Lennar Corporation Earnings Preview: Will The Homebuilder Stock Show Resilience Amid Housing Challenges?
Portfolio Pulse from Piero Cingari
Lennar Corporation (NYSE:LEN) is set to release its Q3 earnings report, with analysts expecting an EPS of $3.52, a 32% decline YoY. Despite this, Lennar has been improving its EPS over the past two quarters. Sales for Q3 are estimated at $8.49 billion, a 5% decline YoY. The company has consistently exceeded revenue forecasts in its last six earnings reports. Lennar's stock has increased by 27.7% YTD, slightly underperforming the iShares U.S. Home Construction ETF (NYSE:ITB), which has surged by 36%.
September 14, 2023 | 7:52 pm
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NEUTRAL IMPACT
Lennar Corporation is expected to report a YoY decline in EPS and sales for Q3. However, the company has been improving its EPS and consistently exceeding revenue forecasts.
The expected YoY decline in EPS and sales could negatively impact the stock. However, the consistent improvement in EPS and exceeding of revenue forecasts could offset this.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
The iShares U.S. Home Construction ETF has outperformed Lennar Corporation, surging by 36% YTD.
The ETF's outperformance of Lennar indicates a strong performance of the home construction sector, which could attract more investors.
CONFIDENCE 90
IMPORTANCE 60
RELEVANCE 50