Bullet points of This S&P 500 Stock Falls On Earnings Despite Expected Tailwind From Fed Rate Cuts
Bullet points of This S&P 500 Stock Falls On Earnings Despite Expected Tailwind From Fed Rate Cuts
- 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.
- 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.