Reports Q4 revenue $9.9B, consensus $10.11B. Stuart Miller, Executive Chairman and Co-Chief Executive Officer of Lennar (LEN), said, “In the course of our fourth quarter, the housing market that appeared to be improving as the Fed cut short-term interest rates, proved to be far more challenging as mortgage rates rose almost 100 basis points through the quarter. Even while demand remained strong, and the chronic supply shortage continued to drive the market, our results were driven by affordability limitations from higher interest rates.”
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on LEN:
- Lennar land spin-off filing implies ROE uplift, says Keefe Bruyette
- Notable companies reporting after market close
- Lennar options imply 5.7% move in share price post-earnings
- Lennar subsidiary files registration statement regarding planned spin-off
- Options Volatility and Implied Earnings Moves Today, December 18, 2024