April 4, 2018 / 10:17 AM / 4 months ago

BRIEF-Lennar Q1 Earnings Per Share $0.53

April 4 (Reuters) - Lennar Corp:

* Q1 EARNINGS PER SHARE $0.53

* Q1 REVENUE $3.0 BILLION VERSUS I/B/E/S VIEW $2.65 BILLION

* Q1 EARNINGS PER SHARE VIEW $0.77 — THOMSON REUTERS I/B/E/S

* UP 24%, INCLUDING 819 HOMES FROM ACQUIRED CALATLANTIC COMMUNITIES

* EARNINGS IN Q1 REDUCED BY $104.2 MILLION OF PRETAX ACQUISITION AND INTEGRATION COSTS RELATED TO ACQUISITION OF CALATLANTIC GROUP INC

* CASH WRITE DOWN OF DEFERRED TAX ASSETS DUE TO REDUCTION IN FEDERAL CORPORATE INCOME TAX RATE

* “CONTINUE TO REMAIN POSITIVE ON OUTLOOK OF HOUSING INDUSTRY IN GENERAL”

* QTRLY GROSS MARGIN ON HOME SALES OF 19.5% COMPARED TO 21.1%

* ENGAGED WELLS FARGO SECURITIES, DEUTSCHE BANK SECURITIES TO ADVISE ABOUT STRATEGIC ALTERNATIVES

* AVERAGE SALES PRICE OF HOMES DELIVERED WAS $393,000 IN Q1 OF 2018, COMPARED TO $365,000 IN Q1 OF 2017

* ENGAGED ADVISERS FOR STRATEGIC ALTERNATIVES THAT MAY BE AVAILABLE REGARDING UNIT RIALTO CAPITAL MANAGEMENT Source text for Eikon: Further company coverage:

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