5 Stocks Under Investors’ Radar After Releasing their Earnings Reports

4. Lennar Corporation (NYSE:LEN)

Number of Hedge Fund Holders: 50

Lennar Corporation (NYSE:LEN) is a leading homebuilder in the United States. It recently announced mixed financial results for its fiscal third quarter ended 31 August 2021. The company reported earnings of $4.52 per share, more than doubled from $2.12 per share in the year-ago quarter.

Revenue came in at $6.9 billion, compared to $5.9 billion in the same period last year. Analysts were expecting Lennar Corporation (NYSE:LEN) to report earnings of $3.26 per share on revenue of $7.1 billion. Home deliveries in the quarter rose 10 percent to 15,199, while gross margin on home sales improved to 27.3 percent.

Speaking on the results, CEO Stuart Miller said:

“During the third quarter, our company and the homebuilding industry as a whole continued to experience unprecedented supply chain challenges which we believe will continue into the foreseeable future. As a result, our third quarter deliveries of 15,199 homes were about 600 homes below the low end of our guidance. Additionally, we are adjusting our fourth quarter delivery guidance to, more or less, 18,000 homes, reflecting this supply chain constraint.”