Lennar beats by $0.11, beats on revs
Reports Q4 (Nov) earnings of $0.73 per share, $0.11 better than the Capital IQ Consensus Estimate of $0.62; revenues rose 41.8% year/year to $1.92 bln vs the $1.88 bln consensus.
Key metrics:
Key metrics:
- Deliveries of 5,650 homes; +27%
- New orders of 4,498 homes; +13%; New orders dollar value of $1.4 bln +34%
- Backlog of 4,806 homes; +19%; backlog dollar value of $1.6 bln +40%
- Gross margin on home sales of 26.8% -- improved 330 basis points