Lennar: strong start to FY 2021-22

(CercleFinance.com) - Lennar Corp has reported Q1 2021-22 net income that is up 61% at 831.
4 million dollars, or 2.65 dollars per share, significantly above the consensus.

The homebuilder reported a 22% increase in revenue to 6.4 billion dollars and a 56% increase in new orders by value to 7.6 billion dollars, bringing its backlog to 11 billion dollars.

High household savings rates during the pandemic, strong government stimulus measures and a gradual return to normality have supported the economy while driving the housing market to new heights, the group said.


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