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Will Lennar's stock price increase after Q4 2024 earnings report?
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Story
Lennar Exceeds Q3 2024 Earnings Estimates with EPS $4.26, Reports Strong Revenue Growth, Stock Down 2%
Sep 19, 2024, 08:44 PM
Lennar Corporation reported strong financial results for Q3 2024, surpassing market expectations. The company achieved an earnings per share (EPS) of $4.26, significantly higher than the estimated $3.62. Adjusted EPS was $3.90, above the consensus of $3.63. Total revenue for the quarter was $9.42 billion, exceeding the forecasted $9.21 billion. Despite the earnings beat, Lennar's stock fell by 2% in post-market trading due to disappointing margins and margin outlook. The company also reported a 5% increase in net earnings to $1.2 billion and a 16% rise in home deliveries to 21,516 units. New orders for the quarter increased by 5% to 20,587 homes. Lennar's Q4 outlook includes new orders ranging from 19,000 to 19,300 and deliveries between 22,500 to 23,000 homes.
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