After the final chime on September 19, Lennar Corporation (LEN) is scheduled to release its third-quarter fiscal 2024 outcomes, which ended on August 31. The fiscal second quarter's revenues and earnings grew by 9% and 15%, respectively, year over year. The estimated consensus revenue figure is $9.29 billion, indicating a 6.4% increase over the $8.73 billion reported a year ago.
Lennar Q3 Earnings Forecast
Considering higher deliveries, Lennar's third-quarter fiscal residential sales are anticipated to rise from the previous year's level. The business has profited from its sound operating strategy, which prioritizes sales and production growth over cost, land-light tactics, and advantageous pricing and mix of goods.
LEN stated during the second quarter fiscal revenue that it anticipates 20,500–21,000 home deliveries with an average selling price of $420,000–$425,000. As for deliveries, the forecast for the to-be-reported period is 20,570 homes, representing an increase of 10.8% from 18,559 parts a year earlier.
Also, analysts anticipate that the delivered units' average selling price (ASP) will be $424,410, compared to $448,000 a year earlier. This decrease is due to discounting and a lower per-square-foot revenue mix than the previous year.
