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Lennar: Fiscal 3Q Earnings Snapshot

October 3, 2018

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.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on LEN at https://www.zacks.com/ap/LEN

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