-=Lennar (LEN) reported earnings on Wed 27 March 19 (b/o)

Lennar misses by $0.02, misses on revs

• Reports Q1 (Feb) earnings of $0.74 per share, excluding non-recurring items, $0.02 worse than the S&P Capital IQ Consensus of $0.76; total revenues rose 29.8% year/year to $3.87 bln vs the $4.1 bln S&P Capital IQ Consensus.
• New home deliveries, excluding unconsolidated entities, increased to 8,802 homes in the first quarter of 2019 from 6,734 homes in the first quarter of 2018, primarily as a result of the significant increase in volume resulting from the CalAtlantic acquisition. The average sales price of homes delivered was $410,000 in the first quarter of 2019, compared to $393,000 in the first quarter of 2018.