Lennar Corporation, a prominent homebuilder, is scheduled to release its fiscal third-quarter results after the market closes on Thursday. The following key details are important to keep in mind:
Net Income
Analysts surveyed by FactSet anticipate Lennar to report a profit of $1 billion, compared to $1.46 billion in the previous year.
Revenue
FactSet projects Lennar to post revenue of $8.49 billion, a decrease from $8.93 billion in the same period last year.
Adjusted Earnings
The company is expected to report adjusted earnings of $3.52, aligning with Lennar’s own forecast range of $3.35 to $3.50 per share.
Key Points to Observe
A few essential aspects to pay attention to in Lennar’s third-quarter results include:
Demand
The increase in mortgage rates has led to a surge in demand for homebuilders. Homeowners are now contemplating the affordability of new mortgages, resulting in fewer property listings. The upcoming results will reveal how much the rising rates have contributed to Lennar’s growth.
Average Price
Though Lennar house prices have slightly declined from their peak in 2022, they remain higher than historical levels. An analysis of the latest results will provide insights into how these prices are holding up given the current interest rate environment.