FBR Capital Reiterates Outperform Following Lennar Corp.'s (LEN) 1Q EPS Beat
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Lennar Reports First Quarter EPS of $0.63
March 29, 2016 6:00 AM EDTMIAMI, March 29, 2016 /PRNewswire/ --
Net earnings of $144.1 million, or $0.63 per diluted share, compared to net earnings of $115.0 million, or $0.50 per diluted share Deliveries of 4,832 homes up 12% New orders of 5,794 homes up 10%; new orders dollar value of $2.1 billion up 15% Backlog of 7,670 homes up 13%; backlog dollar value of $2.8 billion up 19% Revenues of $2.0 billion up 21% Lennar Homebuilding operating earnings of $220.6 million, compared to $207.6 million up 6% Gross margin on home sales of 22.7%, compared to 23.1% in Q1 2015 S,G&A expenses as a % of revenues... More