Lennar, the renowned home builder, is set to release its earnings report for the fiscal fourth quarter after the market closes on Thursday. Here are the key details you need to know:
Revenue Outlook
Lennar is expected to announce a revenue of $10.22 billion for the three months ended in November. This is a slight increase compared to the reported revenue of $10.17 billion for the same period last year.
Earnings per Share
The company is forecasted to have earnings per share of $4.59, slightly higher than the $4.55 reported in the previous year.
Areas of Focus
When reviewing Lennar's earnings report, keep an eye out for the following:
Demands for New Homes: Pay close attention to any comments regarding the state of demand for new homes amidst high interest rates. Lennar recently mentioned an increase in demand as homeowners become more reluctant to sell due to expensive mortgages.
Home Prices: Investors will find the company's comments on home prices important. In the latest quarter, the average sales price of deliveries experienced a drop of 9%. Lennar primarily attributed this decline to market conditions.
Delivery Outlook: Lennar's outlook for deliveries is crucial for understanding their overall performance. The company previously stated that it expects between 21,500 and 22,500 deliveries in the fourth quarter. In terms of new orders, they anticipate a range of 16,200 to 17,200. Analysts polled by FactSet have estimated quarterly deliveries of 22,070 and new orders of 16,816.
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