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Lennar (NYSE:LEN) Reports Sales Below Analyst Estimates In Q4 Earnings, Stock Drops [Yahoo! Finance]
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Homebuilder Lennar (NYSE:LEN) missed Wall Street's revenue expectations in Q4 CY2024, with sales falling 9.3% year on year to $9.95 billion. Its GAAP profit of $4.06 per share was 2.5% below analysts' consensus estimates. Is now the time to buy Lennar? Find out in our full research report Lennar (LEN) Q4 CY2024 Highlights: Revenue: $9.95 billion vs analyst estimates of $10.11 billion (9.3% year-on-year decline, 1.7% miss) Adjusted EPS: $4.06 vs analyst expectations of $4.16 (2.5% miss) Operating Margin: 15.1%, down from 17.2% in the same quarter last year Backlog: $5.4 billion at quarter end, down 18.6% year on year Market Capitalization: $40.89 billion Stuart Miller, Executive Chairman and Co-Chief Executive Officer of Lennar, said, "In the course of our fourth quarter, the housing market that appeared to be improving as the Fed cut short-term interest rates, proved to be far more challenging as mortgage rates rose almost 100 basis points through the quarter. Even wh
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