Lennar Corporation (LEN.B) has announced a significant increase in its third-quarter profits, surpassing both its performance from the previous year and Wall Street's expectations.
The company reported a net income of $1.162 billion, or $4.26 per share, compared to $1.108 billion, or $3.87 per share, in the same quarter last year.
According to data from Thomson Reuters, analysts had anticipated earnings of $3.63 per share on average, excluding special items.
In terms of revenue, Lennar Corp. saw a rise of 7.9%, reaching $9.416 billion, up from $8.729 billion in the previous year.
A summary of Lennar Corp.'s GAAP earnings for the third quarter is as follows:
- Net Income: $1.162 billion (up from $1.108 billion last year)
- Earnings Per Share (EPS): $4.26 (up from $3.87 last year)
- Revenue: $9.416 billion (up from $8.729 billion last year)