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Lennar rides U.S. housing boom to post more than two-fold surge in profit

· 03/16/2021 16:34
Lennar rides U.S. housing boom to post more than two-fold surge in profit

- Lennar Corp LEN.N on Tuesday posted a more than two-fold jump in first-quarter profit as historically low mortgage rates and a COVID-19 pandemic-induced shift to suburban living encouraged more Americans to buy homes.

Net earnings attributable to the company rose to $1 billion, or $3.20 per share, in the quarter ended Feb. 28, from $398.5 million, or $1.27 per share, a year earlier.




(Reporting by Shreyasee Raj in Bengaluru; Editing by Aditya Soni)

((Shreyasee.Raj@thomsonreuters.com;))