Lennar: Fiscal Q2 Earnings Snapshot

·1 min read

MIAMI (AP) _ Lennar Corp. (LEN) on Wednesday reported fiscal second-quarter net income of $831.4 million.

The Miami-based company said it had profit of $2.65 per share. Earnings, adjusted for non-recurring costs, came to $2.95 per share.

The results surpassed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $2.34 per share.

The homebuilder posted revenue of $6.43 billion in the period.

Lennar shares have increased 20% since the beginning of the year, while the S&P's 500 index has increased 12%. In the final minutes of trading on Wednesday, shares hit $91.34, a rise of 43% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on LEN at https://www.zacks.com/ap/LEN

The Associated Press

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