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Lennar fiscal Q3 net attributable earnings up 13% YOY

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Lennar fiscal Q3 net attributable earnings up 13% YOY

Lennar Corp. logged net earnings attributable to the company of roughly $513.4 million, or $1.59 per share, for its fiscal third quarter ended Aug. 31, compared with roughly $453.2 million, or $1.37 cents per share, over the same period in 2018.

The S&P Global Market Intelligence consensus normalized EPS estimate for the third quarter was $1.32 per share.

The company posted homebuilding operating margins of $657.1 million, up from $614.7 million in the same period last year. New orders totaled 13,369 homes, marking a year over year increase of 9%, and the new order dollar value was up 3% year over year to $5.2 billion.

Lennar had a backlog of 18,908 homes, down 2% from the year-ago period, and the dollar value of the backlog was down 9% to $7.6 billion.

Total revenues came to roughly $5.86 billion, up from $5.67 billion in the three months ended Aug. 31, 2018.