Lennar stock rises after earnings, forecast beat

Lennar Corp. LEN shares rose in the extended session Tuesday after the homebuilder’s quarterly results and forecast topped Wall Street estimates. Lennar shares rose 3% after hours, following a 1.3% rise in the regular session to close at $100.77. The company reported fiscal first-quarter net income of $596.5 million, or $2.06 a share, compared with $503.6 million, or $1.69 a share, in the year-ago period. Revenue rose to $6.49 billion from $6.2 billion in the year-ago quarter.

69 a share, in the year-ago period. Revenue rose to $6.49 billion from $6.2 billion in the year-ago quarter. Analysts surveyed by FactSet had forecast $1.55 a share on revenue of $5.91 billion. “During the quarter, we saw a generally strong economy at the intersection of high inflation and strong employment numbers, while the housing market continued down a winding road of trying to find its footing,” said Stuart Miller, Lennar chairman, in a statement.

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