Lennar Corp. shares rose in the extended session Wednesday after the homebuilder’s quarterly results and raised forecast topped Wall Street estimates. Lennar...
Lennar Corp. LEN shares rose in the extended session Wednesday after the homebuilder’s quarterly results and raised forecast topped Wall Street estimates. Lennar shares rose 3% after hours, following a 1.1% decline in the regular session to close at $114.75. The company reported fiscal second-quarter net income of $871.7 million, or $3.01 a share, compared with $1.32 billion, or $4.49 a share, in the year-ago period. Revenue fell to $8.05 billion from $8.36 billion in the year-ago quarter.
32 billion, or $4.49 a share, in the year-ago period. Revenue fell to $8.05 billion from $8.36 billion in the year-ago quarter. Analysts surveyed by FactSet had forecast $2.33 a share on revenue of $7.22 billion. “During the quarter, we continued to see the housing market normalize and recover from the Fed’s 2022 aggressive interest-rate hikes in response to elevated inflation,” said Stuart Miller, Lennar chairman, in a statement.
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