Lennar(US:LEN) Investopedia·2024-09-20 17:10Group 1 - Lennar Corporation reported fiscal third-quarter results that exceeded expectations for both revenue and earnings, with revenue growing 9% year-over-year to $9.4 billion and earnings per diluted share rising to $4.26 [1][2] - The company guided for no quarter-over-quarter growth in gross margin on home sales, expecting it to remain flat at 22.5%, which is below analyst consensus [1][2] - New home orders are projected to be between 19,000 and 19,300, with an average sales price of $425,000, aligning with market estimates [1] Group 2 - CEO Stuart Miller highlighted a favorable environment for homebuilders, citing strong employment, chronic housing supply shortages, and solid demand driven by household formation [2] - Despite the positive economic backdrop, Lennar's shares fell by 4% in recent trading, reflecting investor concerns over the guidance provided [2]