“Lennar Corp.’s LEN -0.39% quarterly net profit surged, catapulting results way above Street estimates as the homebuilder recorded strong revenue growth buoyed by higher deliveries and prices, while orders and backlog both recorded double-digit percentage growth.
The results come as the home-building sector enters the all-important spring selling season, which has the potential to be the strongest in several years. Builders are benefiting as buyers leave the sidelines, and interest rates remain low, making owning a home more affordable than renting in many markets. Lennar—which is considered one of the sector’s strongest players by some analysts—has consistently reported double-digit revenue growth over the past several quarters amid a broad housing market recovery….”
If you enjoy the content at iBankCoin, please follow us on Twitter
