Related News
Home » Business » Real Estate
Strong deliveries lift Lennar Q3 profit
By A.Ananthalakshmi |
September 21, 2010, Tuesday
|
Print Edition
Print Edition
LENNAR Corp, the third-largest United States home builder, posted a better-than-expected third-quarter profit as deliveries jumped.
However, Lennar said new orders during the period fell 15 percent to 2,624 homes, and that expiration of a home buyer tax credit hurt sales.
For the June-August quarter, Lennar posted earnings of US$30 million, or 16 cents a share, compared with a loss of US$171.6 million, or 97 cents per share, a year ago.
Revenue rose 14 percent to US$825.0 million, as deliveries jumped 10 percent to 2,950 homes.
Analysts were expecting a profit of 6 cents a share on revenue of US$777.5 million, according to Thomson Reuters I/B/E/S.
Lennar and other home builders had benefited from a federal tax credit, but the credit expired in April.
However, Lennar said new orders during the period fell 15 percent to 2,624 homes, and that expiration of a home buyer tax credit hurt sales.
For the June-August quarter, Lennar posted earnings of US$30 million, or 16 cents a share, compared with a loss of US$171.6 million, or 97 cents per share, a year ago.
Revenue rose 14 percent to US$825.0 million, as deliveries jumped 10 percent to 2,950 homes.
Analysts were expecting a profit of 6 cents a share on revenue of US$777.5 million, according to Thomson Reuters I/B/E/S.
Lennar and other home builders had benefited from a federal tax credit, but the credit expired in April.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证：沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证：31120180004
- |
- 网络视听许可证：0909346
- |
- 广播电视节目制作许可证：沪字第354号
- |
- 增值电信业务经营许可证：沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
