Dive Summary:

• Lennar, No. 2 in the U.S. home-building industry, reported third-quarter profits that simply blew away what the company generated in the same period of 2011. Per-share profit was 40 cents compared with 11 cents a year ago.
• The second quarter also had a dramatic increase, but some of that was due to a one-time tax adjustment. The third quarter numbers had no such footnotes.
• As it took more orders than Q3 of 2011 and delivered more homes, too, executives had little doubt that housing is coming back. "The housing market has stabilized and the recovery is well under way," CEO Stuart Miller said.

From the article:

Homebuilder Lennar Corp. ($36.79 -0.72%) posted a third-quarter profit of $87.1 million, or 40 cents a share, as home sales and new orders increased for the period. ...