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*LENNAR SHARES FALL 7.6% IN BIGGEST DROP SINCE SEPTEMBER 2022
$LEN "inflationary pressures have driven traditional cost-of-living expenses higher over the past two years, which has made saving for a down payment increasingly difficult. Higher prices have also started to lead to increased personal and credit card debt, as as families…
$LEN (-2.7% pre) Lennar (LEN) Q1 Earnings: Taking a Look at Key Metrics Versus Estimates https://t.co/7zwjxHrlpp
Lennar Corp, a US homebuilder, exceeded Q1 profit expectations with earnings per share at $2.57, above the estimated $2.23. Despite revenue slightly below estimates at $7.31 billion compared to $7.388 billion, the company saw a 25% year-over-year increase in diluted EPS. Lennar attributed its success to sustained demand for new homes amid historically low existing home supply. However, the company experienced a 7.6% drop in its shares, the largest decline since September 2022.