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.
Home sales haven’t recovered for the U.S. spring selling season, usually the busiest time for buyers, Lennar Corp. Chief Executive Officer Stuart Miller said.
"The fundamental drivers of improvement in the housing market remain a steadily improving economy with a slowly improving employment picture unlocking pent-up demand while supplies remain constrained to meet that demand."
- Stuart Miller on Jul 17, 2014