Lennar reported a 67.4 percent rise in second-quarter revenue on Tuesday, helped by strong housing demand amid an expanding economy and job growth.
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The U.S. homebuilder’s shares rose nearly 6 percent before the bell.
Orders, an indication of future revenue for homebuilders, jumped 62.3 percent to 14,440 homes in the quarter.
The Miami-based builder said it sold 12,095 homes, compared with 7,710 homes last year. The average sales price rose 10.4 percent to $413,000.
Net income attributable to Lennar’s shareholders rose 45.2 percent to $310.3 million, or 94 cents per share, in the quarter ended May 31.
Excluding items, the company earned $1.58 per share.
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Revenue rose to $5.46 billion from $3.26 billion.
(Reporting by Sanjana Shivdas in Bengaluru; Editing by Maju Samuel)
