Lennar Corporation Earnings Cheat Sheet: Stock Pops 2% on In-Line EPS

S&P 500 (NYSE:SPY) component Lennar Corporation (NYSE:LEN) reported its results for the third quarter. Lennar Corp. builds affordable, move-up and retirement homes primarily under the Lennar brand name throughout the United States.

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Lennar Earnings Cheat Sheet for the Third Quarter

Results: Net income for the residential construction company fell to $20.7 million (11 cents per share) vs. $30 million (16 cents per share) a year earlier. This is a decline of 31.1% from the year earlier quarter.

Revenue: Fell 0.6% to $820.2 million from the year earlier quarter.

Actual vs. Wall St. Expectations: LEN fell in line with the mean analyst estimate of 11 cents per share. It beat the average revenue estimate of $643.1 million.

Key Stats:

Revenue has fallen in the past four quarters. Revenue declined 6.1% to $764.5 million in the second quarter. The figure fell 2.9% in the first quarter from the year earlier and dropped 5.9% in the fourth quarter of the last fiscal year from the year-ago quarter.

The company fell in line with estimates last quarter after beating forecasts in the previous quarter with net income of 7 cents versus a mean estimate of net income of 4 cents per share.

Competitors to Watch: PulteGroup, Inc. (NYSE:PHM), KB Home (NYSE:KBH), D.R. Horton, Inc. (NYSE:DHI), Standard Pacific Corp. (NYSE:SPF), Meritage Homes Corporation (NYSE:MTH), Toll Brothers, Inc. (NYSE:TOL), M.D.C. Holdings, Inc. (NYSE:MDC), Orleans Homebuilders (OHBIQ), The Ryland Group, Inc. (NYSE:RYL), and Comstock Homebuilding Companies, Inc. (NASDAQ:CHCI).

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(Source: Xignite Financials)

 

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