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Will Low Mortgage Rates Aid Lennar’s (LEN) Q3 Earnings?

Lennar Corporation LEN is slated to report results for third-quarter fiscal 2020 (ended Aug 31) after the closing bell on Sep 14.

In the last reported quarter, the company’s earnings topped the Zacks Consensus Estimate by 27.9% but revenues missed the same by 0.03%. Notably, this Miami-based homebuilder surpassed earnings expectations in nine of the trailing 10 quarters.

On a year-over-year basis, earnings grew 27%. The results mainly benefited from effective cost control and focus on making its homebuilding platform more efficient, which in turn resulted in higher operating leverage. However, revenues decreased 5% due to lower average sales price or ASP of homes delivered.

Lennar Corporation Price and EPS Surprise

Lennar Corporation Price and EPS Surprise

Lennar Corporation price-eps-surprise | Lennar Corporation Quote

Trend in Estimate Revision

For the quarter to be reported, the Zacks Consensus Estimate for earnings per share has been unchanged at $1.51 over the past 60 days. The estimated figure indicates

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Continue Reading Will Low Mortgage Rates Aid Lennar’s (LEN) Q3 Earnings?