Lennar Fiscal Q4 Results Top Street Estimates

Lennar, a homebuilding company, reported Monday fiscal Q4 net income of $1.34 per share, up from $1.21 per share in the prior year period and higher than the $1.27 per share Street estimate provided by Capital IQ.

Total revenues for the quarter ended Nov. 30 were $3.38 billion, up from $2.95 billion reported for the same period last year and higher than the $3.31 billion Street estimate.

“With the anticipation of a new president focusing on accelerating economic growth, we believe that our fortified balance sheet, our diversified business model and our refined product offerings, will continue to hold us in good stead in a high-growth economy, despite the potential of moderately rising interest rates over the next several years,” CEO Stuart Miller said. “With our strong balance sheet and a sales backlog dollar value of $2.9 billion, we are well positioned as we enter 2017.”