Replies to post #464665 on Zeev's Turnips Patch-No Politics (ZEEV)

[madrose1]

06:10 LEN Lennar beats by $0.03; reaffirms FY06 EPS guidance (60.32 )

Reports Q1 (Feb) earnings of $1.58 per share, $0.03 better than the Reuters Estimates consensus of $1.54; revenues rose 34.7% year/year to $3.24 bln vs the $3.02 bln consensus. Co reaffirms FY06 guidance, sees EPS of $9.25 vs. $9.28 consensus. "While there has been a slower sales pace in certain markets in which we operate and price appreciation in these markets has moderated relative to the appreciation experienced in the past few years, we were still able to achieve a 4% increase in new orders during the first quarter. We are focused on maintaining a sales pace that supports our current and planned inventory levels, and we believe that our intense focus on asset management and our homebuilding manufacturing process will set the foundation to achieve a more evenflow production of home deliveries... Given our strong balance sheet liquidity, we are well positioned for organic growth as well as strategic growth opportunities as they arise."