Lennar: EPS up 25% in Q1

(CercleFinance.com) - For the first three months of its 2023-24 fiscal year, Lennar Corp reported EPS up 25% to $2.
57, as well as operating income of $1 billion for its homebuilding activities.

Revenues from home sales rose 13% to $6.9 billion, due to a 23% increase in the number of homes delivered, partially offset by an 8% drop in the average selling price.

New orders rose by 28% to 18,176 homes, for a value up 21% to $7.7 billion, bringing Lennar's backlog to 16,270 homes worth $7.4 billion.

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