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Lennar Corp. (LEN) Tops Q2 EPS by 3c

June 23, 2011 6:39 AM EDT
Lennar Corp. (NYSE: LEN) reported Q2 EPS of $0.07, $0.03 better than the analyst estimate of $0.04. Revenue for the quarter came in at $764.5 million versus the consensus estimate of $643.1 million.

Key items:
  • New orders of 3,204 homes – up 41% from Q1 2011; flat with Q2 2010

  • Cancellation rate of 17%

  • Backlog of 2,470 homes – up 27% from Q1 2011; down 1% from Q2 2010


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