MIAMI (AP) — MIAMI (AP) — Lennar Corp. (LEN) on Tuesday reported fiscal first-quarter profit of $596.5 million.
The Miami-based company said it had profit of $2.06 per share. Earnings, adjusted for non-recurring costs, were $2.12 per share.
The results surpassed Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $1.56 per share.
The homebuilder posted revenue of $6.49 billion in the period, also topping Street forecasts. Five analysts surveyed by Zacks expected $6 billion.
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, source Associated Press News