Tuesday, January 15, 2013 7:28:00 AM
Lennar Q4 Profit Tops View As Market Recovers
Down PM, but the day is long. Then again, could be the market had priced in these results.
Home-builder Lennar Corp. (LEN: Quote,LEN.B) reported Tuesday that its fourth-quarter profit more than quadrupled with higher deliveries and sale prices, reflecting the recovery in housing. Both earnings per share and revenues topped market estimates. Looking ahead, the company projects that fiscal 2013 promises to be another year of strong profitability.
For the fourth quarter, net earnings attributable to the company surged to $124.34 million or $0.56 per share from last year's $30.28 million or $0.16 per share.
On average, 24 analysts polled by Thomson Reuters expected earnings of $0.44 per share for the quarter. Analysts' estimates typically exclude one-time items.
Revenues climbed 42 percent to $1.35 billion from $952.65 million a year before. Analysts estimated revenues of $1.31 billion for the quarter.
Down PM, but the day is long. Then again, could be the market had priced in these results.
Home-builder Lennar Corp. (LEN: Quote,LEN.B) reported Tuesday that its fourth-quarter profit more than quadrupled with higher deliveries and sale prices, reflecting the recovery in housing. Both earnings per share and revenues topped market estimates. Looking ahead, the company projects that fiscal 2013 promises to be another year of strong profitability.
For the fourth quarter, net earnings attributable to the company surged to $124.34 million or $0.56 per share from last year's $30.28 million or $0.16 per share.
On average, 24 analysts polled by Thomson Reuters expected earnings of $0.44 per share for the quarter. Analysts' estimates typically exclude one-time items.
Revenues climbed 42 percent to $1.35 billion from $952.65 million a year before. Analysts estimated revenues of $1.31 billion for the quarter.
The best place for big board plays: GoodFellas $tock Mafia Plays
Volume penny stock plays: Decent plays
Join the InvestorsHub Community
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
