Most businesses focus on profits. The energy infrastructure companies known as master limited partnerships are all about cash.
Lennar Corp. reported a better- than-estimated third-quarter profit as margins on house sales improved and revenue grew at its distressed-investing division. The stock climbed the most in four months.
Lennar Corp., the third-largest U.S. homebuilder by revenue, paid Chief Executive Officer Stuart Miller $11.9 million last year, a 23 percent increase from 2010, according to a regulatory filing.
Lennar Corp., the largest U.S. homebuilder by market value, said it plans to diversify into apartments with the construction of $1 billion of multifamily properties as rental demand climbs.
Lennar Corp .’s home sales are down 20 percent to 25 percent this month compared with a year earlier as the expiration of a government tax credit for buyers saps demand, Chief Executive Officer Stuart Miller said.
"Credit protection is being transferred from Kinder Morgan Energy Partners to Kinder Morgan Inc. and El Paso."
- Stuart Miller on Aug 15, 2014