The Real Deal Miami

Lennar beats analyst forecasts for first quarter

March 24, 2010 10:00AM

A year after losing $155.9 million in the first quarter of 2009, Miami-
based homebuilder Lennar reported a loss of only $6.5 million, or 4
cents a share. The loss, on a revenue of $574.4 million, was smaller
than had been expected, although the company still delivered 1,988
homes, compared to 2,136 in the same time period last year. Revenue
decreased year over year as well, however, from $522.8 million; losses
were mitigated, the company said, by decreases in construction costs
and sales incentives. Lennar recently picked up 2,700 residential lots across the state from Starwood Land Ventures. [SFBJ]