Lennar shares fall after cutting full-year delivery guidance
Lennar fell 1.54% premarket after Q3 results missed expectations and the company cut full-year delivery guidance. Q3 diluted EPS was $1.19 vs $1.29 expected; revenue was $8.0B vs $8.319B expected; net earnings fell to $284M from $591M.
Lennar Corp. NYSE:LEN fell 1.54% in premarket trading after reporting third-quarter earnings of $1.19 per diluted share on revenue of $8.0 billion, versus Wall Street expectations of $1.29 and $8.319 billion. Net earnings declined to $284 million from $591 million. New orders decreased 9% to 20,879 homes.