Lennar Corp. (LEN.B) reported an increase in profit for its second quarter, surpassing both last year's results and Wall Street expectations.
The company's earnings for the quarter totaled $954.31 million, or $3.45 per share, up from $871.69 million, or $3.01 per share, in the same period last year.
According to data compiled by Thomson Reuters, analysts had anticipated earnings of $3.24 per share on average. These estimates generally exclude special items.
Revenue for the quarter saw an 8.8% rise, reaching $8.76 billion compared to $8.05 billion a year ago.
A summary of Lennar Corp.'s GAAP earnings for Q2:
- Earnings: $954.31 million, compared to $871.69 million last year.
- Earnings Per Share (EPS): $3.45, compared to $3.01 last year.
- Revenue: $8.76 billion, compared to $8.05 billion last year.
