Lennar (NYSE: LEN) reported earnings on June 25. Here are the numbers you need to know.

The 10-second takeaway
For the quarter ended May 31 (Q2), Lennar beat expectations on revenues and crushed expectations on earnings per share.

Compared to the prior-year quarter, revenue grew significantly. GAAP earnings per share contracted significantly.

Gross margins dropped, operating margins grew, net margins contracted.

Revenue details
Lennar logged revenue of $1.43 billion. The 11 analysts polled by S&P Capital IQ looked for a top line of $1.32 billion on the same basis. GAAP reported sales were 53% higher than the prior-year quarter's $930.2 million.

Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.

EPS details
EPS came in at $0.61. The 18 earnings estimates compiled by S&P Capital IQ anticipated $0.34 per share. GAAP EPS of $0.61 for Q2 were 70% lower than the prior-year quarter's $2.06 per share.

Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.

Margin details
For the quarter, gross margin was 13.8%, much worse than the prior-year quarter. Operating margin was 11.4%, 150 basis points better than the prior-year quarter. Net margin was 9.6%, much worse than the prior-year quarter. (Margins calculated in GAAP terms.)

Looking ahead
Next quarter's average estimate for revenue is $1.59 billion. On the bottom line, the average EPS estimate is $0.48.

Next year's average estimate for revenue is $5.79 billion. The average EPS estimate is $1.86.

Investor sentiment
The stock has a two-star rating (out of five) at Motley Fool CAPS, with 552 members out of 1,239 rating the stock outperform, and 687 members rating it underperform. Among 332 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 166 give Lennar a green thumbs-up, and 166 give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Lennar is hold, with an average price target of $43.34.

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Seth Jayson had no position in any company mentioned here at the time of publication. You can view his stock holdings here. He is co-advisor of Motley Fool Hidden Gems, which provides new small-cap ideas every month, backed by a real-money portfolio. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.