Homebuilder Lennar (NYSE:LEN) will be reporting results this Wednesday after market hours. Here’s what you need to know.
Lennar missed analysts’ revenue expectations last quarter, reporting revenues of $7.94 billion, down 5.2% year on year. It was a slower quarter for the company, with a beat of analysts’ EPS estimates.
Is Lennar a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Lennar’s revenue to decline 5.7% year on year, in line with the 6.4% decrease it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. Lennar has missed Wall Street’s revenue estimates multiple times over the last two years.
With Lennar being the first among its peers to report earnings this season, we don’t have anywhere else to look to get a hint at how this quarter will unfold for industrials stocks. However, the whole sector has been hit hard over the last month as stocks in Lennar’s peer group are down 9.2% on average. Lennar is down 7.6% during the same time .
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