Lennar Reports Second Quarter 2022 Results
FREE Breaking News Alerts from StreetInsider.com!
StreetInsider.com Top Tickers, 6/23/2026
- S&P 500, Nasdaq close lower, dragged by Alphabet and megacap tech; focus on Iran
- Oil settles down more 3% after US-Iran talks signal easing supply risks
- Micron surges 5.5% on blockbuster Anthropic AI deal ahead of earnings
- Alan Greenspan, influential former Federal Reserve chair, dies at 100
- Buy gold stocks as valuations are cheap amid macro tension: BofA
- Exclusive-China robot-hand-building unicorn Linkerbot targets $6 billion valuation
- Spain's ex-transport minister sentenced to 24 years for corruption
- Li Auto Inc. (LI) Breaks Ground on Chips R&D and Production Base
- Qtrex Quantum executives plan to buy up to 2M shares over 12 months
- China, US, UAE police arrest 276 telecom fraud suspects in Dubai
Homebuilder Lennar (LEN) Posts Strong Q2 But Warns Rate Hikes Starting to Have an Impact
June 21, 2022 6:59 AM EDTLennar Corp. (NYSE: LEN) gained 5% in pre-open trading Tuesday following strong second-quarter earnings results. However, a warning from the CEO that the homebuilder is starting to see the impact of Fed rate hikes leaves open questions for investors.
The company said net earnings in the quarter increased 69% to $4.49 per share, or $4.69, excluding mark-to-market losses on technology investments. This easily beat the Wall Street consensus of $3.98.
Deliveries increased 14% to 16,549 homes, while new orders increased 4% to 17,792 homes. The company's backlog rose 16% to 28,624 homes and the backlog dollar value increased 33% to $14.7... More
