Brian Vendig, president of MJP Wealth Advisors, joins CNBC's 'Power Lunch' to discuss three stocks: Nike, Fedex, and Lennar.
Lennar Corporation (NYSE:LEN ) Q3 2024 Earnings Conference Call September 20, 2024 11:00 AM ET Company Participants David Collins - Vice President & Controller Stuart Miller - Executive Chairman & Co-Chief Executive Officer Jon Jaffe - Co-Chief Executive Officer & President Diane Bessette - Chief Financial Officer Conference Call Participants Alan Ratner - Zelman & Associates Stephen Kim - Evercore ISI Susan Maklari - Goldman Sachs Michael Rehaut - JPMorgan Trevor Allinson - Wolfe Research John Lovallo - UBS Operator Thank you for standing by, and welcome to Lennar's Third Quarter Earnings Conference Call. At this time, all participants are in a listen-only mode.
Lennar (LEN) shares dropped Friday despite stronger-than-expected quarterly results as the homebuilder's guidance left investors uninspired.
LEN's third-quarter fiscal 2024 results reflect higher deliveries and orders. Yet, lower home prices and gross margins ail the bottom line.
Although the revenue and EPS for Lennar (LEN) give a sense of how its business performed in the quarter ended August 2024, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.
Lennar (LEN) came out with quarterly earnings of $3.90 per share, beating the Zacks Consensus Estimate of $3.62 per share. This compares to earnings of $3.91 per share a year ago.
Homebuilder stocks are rising a day after the Federal Reserve kicked off its rate-cutting cycle, lowering the benchmark rate by half a percentage point.
Lennar Corporation LEN will release earnings results for its third quarter, after the closing bell on Thursday, Sept. 19.
Homebuilder stocks are hitting new highs as anticipation builds ahead of the Federal Reserve's upcoming rate cut decision. Both Lennar Corp LEN and PulteGroup, Inc. PHM surged to 52-week highs on Sept.
A steady decline in mortgage rates on interest rate cut expectations would boost the stock price of Warren Buffett's beloved housing stocks NVR and Lennar.
LEN's fiscal third-quarter performance is likely to have reflected higher deliveries amid lower gross margin and higher SG&A expenses.