Lennar Stock Slides After Q3 Earnings Beat and Q4 Margin Guidance Disappoints
Thursday, 19 September 2024, 20:55
Lennar's Q3 Earnings Strong But Q4 Guidance Wobbles
Lennar Corporation (NYSE:LEN) has seen its stock dip 3.7% in after-hours trading, following the release of its Q3 earnings report, which, although beating expectations, was overshadowed by troubling Q4 gross margin guidance.
Disappointing Q4 Margin Guidance
Despite a solid performance in Q3, guidance for Q4 brought down stock prices significantly. Analysts had estimated healthier margins than those projected by the company, prompting a reassessment of Lennar's position within a challenging housing market.
- Q3 Earnings: Beat expectations with strong revenue.
- Market Reaction: Significant drop in stock price reflects investor concerns.
- Financial Outlook: Investors remain wary after the margin guidance.
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