Homebuilder Lennar (NYSE:LEN) announced that profit for the fourth quarter quadrupled to $124.3 million, or 56 cents per share, versus $30.3 million, or 16 cents per share, in the same period last year. Revenue increased by $1.35 billion from $952.7 million. Analysts had expected earnings of 44 cents per share on revenue of $1.26 billion. The quarter also ended with a 4,053 home backlog, 87% higher versus the same period a year earlier.
Shares are lower in early trading.
Last month, rival KB Home (NYSE:KBH) announced that it earned $7.7 million, or 10 cents per share, versus $13.9 million or 18 cents per share, in the same period last year, while revenue increased by 21 percent to $578.2 million. 
Any ideas and opinions presented in all Market News Video clips are for informational and educational purposes
only, and do not reflect the opinions of BNK Invest, Inc. or any of its affiliates, subsidiaries or partners.
In no way should any content contained herein be interpreted to represent trading or investment advice.
None of the information contained herein constitutes a recommendation that any particular security, portfolio,
transaction, or investment strategy is suitable for any specific person. All viewers agree that under no
circumstances will BNK Invest, Inc,. its subsidiaries, partners, officers, employees, affiliates, or agents be held
liable for any loss or damage caused by your reliance on information obtained. Read Full Disclaimer.
Launch related slideshow:
Friday 5/17 Insider Buying Report: CONE, ERII
Friday 5/17 Insider Buying Report: WFR, VSTM
Thursday 5/16 Insider Buying Report: SIX, MRIN
Daily Wrap: May 17, 2013
Donaldson Shares Slip On Lowered Guidance
Daily Wrap: May 16, 2013
Analyst Moves: AMAT, ARUN, DE
Analyst Moves: NOC, GM, GILD
Analyst Moves: WSM, LTD, ADSK
Friday Sector Leaders: Education & Training Services, Auto Parts
Friday Sector Laggards: Precious Metals, Rental, Royalty Trusts
Thursday Sector Leaders: Shipping, Education & Training Services
Friday's ETF with Unusual Volume: IYK
Friday's ETF Movers: PSCM, PSAU
HYG, RUSS: Big ETF Outflows
Daily Dividend Report: AET, DV, RWT, BGS, WMB
Daily Dividend Report: SYY, VTR, HIG, ESS, XEC
Daily Dividend Report: COH, STT, WDC, KSS, DPS
Initial Jobless Claims Jump by 32k
Jobless Claims Fall to Five Year Low
Hiring Picture Improves In April
Weekly Market Wrap: May 17, 2013
Weekly Market Wrap: May 10, 2013
Weekly Market Wrap: May 3, 2013
Week Ahead Market Report: May 13, 2013
Week Ahead Market Report: May 6, 2013
Week Ahead Market Report: April 29, 2013