Lennar Corp (LEN.N)
18 Apr 2019
(The march 27 story corrects company name in paragraphs 13, 16, and 18.)
* Co says market on solid footing for 2019 spring selling season
March 27 Lennar Corp, the second-largest U.S. homebuilder, on Wednesday posted a 76.1 percent jump in quarterly profit, as easing mortgage rates boosted homebuyer appetite.
U.S. homebuilder PulteGroup Inc reported its worst quarterly fall in orders since 2013 on Tuesday and said it was having to spend heavily on incentives for buyers, weakening its margins, in the face of the shakiest outlook for spring sales in years.
* Shares fall as much as 7.1 pct (Adds CEO quote, analyst comment; Updates share price)
Lennar Corp said on Wednesday it was seeing an improvement in home sales in its new fiscal year as mortgage rates start to ease and posted earnings ahead of expectations, allaying concerns of a slowdown in the broader U.S. housing market.
* Results not as bad as feared - analysts (Adds background on mortgage rates, updates shares)
Lennar Corp said it was seeing improvement in buyer traffic in the first quarter of fiscal year 2019 as interest rates begin to ease after climbing to multi-year highs in the past year.
Jan 9 Lennar Corp said it was seeing improvement in buyer traffic in the first quarter of fiscal year 2019 as interest rates begin to ease after climbing to multi-year highs in the past year.
Jan 9 Lennar Corp reported lower-than-expected quarterly home sales and orders on Wednesday, as a slowing U.S. housing market hurt demand.