For the quarter ended August 2024, Lennar (LEN) reported revenue of $9.42 billion, up 7.9% over the same period last year. EPS came in at $3.90, compared to $3.91 in the year-ago quarter.The reported revenue compares to the Zacks Consensus Estimate of $9.29 billion, representing a surprise of +1.35%. The company delivered an EPS surprise of +7.73%, with the consensus EPS estimate being $3.62.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectat ...

Lennar (LEN) came out with quarterly earnings of $3.90 per share, beating the Zacks Consensus Estimate of $3.62 per share. This compares to earnings of $3.91 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 7.73%. A quarter ago, it was expected that this homebuilder would post earnings of $3.20 per share when it actually produced earnings of $3.38, delivering a surprise of 5.63%.Over the last four quarters, the company has surp ...

Exhibit 99.1 Contact: Ian Frazer Investor Relations Lennar Corporation (305) 485-4129 FOR IMMEDIATE RELEASE Lennar Reports Third Quarter 2024 Results Third Quarter 2024 Highlights - comparisons to the prior year quarter • Net earnings per diluted share increased 10% to $4.26 ◦ $3.90, excluding mark-to-market gains on technology investments and one-time items in the Company's Multifamily segment • Net earnings increased 5% to $1.2 billion • New orders increased 5% to 20,587 homes • Backlog of 16,944 homes wi ...

Key TakeawaysHomebuilders shares rose after the Fed announced a 50 basis point interest rate cut Wednesday. Bank of America increased its price target for seven hombuilders by an average of 11%. Lennar will report earnings after the bell Thursday, with KB Home reporting next week. Homebuilder stocks are rising a day after the Federal Reserve kicked off its rate-cutting cycle, lowering the benchmark rate by half a percentage point. A lower federal funds rate exerts downward pressure on mortgage rates, which ...

Lennar Corporation LEN will release earnings results for its third quarter, after the closing bell on Thursday, Sept. 19.Analysts expect the Miami, Florida-based company to report quarterly earnings at $3.63 per share, down from $3.87 per share in the year-ago period. Lennar projects to report revenue of $9.16 billion for the quarter, compared to $8.45 billion a year earlier, according to data from Benzinga Pro.On June 17, Lennar reported quarterly earnings of $3.38 per share, which beat the analyst consens ...

Warren Buffett-led Berkshire Hathaway Inc.’s (BRK.B) portfolio hasn’t fared badly against the S&P 500’s return amid a higher interest rate environment. However, Buffett hopes for interest rate cuts like several market pundits as it would jack up the share price of two of his beloved housing stocks NVR, Inc. (NVR) and Lennar Corporation (LEN) . Here’s why – Freddie Mac Report: U.S. Mortgage Rates DropAccording to Freddie Mac, for the week ending Sept. 12, the 30-year fixed-rate mortgage slipped to its lowest ...

Lennar Corporation (LEN) is slated to report third-quarter fiscal 2024 results (ended Aug. 31) after the closing bell on Sept. 19. Image Source: Zacks Investment Research In the last reported quarter, the company's earnings and total revenues topped the Zacks Consensus Estimate by 5.6% and 2.2%, respectively. It is to be noted that this Miami-based homebuilder surpassed earnings expectations in the trailing 21 quarters. On a year-over-year basis, fiscal second-quarter earnings and revenues increased 15% and ...

Shares of homebuilder Lennar Corp (NYSE:LEN) are hitting record highs today, as they head for their sixth gain in the last seven days. At last glance, the stock was up 0.8% to trade at $187.47, earlier hitting a peak of $188.10. Since the start of 2024, LEN is up 25.7%. Falling mortgage rates put the housing sector in focus ahead of the U.S. Federal Reserve's interest rate decision this week, with Zillow Group (Z) receiving an upgrade earlier this morning. Lennar's earnings report is coming up too, due out ...

Analysts on Wall Street project that Lennar (LEN) will announce quarterly earnings of $3.62 per share in its forthcoming report, representing a decline of 7.4% year over year. Revenues are projected to reach $9.29 billion, increasing 6.4% from the same quarter last year.The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. This represents how the covering analysts, as a whole, have reassessed their initial estimates during this timeframe.Prior to a company's earnings annou ...

Brett_HondowThe housing market has been surprisingly strong in this interest rate cycle. The strong demand for new homes coupled with a chronic supply shortage has paved the way for homebuilders to enjoy robust sales growth, healthy margins, and improved profitability. Leading U.S. homebuilders have been the biggest winners in this cycle. Although I invested in a few homebuilders back in 2020 during the Covid crash, I distanced myself from this industry last year as I thought growth would be limited. A ...