Lennar Corp. Q2 Profit Decreases, Misses Estimates

(RTTNews) - Lennar Corp. (LEN.B) reported a profit for second quarter that decreased from the same period last year and missed the Street estimates.

The company's bottom line came in at $477.45 million, or $1.81 per share. This compares with $954.31 million, or $3.45 per share, last year.

Excluding items, Lennar Corp. reported adjusted earnings of $499 million or $1.90 per share for the period.

Analysts on average had expected the company to earn $1.94 per share. Analysts' estimates typically exclude special items.

The company's revenue for the period fell 4.4% to $8.377 billion from $8.765 billion last year.

Lennar Corp. earnings at a glance (GAAP) :

-Earnings: $477.45 Mln. vs. $954.31 Mln. last year. -EPS: $1.81 vs. $3.45 last year. -Revenue: $8.377 Bln vs. $8.765 Bln last year.