Market Overview

UPDATE: Lennar Posts Higher FQ4 Profit

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Lennar (NYSE: LEN) reported a rise in its fiscal fourth-quarter profit.

Lennar's quarterly profit surged to $164.1 million, or $0.73 per share, from a year-ago profit of $124.3 million, or $0.56 per share.

Its revenue climbed 42% to $1.92 billion from $1.35 billion. However, analysts were estimating earnings of $0.62 per share on revenue of $1.88 billion.

Lennar's deliveries of homes rose 27%, while new orders climbed 13%.

Lennar shares closed at $35.20 yesterday.

Posted-In: profitEarnings News

 

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