Lennar: Q3 EPS up 10%
(CercleFinance.com) - Lennar Corp reports Q3 2023-24 EPS up 10% to $4.
26 ($3.90 excluding special items), as well operating profit of $1.5bn for its homebuilding business. NB pmt -3%.
Revenues from home sales rose 9% to $9bn, driven by a 16% increase in the number of homes delivered, albeit partially offset by a 6% decline in the average selling price.
New orders rose by 5% to nearly 20,600 homes, and Lennar's backlog at the end of August stood at just over 16,900 homes worth $7.7bn.
The economic environment remains very constructive for homebuilders, judges company boss Stuart Miller, pointing to vigorous employment, a chronic shortage of housing supply and solid demand.
Copyright (c) 2024 CercleFinance.com. All rights reserved.
26 ($3.90 excluding special items), as well operating profit of $1.5bn for its homebuilding business. NB pmt -3%.
Revenues from home sales rose 9% to $9bn, driven by a 16% increase in the number of homes delivered, albeit partially offset by a 6% decline in the average selling price.
New orders rose by 5% to nearly 20,600 homes, and Lennar's backlog at the end of August stood at just over 16,900 homes worth $7.7bn.
The economic environment remains very constructive for homebuilders, judges company boss Stuart Miller, pointing to vigorous employment, a chronic shortage of housing supply and solid demand.
Copyright (c) 2024 CercleFinance.com. All rights reserved.