Lennar Corp. (LEN) posted third-quarter earnings that beat analysts’ estimates as demand for new homes strengthens, an article in Bloomberg said.
The article said that net income for the three months through August was $223.3 million, or 96 cents a share, compared with $177.8 million, or 78 cents, a year earlier.
Meanwhile, the average estimate of 11 analysts was for earnings of 79 cents a share, the Bloomberg article said.
“The new-home and rental markets continued to have significant pent-up demand, which positions us well for years to come,” CEO Stuart Miller said in the statement. “While our homebuilding business continues to be the primary driver of our quarterly earnings, we are in an excellent position across our multiple platforms.”
