Lennar: Fiscal 3Q Earnings Snapshot
MIAMI (AP) _ Lennar Corp. (LEN) on Wednesday reported fiscal third-quarter profit of $453.2 million.
The Miami-based company said it had profit of $1.37 per share. Earnings, adjusted for costs related to mergers and acquisitions, were $1.40 per share.
The results beat Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $1.19 per share.
The homebuilder posted revenue of $5.67 billion in the period, which met Street forecasts.
Lennar shares have fallen 26 percent since the beginning of the year, while the Standard & Poor’s 500 index has climbed slightly more than 9 percent. The stock has declined 11 percent in the last 12 months.