Lennar Exceeds Q3 Earnings Forecast

MIAMI-Lennar Corp., one of the country’s largest homebuilders, is partly attributing a 75% increase in third-quarter net earnings to strength in the markets it serves and improved operational efficiencies.

Yet, even a 15% increase in net earnings per share failed to inspire investor confidence Thursday, as the publicly traded common stock in Lennar closed down $3.15 a share at $33.15 on volume of 1.6 million.

Already affected by continued weakness in the national economy, Lennar shares joined many other publicly traded stocks on a downward trend this week in the aftermath of the Sept. 11 terrorist attack. Since closing at a recent high of $45.09 on Sept. 4, the issue has fallen $11.94 as of the close of markets on Thursday.