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Stock Market & Financial Investment News

News Breaks
March 20, 2014
06:09 EDTLENLennar reports Q1 EPS 35c, consensus 28c
Reports Q1 revenue $1.36B, consensus $1.28B. Q1 EPS included a $45.9M tax provision. Reports Q1 home deliveries up 13% to 3,609 homes. Reports Q1 new orders up 10% to 4,465 homes. Reports Q1 new orders dollar value of $1.5B. Reports Q1-end backlog up 15% to 5,662 homes. Stuart Miller, CEO of Lennar, said, "We are extremely pleased with our operating results in Q1. Despite harsh weather conditions that impacted sales and construction during the quarter in some of our markets, we were able to achieve healthy year over year increases in both new orders and deliveries. Additionally, an 18% increase in average sales price and continued momentum from our land acquisition strategy drove gross and operating margin increases by over 300 basis points to 25.1% and 13.2%, respectively, the highest first quarter gross and operating margin in the company's history."
News For LEN From The Last 14 Days
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October 20, 2014
07:51 EDTLENLennar initiated with a Buy at Buckingham
Target $50.

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