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Lennar: Q1 EPS up 32%

(CercleFinance.com) - On Wednesday evening Lennar Corp reported adjusted net profit of 800.
2 million dollars for Q1 2021-22, with EPS up 32% at 2.70 dollars, on revenues that rose by 16% to 6.2 billion dollars.

Delivery volumes edged up 2% to 12,538 homes, with a gross margin of 26.9% for residential construction. Meanwhile, new orders increased 1% to 15,747 homes.

For the full year, Lennar expects to deliver around 68,000 homes (compared with the previous forecast of 67,000), along with a gross margin for residential construction of 27.25% to 28% (slightly higher than its previous forecast of 27% to 27.5%).



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