Lennar Corporation (LEN - Free Report) is one of the leading homebuilders in the United States. 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 2018 earnings estimate for LEN has moved north in the past seven days. Meanwhile, LEN has been posting positive earnings surprise for the past four quarters in a row, with an average surprise of 9.10%.
Currently, LEN has a Zacks Rank #1 (Strong 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 stocks here.
We have highlighted some of the key stats from this just-revealed announcement below:
Earnings: LEN missed on earnings. The Zacks Consensus Estimate for earnings called for $1.50 per share, and the company reported adjusted EPS of $1.29 instead.
Revenues: LEN reported revenues of $3.8 billion. This surpassed the consensus estimate of $3.62 billion.
Key Stats to Note: New Order units increased 12% in the quarter.
Check back later for our full write up on this LEN earnings report later.
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