Lennar Corporation (LEN Quick QuoteLEN - Free Report) is one of the leading homebuilders in the U.S. With overall housing market recovering at a slow but steady pace, Lennar’s order trends have been improving at a consistent pace.

Lennar is performing well on the back of its diverse revenue mix, large land supply, above average order growth and better pricing power. Moreover, Lennar’s ancillary platforms — Rialto, Multi-Family, FivePoint and Financial Services — are evolving and are expected to contribute meaningfully in the near future.

Investors should also note that most of the earnings estimate revision for LEN has been downward in the past 60 days. However, LEN has been posting positive earnings surprise for the past four quarters in a row, with an average surprise of 18.06%.

Currently, LEN has a Zacks Rank #3 (Hold), but that could definitely change following Lennar’ earnings report which was just released. We have highlighted some of the key stats from this just-revealed announcement below:

Earnings: LEN beat on earnings. Our consensus earnings estimate called for EPS of $0.87 share, and the company reported EPS of $0.95 instead. Investors should note that these figures take out stock option expenses.

Revenues: LEN reported revenues of $2.746 billion. This surpassed our consensus estimate of $2.573 billion.  

Key Stats to Note: Order units increased 10% in the quarter.

Stock Price: Shares stayed inactive during pre-market trading.

Check back later for our full write up on this LEN earnings report later.

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