The Motley Fool

JUNE 12, 2024

Finally, Q2 industrial resale of $234 million declined 10% year on year. And for fiscal '24, we now expect industrial resale to be down double-digit percentage year on year, compared to our prior guidance for high single-digit decline. We spent 132 million on capital expenditures. billion of cash and 74 billion of gross debt.

Resale 246

Resale Banks Debt Portfolios 246

The Motley Fool

MAY 16, 2024

The shortfall was due to a combination of a smaller benefit from working capital and higher-than-anticipated cash tax levels. Depreciation and amortization was flat year to year as a percent of revenue, down $17 million, reflecting continued capital discipline. Turning to capital deployment. SG&A was 8.7%

Resale 130

Resale Consulting Consultants Debt 130

The Motley Fool

DECEMBER 15, 2023

homebuilding debt-to-total cap ratio with $6.3 billion plus or minus of net cash flow over the next year, we have the flexibility to invest capital strategically and growth while retiring debt as it matures and repurchasing shares of Lennar stock, which we expect to repurchase at least $2 billion of stock over the next year.

Resale 130

Resale Debt Assets Financial Services 130

The Motley Fool

NOVEMBER 7, 2024

year to year organically as services revenue was down 8% in line with prior quarter, and resale declined 19%. largely due to disciplined resource management, ongoing actions to optimize our data centers and networks, and the lower mix of resale revenue. GIS, which represents 48% of total revenue, declined 9.6% points year to year to 8.2%

Resale 130

Resale Consultants Consulting Accounting 130

The Motley Fool

FEBRUARY 1, 2024

Focusing on these priorities will allow us to achieve our financial objectives, maintaining our solid investment-grade credit rating, investing back into the business, and delivering on our capital allocation priorities, including buybacks. The board and I are fully aligned on our capital allocation strategy. sequentially.

Resale 130

Resale Banks Capital Assets 130

The Motley Fool

NOVEMBER 1, 2023

year-to-year decline, 160 basis points came from a reduced level of low-margin resale revenues, which was in line with our expectations. Free cash flow for the quarter was $91 million, benefiting from our continued focus on working capital management and a lower level of capex. Debt levels decreased modestly in the first quarter to $4.5

Resale 187

Resale Taxes Capital Assets 187

The Motley Fool

JULY 25, 2024

These tenants allow us to target the biggest piece of the potential homebuyer pool by effectively competing its resale inventory, not just in today's environment that favors builders but also when the resale market returns to historical averages. Now turning to Slide 9, this quarter, we successfully enhanced our capital structure.

Resale 130

Resale Securities and Exchange Commission (SEC) Leveraging Banks 130

The Motley Fool

APRIL 18, 2024

We continue to focus on capital efficiency to produce consistent, strong homebuilding operating cash flows and returns. Our capital efficient and flexible lot portfolio is a key to our strong competitive position. Forestar had approximately $800 million of liquidity at quarter end with a net debt to capital ratio of 16.4%.

Resale 130

Resale Securities and Exchange Commission (SEC) Taxes Capital 130

The Motley Fool

FEBRUARY 4, 2025

year to year organically and services revenue was down approximately 7% and resale fell approximately 16%. 3Q resale was down approximately 2%, improving from steeper declines in recent quarters, and we continue to be selective on our resale opportunities based on deal economics. The book-to-bill ratio of 1.51

Resale 130

Resale Consulting Consultants Capital 130

The Motley Fool

AUGUST 6, 2024

We also successfully completed a tender exchange of our 2025 unsecured notes, extending the maturity to 2027 and reducing outstanding corporate debt by $137 million. As part of this transaction, we recorded a $6 million loss on the extinguishment of debt. During the second quarter, pull-through weighted rate lock volume was $5.8

Debt 130

Debt Leveraging Resale Liabilities 130

The Motley Fool

SEPTEMBER 15, 2023

It seems that we have entered a phase of more measured adjustments in order to curtail inflation while the Fed shrinks its balance sheet by approximately $100 billion per month and engages other mechanisms to reduce capital in the market. debt to total capitalization, down from 13.3% Additionally, with our $3.9

Resale 130

Resale Assets Debt Capital 130

The Motley Fool

AUGUST 31, 2023

Finally, Q3 industrial resales of $236 million declined 3% year on year, reflecting weak demand in China. And in Q4, though, we expect an improvement with industrial resales up low single-digit percentage year on year, reflecting largely seasonality. We spent $122 million on capital expenditures. Turning to capital allocation.

Mergers and Acquisitions 246

Mergers and Acquisitions Resale Banks Legal 246

The Motley Fool

MARCH 7, 2024

And finally, Q1 industrial resales of $215 million declined 6% year on year. In fiscal '24, we continue to expand industrial resales to be down high single digits year upon year. We spent $122 million on capital expenditures. billion of gross debt. Turning to capital allocation. We ended the first quarter with $11.9

Resale 188

Resale Debt Banks Shareholders 188

The Motley Fool

AUGUST 8, 2024

While resale revenues performed as expected, down 28% year over year, services revenue declined 8% helped by higher-than-anticipated in-quarter volumes. The lower mix of resale revenue also contributed to the year-to-year margin improvement. As planned, we incurred a modest increase to our debt levels to $4.1 Moving to GIS.

Resale 130

Resale Consulting Consultants Accounting 130

The Motley Fool

OCTOBER 29, 2024

We remain focused on enhancing the capital efficiency of all of our operations to produce consistent, sustainable returns and cash flows so that we can return more capital to shareholders through share repurchases and dividends. Our capital-efficient and flexible lot portfolio is a key to our strong competitive position.

Resale 130

Resale Securities and Exchange Commission (SEC) Taxes Leveraging 130

The Motley Fool

NOVEMBER 16, 2023

Our performance has kept the Children's Place brands in the leadership position on social media, representing close to 50% of total social impressions among our children apparel resale competitive set. Capital expenditures in Q3 were approximately $6 million. Moving on to cash flow and liquidity.

Securities and Exchange Commission (SEC) 188

Securities and Exchange Commission (SEC) Taxes Debt Resale 188

The Motley Fool

JUNE 15, 2023

So, let me go ahead and begin by saying that we are quite pleased to report that the Lennar team has remained focused on production and pace, cash flow, inventory turns, and return on capital, and we have again produced strong and consistent results for the quarter. debt to total capital capitalization ratio, down from 14.2

Resale 130

Resale Assets Debt Capital 130

The Motley Fool

MAY 15, 2024

We can no longer support tying up precious working capital to secure inventory that produces no margin. Credit card debts are at all-time highs. And therefore, we are adjusting operations and overhead working to enhance margins and improve working capital within the segment based on our current economic outlook. The economy.

Assets 130

Assets Capital Resale Accounting 130

The Motley Fool

JULY 30, 2024

Operator instructions] At this time, I would like to turn the call over to Joshua Fattor, executive vice president of investor relations and capital markets. million of capitalized interest charged cost of sales and $1.2 With that, I'll turn the call over to Josh for a discussion of our capital position. Please go ahead.

Leveraging 130

Leveraging Taxes Debt Resale 130

The Motley Fool

NOVEMBER 5, 2024

At this time, I'll turn the call over to Joshua Fattor, executive vice president of investor relations and capital markets. Given when we acquired these communities, the capital invested in their development, and the rising cost of replacement projects, their inherent value is substantial. billion of debt outstanding, including $863.3

Debt 130

Debt Capital Banks Resale 130

The Motley Fool

JANUARY 23, 2024

We expect our housing inventory turns to improve in fiscal 2024 compared to fiscal 2023 and our ongoing focus on capital efficiency to produce strong homebuilding operating cash flows and consistent returns. Our capital-efficient and flexible lot portfolio is the key to our strong competitive position. billion, up 3% sequentially.

Securities and Exchange Commission (SEC) 130

Securities and Exchange Commission (SEC) Resale Leveraging Taxes 130

The Motley Fool

FEBRUARY 2, 2024

Orange County, and Atlanta, both underperformed mainly for reasons related to bad debt, skips and evictions, and fraud. Orange County will come primarily from a reduction in bad debt as we repopulate many of our vacant units with residents who actually pay their rent. Of the remaining three, L.A. We anticipate the improvement in L.A.

Debt 130

Debt Taxes Capital Assets 130

The Motley Fool

AUGUST 1, 2024

More importantly, we are just beginning to implement drilling unit design and operational changes that we expect will create substantial value in the Callon acreage via improved well performance and capital efficiency. Egypt also had a very good quarter and is beginning to deliver significant capital efficiency improvements.

Capital 130

Capital Taxes Debt Assets 130

The Motley Fool

JULY 26, 2024

In this podcast, Motley Fool host Ricky Mulvey and analysts Bill Mann and Asit Sharma discuss earnings from Charles Schwab and then, they draft their favorite CEOs in the following categories: capital allocation, growth stories, turnarounds, and wildcard picks. Ricky Mulvey: Let's start with a capital allocator. So 101% chance.

Banks 130

Banks Capital Resale Assets 130

The Motley Fool

NOVEMBER 5, 2024

As we look forward to a healthier and more normalized housing market, it is now time for the company to look forward to a new horizon and focus on capitalizing on our many opportunities to offer differentiated value propositions to our stakeholders. Jeff DerGurahian -- Chief Capital Markets Officer Hey, Doug, this is Jeff DerGurahian.

Leveraging 130

Leveraging Resale Finance Financing 130

The Motley Fool

FEBRUARY 1, 2024

As we previously discussed, two of the largest population cohorts, the millennials and recently Gen Zs are having life events lean to increased levels of need-based housing that currently cannot be met by the constrained resale of home supply in the market. Our net debt-to-cap remains well below our max ceiling, which is in the mid 20%.

Securities and Exchange Commission (SEC) 130

Securities and Exchange Commission (SEC) Leveraging Finance Financing 130

The Motley Fool

JANUARY 19, 2024

We significantly reduced working capital by a total of about $600 million on a sequential quarterly basis, and this includes the benefit from a partial reduction of our inventory levels. In a variety of cases, we also simplified and improved our product offering, allowing us to reduce complexity and drive down working capital.

Leveraging 130

Leveraging Resale Taxes Capital 130

The Motley Fool

SEPTEMBER 7, 2023

If you think about it from a capital allocation standpoint, the feel good of being locally invested, being named on television every time the home team plays that is well worth $2 million a year. The energy drink makers return on invested capital, even today, is about 20%, and that's on the low end of historic averages.

Companies 130

Companies Hedge Funds Investing Resale 130

The Motley Fool

DECEMBER 7, 2023

Industrial resales were 962 million. In fiscal '24, we expect industrial resales to be down low single digits year on year. We spent 105 million on capital expenditures. billion of gross debt, of which 1.6 We spent 452 million on capital expenditures, and free cash flow grew 8% year on year to 17.6

Resale 130

Resale Banks Assets Shareholders 130

The Motley Fool

APRIL 26, 2024

During the spring selling season with a healthy supply of move-in ready inventory, we were able to capitalize on strong market conditions generated by the increasing need for housing for millennials and Gen Zs as well as the move-down Baby Boomers who continue to find our limited inventory, limited availability of resale housing supply.

Securities and Exchange Commission (SEC) 130

Securities and Exchange Commission (SEC) Leveraging Finance Financing 130

The Motley Fool

JULY 20, 2023

We are focused on consolidating market share by supplying more homes to meet homebuyer demand, while maximizing the returns and capital efficiency each of -- in each of our communities. Our capital-efficient and flexible lot portfolio is a key to our strong competitive position. Forestar is separately capitalized from D.R.

Banks 130

Banks Securities and Exchange Commission (SEC) Leveraging Taxes 130

The Motley Fool

SEPTEMBER 11, 2024

As we head into the fall season, we are maintaining our disciplined inventory allocations, which we believe will enable us to be less reliant on promotions to sell through inventory and capitalize on any momentum shifts we may see, though we still expect IMU to be a continued headwind as our athletic inventory expands.

Taxes 130

Taxes Leveraging Consultants Consulting 130

The Motley Fool

AUGUST 1, 2023

And lastly, the resale home market remains tight as existing buyers are hesitant to leave their low rate mortgages, which limits available inventory and helps to increase new home demand. billion and net debt to cap of negative 0.2% Our target net debt to cap has always been kind of in the low – mid-20s, we are way off of that.

Securities and Exchange Commission (SEC) 130

Securities and Exchange Commission (SEC) Taxes Resale Banks 130

The Motley Fool

MAY 8, 2024

billion in long term debt, just $2.5 One, we want scale, not really interested in smaller accounts we want professional capital that will do the right thing behind it. I think where you will see institutional investors or professional capital invest is going to be in this BTR and in this newer product. They have $14.6

Banks 130

Banks Resale Portfolios Accounting 130

The Motley Fool

AUGUST 3, 2023

and Egypt, a reduction in year-over-year per unit LOE and G&A costs, working capital improvements in Egypt, and the appraisal of Krabdagu in Suriname. We are committed to our shareholder returns framework and to allocating capital for the long-term benefit of investors. We are also reducing our full-year LOE outlook from $1.5

Capital 100

Capital Shareholders Banks Resale 100

The Motley Fool

SEPTEMBER 12, 2024

Our strengthening market position, profitable and growing business, and debt free balance sheet, all enabled our recently announced first-ever share buyback authorization. Last week, we launched our resale platform piloting with our own associates before launching a customer facing experience in the near future.

Leveraging 130

Leveraging Finance Financing Capital 130

The Motley Fool

FEBRUARY 27, 2024

But Chris, maybe could you just walk us through like your kind of required sort of debt pay down or paying down on the warehouse over the next 12 months? Chris Nielsen -- Chief Financial Officer Yes, the short answer to your question is we do feel good about our capital position. I think it's nearly $200 million.

Securities and Exchange Commission (SEC) 100

Securities and Exchange Commission (SEC) Banks Resale Legal 100