U.S. Markets closed

Lennar: Fiscal 1Q Earnings Snapshot

MIAMI (AP) _ Lennar Corp. (LEN) on Wednesday reported fiscal first-quarter earnings of $239.9 million.

The Miami-based company said it had profit of 74 cents per share.

The results missed Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 75 cents per share.

The homebuilder posted revenue of $3.87 billion in the period, which also missed Street forecasts. Four analysts surveyed by Zacks expected $4.08 billion.

Lennar shares have increased 27 percent since the beginning of the year, while the Standard & Poor's 500 index has risen 12 percent. The stock has dropped 16 percent in the last 12 months.

_____

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on LEN at https://www.zacks.com/ap/LEN