Inside LEN’s Results
LEN reported earnings of $114.96 million, or 50 cents per share, compared to $78.12 million, or 35 cents per share, last year. On average, analysts expected to see EPS of 45 cents.
The company reported a 21% increase in quarterly sales to $1.64 billion. Analysts expected to see $1.50 billion in revenue.
Sales Surge As The Housing Market Recovers
The company also reported that new orders placed in Q1 rose 18% – which is good news for the financial prospects of future quarters.
As the housing market continues to recover, homebuilders like Lennar have been boosting incentives in order to increase sales.
Mutual Funds to Watch
|VMCIX||Vanguard Mid Cap||1.51%|
The Bottom Line
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