Lennar Earnings: Homebuilder Is Back in the Black

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LennarHomebuilder Lennar (LEN) posted third-quarter earnings of $30 million, or 16 cents a share, compared with a loss of $171.6 million, or 97 cents a share, a year earlier.

Lennar earned $825 million in revenue for the quarter ended Aug. 31, the company said in a statement.

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Lennar's homebuilding unit posted operating earnings of $38.1 million for the quarter, compared with a loss of $154.7 million a year earlier.

"Although challenges still remain in the housing market, we are optimistic that our core businesses are on the right track to achieving sustainable profitability as the housing market recovers," CEO Stuart Miller said.

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