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Lennar (LEN) Beats on Q1 Earnings and Revenues

LEN

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Lennar Corporation (LEN - 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 the earnings estimate for LEN has remained stable in the past 60 days. Again, LEN has been posting positive earnings surprise for the past four quarters in a row, with an average surprise of 12.66%.

Currently, LEN has a Zacks Rank #2 (Buy), but that could definitely change following its earnings report which was just released. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

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 56 cents per share, and the company reported adjusted EPS of 59 cents instead.

Lennar Corporation Price and EPS Surprise

Revenues: LEN reported revenues of $2.34 billion. This surpassed our consensus estimate of $2.20 billion.

Key Stats to Note: New Order units increased 12% 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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