Shares of Lennar (LEN) are trading lower in Tuesday’s after-hours trading, despite the homebuilder delivering a beat in its second-quarter earnings. The company reported revenue of $8.77 billion, surpassing analyst estimates of $8.57 billion, while also exceeding expectations on the adjusted earnings per share front, with a figure of $3.38 per share surpassing the anticipated $3.24.
However, Lennar sounded a cautionary note, highlighting continued pressure stemming from the prevailing mortgage rate environment.
Yahoo Finance’s Dani Romero breaks down the details of Lennar’s earnings report, providing insights into what it means about the state of the consumer and the broader housing market.
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