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Lennar Profit Beats Estimates as Sales and Prices Rise

Lennar Corp., the second-biggest U.S. homebuilder by stock-market value, reported fiscal third-quarter earnings that beat analysts’ estimates as it sold more homes at higher prices.

Net income in the three months through August was $177.8 million, or 78 cents a share, compared with $120.7 million, or 54 cents, a year earlier, the Miami-based company said in a statement today. The average of 20 analyst estimates was for earnings of 67 cents a share, according to data compiled by Bloomberg.