Homebuilder Lennar Reports Better-Than-Expected Q3 Results: Details
Portfolio Pulse from Erica Kollmann
Lennar Corp (NYSE:LEN) reported better-than-expected Q3 earnings, with EPS of $3.90 and revenue of $9.416 billion, both surpassing analyst estimates. The company saw a 16% increase in deliveries and a 5% rise in new orders. Despite affordability challenges, Lennar remains optimistic about future orders and deliveries.
September 19, 2024 | 9:05 pm
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Lennar Corp reported strong Q3 results, beating earnings and revenue estimates. The company saw significant increases in deliveries and new orders, indicating robust demand despite affordability challenges. The stock is down 3.36% in extended trading.
Lennar's better-than-expected earnings and revenue, along with increased deliveries and new orders, suggest strong operational performance. However, the stock's decline in extended trading may reflect market volatility or profit-taking. The positive outlook for future orders and deliveries supports a likely upward price movement in the short term.
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