RSS   Newsletter   Contact   Advertise with us
Post Online Media
Lennar Corporation profit beats estimates as home sales rise POST Online Media

Lennar Corporation profit beats estimates as home sales rise

Staff Writer | Tuesday March 21, 2017 7:53AM ET
Lennar Corporation
Lennar   The company sold 5,453 homes in the quarter

Lennar Corporation reported a higher-than-expected quarterly profit as the housing market benefited from an improving job market and rising wages.


Orders, a key indicator of future revenue for homebuilders, rose about 12 percent to 6,483 homes in the first quarter ended February 28.

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.

 

What to read next
POST Online Media Contact