0919 ET - Lennar's latest results were something of a mixed bag, Oppenheimer's Tyler Batory and Jonathan Jenkins say in a research note. The Miami-based homebuilder's elevated SG&A and weaker average sales price were notable deviations in a negative direction, say the analysts. "It's a positive surprise that the company guided gross margin to be roughly flat quarter-over-quarter despite ASP that is expected to decline quarter-over-quarter," they add. Shares tick up 1.3% premarket, which the analysts believe may be due to buy-side expectations being reset lower heading into the earnings results. (denny.jacob@wsj.com; @pennedbyden)
(END) Dow Jones Newswires
June 17, 2025 09:19 ET (13:19 GMT)
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