Lennar Reports Q3 Earnings, New Orders Rise 37%
Portfolio Pulse from Ryan Gustafson
Lennar Corporation reported Q3 earnings of $3.91 per share, beating the analyst consensus estimate of $3.51. Quarterly sales of $8.73 billion also beat the analyst consensus estimate of $8.45 billion but fell 2.28% from the same period last year. New orders increased 37% to 19,666 homes and the new orders dollar value increased 30% to $8.6 billion. The company anticipates new orders in the fourth-quarter in a range between 16,200 and 17,200.
September 14, 2023 | 9:00 pm
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Lennar Corporation reported better than expected Q3 earnings and sales. However, sales fell 2.28% from the same period last year. New orders and their dollar value increased significantly.
Lennar Corporation's better than expected Q3 earnings and sales, along with the significant increase in new orders, are positive indicators for the company's performance. However, the decrease in sales from the same period last year might be a concern for investors. Overall, the news is likely to have a positive impact on the company's stock in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100