Lennar Corp. Third Quarter 2012 Numbers | ||
Quarter Three | Nine Months | |
Profit/(Loss) | $87.1M +320.2% | $554.8M +796.1% |
Home Deliveries | 3,655 +27.6% | 9,359 +25.4% |
New Orders | 4,198 + 44.1% | 11,701 +39.5% |
Behind the Numbers:
Lennar CEO Stuart Miller pronounced the housing market stabilized and recovery “well underway” in its earnings report Monday. That is most certainly true for Lennar, which logged its 10th profitable quarter in a row. Sales were strong and the company has made some money from its financing division, more than making up for some losses in its Rialto unit, a distressed property division that Lennar launched during the downturn. The division helped bolster finances then, but provided a bit of a drag in this quarter.
Lennar Corp.’s third quarter ended August 31.
