Lennar profit beats on higher home sales [Reuters]
Lennar Corporation Class A (LEN)
Last lennar corporation class a earnings: 3/19 06:00 am
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Source: Reuters
Lennar profit beats on higher home sales - Reuters 2 Min Read (Reuters) - Lennar Corp ( LEN.N ) reported a better-than-expected profit on Wednesday, as cheaper mortgage rates led to higher demand for its homes. The No. 2 U.S. homebuilder’s shares rose more than 2% before the opening bell. The company said its orders, a key indicator of future revenue, rose 8.5% to 13,369 homes in the third quarter, beating its own expectation of a rise of 5.5% to 7.6%. But Lennar’s orders in California, one of its biggest markets, have grown a relatively slower pace this year than the company’s total orders, as wealthy Chinese buyers have turned cautious, likely postponing their purchase decision amid a tit-for-tat Sino-U.S. trade war. “The market continued to solidify through the third quarter, stimulating both the affordability and demand for homes,” Lennar Chairman Stuart Miller said in a statement. Net income attributable to the company rose 13.3% to $513.4 million, or $1.59 per share, in the qu
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LEN
Earnings
- 3/13/24 - Beat
LEN
Sec Filings
- 4/25/24 - Form 10-K/A
- 4/11/24 - Form 4
- 4/11/24 - Form 4
- LEN's page on the SEC website