Lennar Corporation (LEN) Posts Q1 Earnings Beat

Lennar Corporation (LEN,LEN.B) released its Q1 2016 earnings report on Tuesday.

Lennar, LEN stockEarnings per share reported by Lennar during Q1 2016 was 63 cents. This is up from the 50 cents reported during the same time last year. It also surpassed the 52 cents per share that analysts were expecting from the company.

Lennar reported revenue of $2.0 billion during the first quarter of 2016. Revenue reported by the company in Q1 2015 was $1.6 billion. Wall Street was expecting $1.9 billion in revenue for the quarter.

“We began fiscal 2016 with strong operational results and a solid balance sheet. We believe we are well positioned across all of our platforms and for another year of strong profits in 2016,” Lennar CEO Stuart Miller said in a statement.

LEN shares were up slightly as of Tuesday morning.

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