Summary of This S&P 500 Stock Falls On Earnings Despite Expected Tailwind From Fed Rate Cuts
Summary of This S&P 500 Stock Falls On Earnings Despite Expected Tailwind From Fed Rate Cuts
Lennar (LEN) reported a 10% increase in Q3 earnings per share and an 8% rise in revenue. Home deliveries rose by 16%, but the average sales price per home fell by 6% compared to last year due to increased discounts. Lennar's stock dropped 3.5% after the earnings release. The Federal Reserve's recent rate cut is expected to boost the real estate and housing market, potentially leading to higher profits for homebuilders like Lennar. Overall, Lennar projects delivering 22,500-23,000 homes in Q4, with an average price of $425,000 per home.
quoting nevent1q…c02tThis S&P 500 Stock Falls On Earnings Despite Expected Tailwind From Fed Rate Cuts
https://www.investors.com/news/sp-500-stock-lennar-earnings-fed-rate-cut-tailwind/?src=A00220&yptr=yahoo
Lennar (LEN) reported a 10% increase in Q3 earnings per share and an 8% rise in revenue. Home deliveries rose by 16%, but the average sales price per home fell by 6% compared to last year due to increased discounts. Lennar's stock dropped 3.5% after the earnings release. The Federal Reserve's recent rate cut is expected to boost the real estate and housing market, potentially leading to higher profits for homebuilders like Lennar. Overall, Lennar projects delivering 22,500-23,000 homes in Q4, with an average price of $425,000 per home.