(Disclosure: Rose Law Group represents Lennar.)
By Matthew Blake | Housing Wire
“These are the best of times,” declared Stuart Miller, chairman of the board for Lennar Thursday. And the homebuilder’s quarterly financial performance backs up what Miller is talking about.
Lennar, best known for producing homes for the middle class, reported $831 million in net income for the months of March, April and May, a 61% increase from the same three months in 2020, which coincided with the pandemic’s onset. Miami-headquartered Lennar made $1.8 billion overall for the first six months of its fiscal year.
The business reported $6.4 billion in revenue for most recent last fiscal quarter, a 30% year-over-year increase.
And Lennar completed construction of a company record 14,493 homes in the past three months, while starting construction on 17,157 abodes.How long will the good times roll?