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Lennar: Fiscal 4Q Earnings Snapshot

January 9, 2019

MIAMI (AP) _ Lennar Corp. (LEN) on Wednesday reported fiscal fourth-quarter profit of $796.1 million.

The Miami-based company said it had net income of $2.42 per share. Earnings, adjusted for one-time gains and costs, came to $1.96 per share.

The results surpassed Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $1.91 per share.

The homebuilder posted revenue of $6.46 billion in the period, falling short of Street forecasts. Four analysts surveyed by Zacks expected $6.53 billion.

For the year, the company reported profit of $1.7 billion, or $5.44 per share. Revenue was reported as $20.57 billion.

Lennar shares have increased almost 10 percent since the beginning of the year, while the Standard & Poor’s 500 index has risen roughly 3 percent. The stock has decreased 36 percent in the last 12 months.

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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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