Lennar Q2 Adj EPS $2.94 Beats $2.32 Estimate, Sales $8.04B Beat $7.18B Estimate
Portfolio Pulse from Benzinga Newsdesk
Lennar Corporation (NYSE:LEN) reported Q2 adjusted earnings of $2.94 per share, beating the analyst consensus estimate of $2.32 by 26.72%. Quarterly sales were $8.04 billion, surpassing the estimate of $7.18 billion by 12.05%. However, both earnings and sales decreased compared to the same period last year.
June 14, 2023 | 8:38 pm
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Lennar Corporation's Q2 earnings and sales beat analyst estimates, but both figures decreased compared to the same period last year.
Lennar Corporation's Q2 earnings and sales exceeded analyst expectations, which is generally a positive signal for the stock price. However, the year-over-year decrease in both earnings and sales may temper the positive impact. Overall, the stock is likely to experience a short-term increase due to the earnings beat, but the decrease in earnings and sales compared to last year should be considered.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100