Lennar's stock set to rally after profit, revenue rise above expectations [MarketWatch]
Lennar Corporation Class A (LEN)
Last lennar corporation class a earnings: 3/19 06:00 am
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Source: MarketWatch
Lennar's stock set to rally after profit, revenue rise above expectations Shares of Lennar Corp. LEN, -11.58% were indicated up over 2% in premarket trading Thursday, after the home builder reported fiscal first-quarter profit and revenue that rose above expectations. The company said it was suspending its financial guidance given uncertainties surrounding the COVID-19 outbreak. Net income grew to $398.5 million, or $1.27 a share, from $239.9 million, or 74 cents a share, in the year-ago period. The FactSet consensus for earnings per share was 85 cents. Revenue increased 16.5% to $4.51 billion, above the FactSet consensus of $4.15 billion. Home deliveries rose 17% to 10,313 home, above the FactSet consensus of 9,970, while the average sales price decined 2% to $402,000, but was above expectations of $392,500. Gross margin on home sales iproved to 20.5% from 20.1%. The stock has plunged 56.1% over the past month through Wednesday, while the SPDR S&P Homebuilders ETF XHB, -10.23%
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News
- Florida company to buy Rausch Coleman Homes [Yahoo! Finance]Yahoo! Finance
- Lennar (LEN) Outperforms Broader Market: What You Need to Know [Yahoo! Finance]Yahoo! Finance
- Lennar To Acquire Rausch Coleman Homes [Yahoo! Finance]Yahoo! Finance
- Lennar To Acquire Rausch Coleman HomesPR Newswire
- Quarterra Multifamily Announces the Start of Leasing at Cordelia Apartments [Yahoo! Finance]Yahoo! Finance
LEN
Earnings
- 9/19/24 - Beat
LEN
Sec Filings
- 11/12/24 - Form SC
- 10/29/24 - Form 4
- 10/28/24 - Form 144
- LEN's page on the SEC website