.