Lennar Corp., the second-biggest U.S. home-builder by market value, reported a quarterly profit that beat analysts’ estimates as it increased prices and earnings jumped at its Rialto Investments division.
Net income was $164.1 million, or 73 cents a share, for the fiscal fourth quarter ended Nov. 30, compared with $124.3 million, or 56 cents, a year earlier, the Miami-based company said in a statement Wednesday. Analysts expected earnings of 62 cents a share, the average of 19 estimates compiled by Bloomberg.
