Lennar Corp, a US homebuilder, exceeded Q1 profit expectations with earnings per share at $2.57, above the estimated $2.23. Despite revenue slightly below estimates at $7.31 billion compared to $7.388 billion, the company saw a 25% year-over-year increase in diluted EPS. Lennar attributed its success to sustained demand for new homes amid historically low existing home supply. However, the company experienced a 7.6% drop in its shares, the largest decline since September 2022.
*LENNAR SHARES FALL 7.6% IN BIGGEST DROP SINCE SEPTEMBER 2022
$LEN "inflationary pressures have driven traditional cost-of-living expenses higher over the past two years, which has made saving for a down payment increasingly difficult. Higher prices have also started to lead to increased personal and credit card debt, as as families…
$LEN (-2.7% pre) Lennar (LEN) Q1 Earnings: Taking a Look at Key Metrics Versus Estimates https://t.co/7zwjxHrlpp
Lennar Corp $LEN Earnings: - Diluted EPS of $2.57 (+25% YoY) - Revenue of $7.31 billion Stuart Miller, Executive Chairman and Co-Chief Executive Officer of Lennar, said, “We are pleased to report another strong quarter as we remained focused on consistent production pace… https://t.co/nD4OFBbf3w
US homebuilder Lennar beats Q1 profit estimates amid sustained demand for new homes https://t.co/um0ruDyDBy https://t.co/sZ1xhzNoEq
Shelter costs/inflation - it's not apples-to-apples by any means, but $LEN had selling prices in FQ1 that fell 8% as the company ramped discounting (vs. the shelter component of the recent CPI which was up 5.7% Y/Y)
US homebuilder Lennar beats Q1 profit estimates on higher home deliveries https://t.co/RWWCIMYNHv https://t.co/zWudf8grWu
⚠️ US HOMEBUILDER LENNAR BEATS Q1 PROFIT ESTIMATES ON HIGHER HOME DELIVERIES Full Story → https://t.co/EH8TM0VCU4 Lennar Corp reported first-quarter profits above Wall Street estimates on Wednesday, as historically low existing home supply led to sustained demand for new home… https://t.co/YLFUBSydtF
I’m sure it’s happened, but I can’t recall a big homebuilder missing revenue estimates in awhile: *LENNAR 1Q REV. $7.31B, EST. $7.42B
$LEN | Lennar Q1 Earnings: - EPS $2.57 (Est. $2.23) 🟢 - Sales $7.310B (Est. $7.388B) 🔴 - Sees Q2 New Orders 20,900-21,300 https://t.co/uoPBQU68DW