Welcome to our dedicated page for Lennar news (Ticker: LEN), a resource for investors and traders seeking the latest updates and insights on Lennar stock.
Lennar Corporation reports news as a U.S. homebuilder with Class A and Class B common stock traded on the New York Stock Exchange. The company builds affordable, move-up and active adult homes primarily under the Lennar brand, and its updates commonly cover home orders, deliveries, backlog, margins, revenues and liquidity in homebuilding.
Recurring announcements also address quarterly dividends, share repurchases, earnings-call schedules, mortgage, title and closing services in Financial Services, multifamily rental development, commercial real estate mortgage origination through LMF Commercial, and technology and strategic investments through LENX.
Lennar Corporation (NYSE: LEN, LEN.B) reported Q2 2020 net earnings of $517.4 million ($1.65 per diluted share), a 27% increase from $421.5 million ($1.30 per diluted share) last year. Home deliveries were flat at 12,672 homes, while new orders fell 10% to 13,015 homes, totaling $4.9 billion—a 16% decline. Homebuilding gross margin rose to 21.6% from 20.1%. Operating earnings in Financial Services surged to $150.6 million. The company's cash position is strong with $1.4 billion readily available and no debt under its credit facility.
Lennar Corporation (NYSE: LEN) announced a change in its earnings release schedule, now set for after market close on June 15, 2020, instead of June 16, 2020. The conference call will occur on June 16, 2020, at 11:00 a.m. Eastern Time. As one of the top homebuilders in the U.S., Lennar focuses on constructing affordable homes and providing financial services through its segments, which include mortgage financing and multifamily development. For further details, visit www.lennar.com.