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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 60 days. Meanwhile, LEN has been posting positive earnings surprise for the past four quarters in a row, with an average surprise of 4.2%.
We have highlighted some of the key stats from this just-revealed announcement below:
Earnings: The company reported first-quarter adjusted earnings of $1.11 per share. The reported figure mainly includes integration costs related to the acquisition of CalAtlantic Group, Inc. and one-time non-cash write down of deferred tax assets due to the reduction in the federal corporate income tax rate. Including these items, the reported figure came in at 53 cents per share in the quarter that increased considerably from the year ago profit level of 16 cents per share.
Revenues: Total revenues of $3 billion improved 28% year over year.
Key Stats to Note: New Order units increased 30% in the quarter.
Share Price Movement: Shares were up 2.2% in pre-market trading, at the time of writing.
Check back later for our full write up on this LEN earnings report later.
Wall Street’s Next Amazon
Zacks EVP Kevin Matras believes this familiar stock has only just begun its climb to become one of the greatest investments of all time. It’s a once-in-a-generation opportunity to invest in pure genius.
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Lennar's (LEN) Q1 Earnings & Revenues Improve Y/Y
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 60 days. Meanwhile, LEN has been posting positive earnings surprise for the past four quarters in a row, with an average surprise of 4.2%.
Currently, LEN has a Zacks Rank #3 (Hold), 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: The company reported first-quarter adjusted earnings of $1.11 per share. The reported figure mainly includes integration costs related to the acquisition of CalAtlantic Group, Inc. and one-time non-cash write down of deferred tax assets due to the reduction in the federal corporate income tax rate. Including these items, the reported figure came in at 53 cents per share in the quarter that increased considerably from the year ago profit level of 16 cents per share.
Lennar Corporation Price and EPS Surprise
Lennar Corporation Price and EPS Surprise | Lennar Corporation Quote
Revenues: Total revenues of $3 billion improved 28% year over year.
Key Stats to Note: New Order units increased 30% in the quarter.
Share Price Movement: Shares were up 2.2% in pre-market trading, at the time of writing.
Check back later for our full write up on this LEN earnings report later.
Wall Street’s Next Amazon
Zacks EVP Kevin Matras believes this familiar stock has only just begun its climb to become one of the greatest investments of all time. It’s a once-in-a-generation opportunity to invest in pure genius.
Click for details >>