CalAtlantic's Earnings Get Dragged Down by Suppliers and Hurricanes

Considering that the real estate market is doing rather well and homebuilders are cranking out spectacular results lately, CalAtlantic's (NYSE: CAA) 22% decline in earnings per share stands out among the crowd, and not in a good way. Delays from the hurricanes that hit the U.S. last quarter and an issue with a lumber supplier drastically impacted the company's ability to close on homes. 

Not that investors are too worried. After all, the company did receive a buyout offer from Lennar (NYSE: LEN) this past quarter. Let's take a look at what happened with CalAtlantic's most recent results and why it ultimately may not be a big deal.

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Source: Fool.com