Lennar Earnings Beat Analysts’ Estimates as Revenue Jumps
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Lennar Corp., the largest U.S. homebuilder by market value, reported fiscal fourth-quarter earnings that beat analysts’ estimates as revenue jumped 42 percent and profit margins climbed.
Net income for the three months through Nov. 30 rose to $124.3 million, or 56 cents a share, from $30.3 million, or 16 cents, a year earlier, the Miami-based company said today in a statement. The results included a net tax benefit of $18.6 million. The average estimate of 20 analysts in a Bloomberg survey was for earnings of 45 cents a share.