Lennar tops earnings estimates as deliveries climb 16% while prices fall 7% [MarketWatch]
Lennar Corporation Class A (LEN)
Last lennar corporation class a earnings: 3/19 06:00 am
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Source: MarketWatch
Lennar tops earnings estimates as deliveries climb 16% while prices fall 7% Lennar Corp. LEN, -1.57% , the Miami homebuilder, said fourth quarter ending Nov. 30 fell to $674.3 million, or $2.13 a share, from $796.1 million, or $2.42 a share, with revenue rose to $6.97 billion from $6.46 billion. The year-earlier quarter included a 58 cents a share gain on the sale of an investment and asset management platform. Analysts polled by FactSet expected earnings of $1.90 a share on revenue of $6.51 billion. Lennar reported a 16% increase in the number of home deliveries but a 7% decrease in the average sales price of homes. Its backlog of 15,577 homes had a dollar value of $6.3 billion, down 4%. Lennar expects fiscal 2020 deliveries to be in the range of 54,000 to 55,000 homes, homebuilding gross margin percentage to be in the range of 20.5% to 21.0% and cash flows to continue to accelerate, and it says it will "opportunistically deploy excess cash flow" to repurchase additional debt and
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- Lennar (LEN) Stock Declines While Market Improves: Some Information for Investors [Yahoo! Finance]Yahoo! Finance
- Third Avenue International Real Estate Value Fund Q1 2024 Portfolio Manager Commentary [Seeking Alpha]Seeking Alpha
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