Lennar Corp. Q4 Profit Decreases, Misses Estimates

(RTTNews) - Lennar Corp. (LEN.B) revealed earnings for fourth quarter that decreased from the same period last year and missed the Street estimates.

The company's earnings totaled $1.096 billion, or $4.06 per share. This compares with $1.361 billion, or $4.82 per share, in last year's fourth quarter.

Excluding items, Lennar Corp. reported adjusted earnings of $1.1 billion or $4.03 per share for the period.

Analysts on average had expected the company to earn $4.12 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 9.3% to $9.946 billion from $10.968 billion last year.

Lennar Corp. earnings at a glance (GAAP) :

-Earnings (Q4): $1.096 Bln. vs. $1.361 Bln. last year. -EPS (Q4): $4.06 vs. $4.82 last year. -Revenue (Q4): $9.946 Bln vs. $10.968 Bln last year.