Sources
Loading...
Additional media
Loading...
DeepNewz, mobile.
People-sourced. AI-powered. Unbiased News.
🏡Lennar's strong Q2 earnings highlights potential for homebuilder stocks to rally once interest rate cuts materialize. Market reaction suggests investors are cautiously optimistic about rate cuts, with companies like Lennar poised to benefit. Rebel's Edge 🏴☠️ 1pm @petenajarian… https://t.co/7wJuE6DkZz
9 key takeaways on the current state of the new housing market (from Lennar’s Q2 2024 conference call): 1. Interest rates at 6.75% drove additional demand ➡️ “interest rates started lower and felt constructive at approximately 6.75% as the market was adjusting to a new normal”
Lennar $LEN call at 11, wondering if we'll get an update on that Quarterra portfolio sale... https://t.co/Tm9o43CENK
Lennar Corporation (LEN) reported Q2 earnings with a diluted EPS of $3.45 (+15% YoY) and revenue of $8.8 billion. Despite a fall in home prices, earnings topped estimates. The price of new homes decreased from $483,000 in 2022 to $426,000. The company's in-house mortgage lender saw earnings of $146 million in Q2 2024, up from $112 million a year earlier. Investors are optimistic about potential benefits from interest rate cuts.
