Shares of homebuilder Lennar Corp (NYSE:LEN) are down 2.2% at $153.10, despite the company beating fiscal second-quarter earnings and revenue estimates.
U.S. stock futures were mixed this morning, with the Nasdaq futures gaining around 0.2% on Tuesday.
Lennar (LEN) shares dropped more than 2% in extended trading on Monday after the homebuilder's delivery forecast outweighed quarterly results that came in ahead of Wall Street expectations.
Although the revenue and EPS for Lennar (LEN) give a sense of how its business performed in the quarter ended May 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 $3.38 per share, beating the Zacks Consensus Estimate of $3.20 per share. This compares to earnings of $2.94 per share a year ago.
Lennar Corp (NYSE: LEN) is trading down in extended hours on Wednesday even though it reported better-than-expected financial results for its second quarter. Lennar's guidance for the third quarter Investors are concerned because the guidance failed to impress.
CNBC's Jim Cramer on Friday guided investors through next week's most important happenings on Wall Street, including earnings reports from homebuilders Lennar and KB Home. He said that the housing sector can be the "linchpin" of the economy.
Lennar's (LEN) fiscal second-quarter performance is likely to have reflected higher deliveries amid flat gross margin and higher SG&A expenses.
Lennar Corporation LEN will release earnings results for its second quarter, after the closing bell on Monday.
The latest trading day saw Lennar (LEN) settling at $155, representing a +1.82% change from its previous close.
Get a deeper insight into the potential performance of Lennar (LEN) for the quarter ended May 2024 by going beyond Wall Street's top -and-bottom-line estimates and examining the estimates for some of its key metrics.
Lennar Corporation is set to report its Q2 earnings next week. The company's financials have shown a recovery in revenues and a slight dip in margins. Uncertainty remains due to potential interest rate cuts and a decline in existing home sales, leading to a hold rating on the stock.