Lennar Beats On Earnings, Orders Remain Strong
Lennar Corporation (LEN) is one of the leading home-builders in the U.S. With overall housing market recovering at a slow but steady pace, Lennar’s order trends have been improving at a consistent pace.
Lennar is performing well on the back of its diverse revenue mix, large land supply, above average order growth, better pricing power and consistently strong profit margins. Moreover, Lennar’s ancillary platforms — Rialto, Multi-Family, FivePoint and Financial Services — are evolving and are expected to contribute meaningfully from 2015/2016.
Investors should also note that earnings estimate for LEN has been steady for sometime. However, LEN has been posting positive earnings surprise for the past four quarters in a row, with an average surprise of 14.36%.
Currently, LEN has a Zacks Rank #3 (Hold), but that could definitely change following Lennar’ earnings report which was just released. We have highlighted some of the key stats from this just-revealed announcement below:
Earnings: LEN beat on earnings. Our consensus earnings estimate called for EPS of $0.65/share, and the company reported EPS of $0.79 instead. Investors should note that these figures take out stock option expenses.
Revenues : LEN reported revenues of $2.39 billion. This surpassed our consensus estimate of $2.05 billion.
Key Stats to Note: Order value increased 28% in the quarter.
Disclosure: more
actualy your picture should be of a nice multi unit =that's where they are betting. single family home going the way of the dodo bird. our standard of living is slowly ebbing into third world status. millies are not stepping up to the plate. They are committment phobic and saw their parents suffer thru the last crisis. They are spooked angry and frustrated because owning a home will always gnaw at them.