Lennar: Fiscal 4Q Earnings Snapshot
MIAMI (AP) _ Lennar Corp. (LEN) on Wednesday reported fiscal fourth-quarter earnings of $674.3 million.
On a per-share basis, the Miami-based company said it had net income of $2.13.
The results topped Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $1.90 per share.
The homebuilder posted revenue of $6.97 billion in the period, also exceeding Street forecasts. Four analysts surveyed by Zacks expected $6.65 billion.
For the year, the company reported profit of $1.85 billion, or $5.74 per share. Revenue was reported as $22.26 billion.
Lennar shares have increased slightly more than 2% since the beginning of the year, while the Standard & Poor’s 500 index has increased 29%. The stock has climbed 35% in the last 12 months.