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Lending The Ticker

Lennar beats estimates, posts $1.82B revenue

Raises prices, delivers more houses

house construction

Homebuilder Lennar (LEN) reported a second-quarter revenue of $1.82 billion, up from $1.43 billion a year earlier, beating analyst expectations of $1.68 billion. Per Bloomberg:

Net income was little changed at $137.7 million.

“The homebuilding recovery continued its progression at a slow and steady pace,” CEO Stuart Miller said in the statement.

The number of houses delivered by Lennar increased 12 percent to 4,987. The average sale price rose to $322,000 from $283,000 a year earlier.

Source: Bloomberg
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