Lennar Q1 2024 GAAP EPS $2.57 Beats $2.23 Estimate, Sales $7.310B Miss $7.388B Estimate
Portfolio Pulse from Benzinga Newsdesk
Lennar Corporation (LEN) reported Q1 2024 earnings of $2.57 per share, surpassing the $2.23 estimate, but its sales of $7.310B fell short of the $7.388B estimate. This represents a 12.63% increase in sales compared to the same period last year.
March 13, 2024 | 8:30 pm
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POSITIVE IMPACT
Lennar Corporation reported higher than expected Q1 2024 earnings per share but missed sales estimates, showing a significant year-over-year sales growth.
The positive earnings surprise, with EPS exceeding analyst expectations by 15.25%, is likely to be viewed favorably by investors, potentially leading to a short-term uptick in LEN's stock price. However, the slight miss on sales estimates could temper some of the positive sentiment. The significant year-over-year sales growth indicates strong business performance, further supporting a positive outlook.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100