Lennar Corporation (NYSE: LEN) reported second-quarter earnings of $1.30 per share, which beat the analyst consensus estimate of $1.14. This is a 17.72% decrease over earnings of $1.58 per share from the same period last year.
Lennar reported quarterly sales of $5.6 billion, which beat the analyst consensus estimate of $5.1 billion. This is a 2.58% increase over sales of $5.459 billion the same period last year.
"Our second quarter results benefited from both first quarter deliveries postponed by weather as well as a recovering housing market." said Stuart Miller, Executive Chairman of Lennar. "The well-documented market pause in the second half of 2018 set the stage for more moderate home price increases and lower interest rates which stimulated both affordability and demand, leading homebuyers back to the market."
Lennar shares traded higher by 4.6% at $53.80 in Tuesday's pre-market session. The stock has a 52-week range between $55.77 and $37.29
7 Stocks To Watch For June 25, 2019
As Anticipation Firms For Trump/Xi Meeting, Focus Is On Earnings, Iran Tensions
See more from Benzinga
- AbbVie To Acquire Allergan In B Deal
- PizzaRev Partners With Beyond Meat For New Topping Option
- VivoPower Shares Rise More Than 100% After Update On Solar Portfolio Sale, New Contracts
© 2019 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.