More on Lennar (LEN) FQ1: Net income profit jumps nearly three-fold to $57.5M, with rock-bottom...
Wednesday, March 20, 9:09 AM ETMore on Lennar (LEN) FQ1: Net income profit jumps nearly three-fold to $57.5M, with rock-bottom interest rates, "attractive home prices" and increasing rents boosting sales. Delivers 3,186 homes with an average price of $269K vs 2,482 homes at $246K a year earlier. Backlog $1.5B, new orders +34% to 4,055 homes. Gross margin falls to 22.1% from 23.5% in FQ4 but is still the biggest margin among Lennar's major peers. Shares +1.2%.
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