Lennar Corporation profit beats estimates as home sales riseStaff Writer | March 21, 2017
Lennar Corporation reported a higher-than-expected quarterly profit as the housing market benefited from an improving job market and rising wages.
Lennar The company sold 5,453 homes in the quarter
The Florida-based builder said it sold 5,453 homes in the quarter, compared with 4,832 homes last year. The average sales price remained flat at $365,000.
Net income attributable to Lennar shareholders fell to $130.8 million, or 56 cents per share, in the quarter from $144.1 million, or 63 cents per share, a year earlier.
Excluding items, the company earned 59 cents per share. Revenue rose to $2.34 billion from $1.99 billion. ■