5 Stocks On Investors’ Radar After Posting Their Financial Results

2. Lennar Corporation (NYSE:LEN)

Number of Hedge Fund Holders: 50

Shares of Lennar Corporation (NYSE:LEN) fell over four percent on Thursday, December 16, 2021, after announcing disappointing earnings for its fiscal fourth quarter. The Florida-based home builder blamed the supply chain hurdles and delayed house deliveries for the weak results.

Lennar Corporation (NYSE:LEN) reported earnings of $3.91 per share, compared to $2.82 per share in the year-ago quarter. Revenue for the quarter rose 24 percent versus last year to $8.4 billion.

Analysts were expecting Lennar Corporation (NYSE:LEN) to earn $4.15 per share on revenue of $8.2 billion. If we look at the key growth drivers, new home deliveries in the quarter increased to 17,819 units versus 16,090 units in the comparable period of 2020. In addition, revenue from home sales surged 26 percent to $8 billion in the quarter.

Looking forward, Lennar Corporation (NYSE:LEN) expects home deliveries of around 12,500 in its fiscal first quarter. In addition, the company expects to deliver about 67,000 homes during its current fiscal year, compared to 59,825 in FY 2021.

Speaking on the results, CEO Stuart Miller said in a statement:

“Our record fourth quarter results reflect both continued strength in the housing market across the country, and continued housing supply shortage driven by limited entitled land, labor and supply chain constraints, and 10 years of production shortfall.”