Williams-Sonoma Q4 profit beats expectations, retailer raises dividend by 10% Lennar increased its guidance on full-year deliveries and gross margins, saying it expects to deliver about 68,000 homes, up from guidance of 67,000 homes. Deliveries were "constrained" by supply-chain disruptions but were in line with the guidance given at the beginning of the quarter, he said. Margins were strong even as materials costs and wages have increased, he said. "Our sales pace remained strong and consistent throughout the quarter, while strong traffic to our welcome home centers and website suggests that demand remains strong for the foreseeable future," Chairman Steve Miller said in a statement. Analysts polled by FactSet expected Lennar to report adjusted EPS of $2.60 on revenue of $2.6 billion. Adjusted for one-time items, Lennar earned $2.70 a share. Lennar said it earned $503.6 million, or $1.69 a share, in the first quarter, compared with $1 billion, or $3.20 a share, in the year-ago quarter. shares rose more than 2% in the extended session Wednesday after the home builder reported first-quarter profit that topped Wall Street expectations and said its "strong sales" reflected ongoing strength in the housing market. Lennar stock rises more than 2% after Q1 profit tops views
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