Lennar Corp (LEN)

Lennar Corporation Declares Quarterly DividendsJune 25, 2026 4:30 PM
PR Newswire (US) MIAMI, June 25, 2026 /PRNewswire/ -- Lennar Corporation (NYSE: LEN and LEN.B), one of the nation's leading homebuilders, announced that its Board of Directors has declared a quarterly cash dividend of $0.50 per share for both Class A and Class B common stock payable on July 24, 2026 to holders of record at the close of business on July 10, 2026.About Lennar
Lennar Corporation, founded in 1954, is one of the nation's leading builders of quality homes for all generations. Lennar builds affordable, move-up and active adult homes primarily under the Lennar brand name. Lennar's Financial Services segment provides mortgage financing, title and closing services primarily for buyers of Lennar's homes and, through LMF Commercial, originates mortgage loans secured primarily by commercial real estate properties throughout the United States. Lennar's Multifamily segment is a nationwide developer of high-quality multifamily rental properties. LENX drives Lennar's technology, innovation and strategic investments. For more information about Lennar, please visit www.lennar.com.Contact:
Jorge Almeida
Investor Relations
Lennar Corporation
(305) 485-4129 View original content:https://www.prnewswire.com/news-releases/lennar-corporation-declares-quarterly-dividends-302811125.htmlSOURCE Lennar Corporation Original: Lennar Corporation Declares Quarterly Dividends

Lennar Misses Earnings Expectations as Housing Market Challenges Continue (LEN)June 12, 2026 6:24 AM
IH Market News Lennar Corporation (NYSE:LEN) reported second-quarter results that came in below market forecasts, as the homebuilder continued to contend with affordability pressures, elevated mortgage rates and cautious buyer sentiment across the U.S. housing market. For the quarter ended 31 May 2026, Lennar generated adjusted earnings of $1.31 per share, excluding mark-to-market losses related to technology investments. Reported earnings per share were $1.24, narrowly missing analyst expectations of $1.25. Revenue totalled $7.9 billion, down 2% from the prior year and below the consensus forecast of $8 billion. Home Deliveries Rise Despite Lower Selling Prices The company delivered 20,519 homes during the quarter, representing a 2% increase from a year earlier. However, the average sales price declined 5% year-on-year to $371,000, compared with $389,000 in the same period last year, reflecting continued affordability challenges and the need for pricing adjustments to support demand. Shares of Lennar fell approximately 1.3% in premarket trading following the release of the results. Management Highlights Ongoing Market Pressures Executive Chairman, Chief Executive Officer and President Stuart Miller said the operating environment remained difficult, pointing to several long-standing challenges affecting the housing sector. According to Miller, the quarter “was defined by the same stubborn headwinds that have challenged the housing market for the past several years – persistently elevated mortgage rates, constrained affordability, and cautious consumer sentiment, exacerbated by geopolitical uncertainty creating a resurgent inflation reading of 4.2% driven by higher energy prices.” Margins Narrow as Costs and Pricing Weigh on Performance Lennar’s gross margin on home sales fell to 15.6%, compared with 17.8% in the year-earlier period. The decline was primarily attributed to lower revenue per square foot and higher land acquisition costs, although some of the pressure was offset by improvements in construction expenses. New orders declined 4% year-on-year to 21,749 homes during the quarter. Meanwhile, the company ended the period with a backlog of 16,818 homes, representing a total value of approximately $6.6 billion. Third-Quarter Guidance Signals Stable Delivery Volumes Looking ahead, Lennar expects to deliver between 20,500 and 21,500 homes during the third quarter of 2026. The projected average sales price is expected to range from $375,000 to $380,000, while the midpoint of the delivery forecast, at 21,000 homes, is broadly in line with market expectations. Management also anticipates gross margin improving to around 16%, while selling, general and administrative expenses are expected to fall to between 8.8% and 9.0% of home sales. Analysts Focus on Profitability Trends Following the earnings release, Barclays analysts suggested the market reaction would likely be restrained. “We expect a muted to slightly negative reaction tomorrow pending the call,” Barclays analysts said in a post-earnings note. They added: “Investors tend to focus highly on the gross margin, where guidance did hit consensus, but we also think investors have come to understand that SG&A/op. margin and financial services earnings are more correctly the holistic way to view LEN results, given the interplay with gross margin.” Full-Year Outlook Reduced as Uncertainty Persists Lennar lowered its full-year 2026 delivery forecast to approximately 82,000 to 83,000 homes, citing continued pressure from elevated interest rates and ongoing geopolitical uncertainty. Despite the softer outlook, the company continued returning capital to shareholders, repurchasing 5 million shares for $447 million during the quarter. Lennar finished the period with $1.8 billion in cash within its homebuilding operations, providing significant liquidity as it navigates an uncertain housing market environment. Lennar stock price Original: Lennar Misses Earnings Expectations as Housing Market Challenges Continue (LEN)

Lennar Names Jim Parker Chief Operating Officer and David Grove EVP, HomebuildingJune 5, 2026 5:56 PM
PR Newswire (US) MIAMI, June 5, 2026 /PRNewswire/ -- Lennar Corporation (NYSE: LEN and LEN.B), one of the nation's largest homebuilders, today announced that, effective immediately, Jim Parker has been named Chief Operating Officer and David Grove has been named Executive Vice President, Homebuilding. Mr. Parker and Mr. Grove most recently served as Area Presidents, leading Lennar's East and West operations, respectively. In their new roles, they will continue to report to Stuart Miller, Executive Chairman, Chief Executive Officer and President of Lennar. Mr. Parker and Mr. Grove each bring 30 years of homebuilding industry experience.Mr. Parker joined Lennar as Regional President through its 2018 merger with CalAtlantic Homes, where he had served as Region President following the merger of Ryland Homes and Standard Pacific. Earlier in his career, he held leadership roles at John Wieland Homes and Beazer Homes, founded and sold Parker Chandler Homes — operating across Atlanta, Charlotte, and Myrtle Beach — and later served as Atlanta Division President and Area President at Ryland Homes.Mr. Grove joined Lennar in 1999 as a Construction Area Manager in Austin and has spent his entire career with the company, advancing through roles in construction management and operations before becoming Division President in 2004. He led Lennar's San Antonio Division for more than a decade and oversaw both the Austin and San Antonio Divisions before relocating to Dallas in 2017 as Division President of the Dallas-Fort Worth Division. He was named Regional President for Texas in 2022 before assuming his Area President role.Stuart Miller, Lennar's Executive Chairman, Chief Executive Officer and President, said, "Jim and David are tenured, proven Lennar leaders who are energized by the opportunity ahead. They have consistently delivered strong results for our teams and our business. More than that, they exemplify our core values — building quality homes and delivering more value to our customers, always with the highest level of integrity."About Lennar
Lennar Corporation, founded in 1954, is one of the nation's leading builders of quality homes for all generations. Lennar builds affordable, move-up and active adult homes primarily under the Lennar brand name. Lennar's Financial Services segment provides mortgage financing, title and closing services primarily for buyers of Lennar's homes and, through LMF Commercial, originates mortgage loans secured primarily by commercial real estate properties throughout the United States. Lennar's Multifamily segment is a nationwide developer of high-quality multifamily rental properties. LENX drives Lennar's technology, innovation and strategic investments. For more information about Lennar, please visit www.lennar.com.Contact:Jorge Almeida
Investor Relations
Lennar Corporation
(305) 485-4129 View original content:https://www.prnewswire.com/news-releases/lennar-names-jim-parker-chief-operating-officer-and-david-grove-evp-homebuilding-302793118.htmlSOURCE Lennar Corporation Original: Lennar Names Jim Parker Chief Operating Officer and David Grove EVP, Homebuilding

Lennar Corporation to Broadcast Its Second Quarter 2026 Earnings Call on June 12, 2026May 28, 2026 5:16 PM
PR Newswire (US) MIAMI, May 28, 2026 /PRNewswire/ -- Lennar Corporation (NYSE: LEN and LEN.B), one of the nation's largest homebuilders, announced today that the Company will release its second quarter 2026 earnings after the market closes on June 11, 2026. Additionally, the Company will host a conference call on June 12, 2026 at 11:00 a.m. Eastern Time.The call will be broadcast live and can be accessed through Lennar's website at investors.lennar.com. If you are unable to participate during the live webcast, the call will be archived at investors.lennar.com for 90 days.Lennar Corporation, founded in 1954, is one of the nation's leading builders of quality homes for all generations. Lennar builds affordable, move-up and active adult homes primarily under the Lennar brand name. Lennar's Financial Services segment provides mortgage financing, title and closing services primarily for buyers of Lennar's homes and, through LMF Commercial, originates mortgage loans secured primarily by commercial real estate properties throughout the United States. Lennar's Multifamily segment is a nationwide developer of high-quality multifamily rental properties. LENX drives Lennar's technology, innovation and strategic investments. For more information about Lennar, please visit www.lennar.com.Contact:
Jorge Almeida
Investor Relations
Lennar Corporation
(305) 485-4129 View original content:https://www.prnewswire.com/news-releases/lennar-corporation-to-broadcast-its-second-quarter-2026-earnings-call-on-june-12-2026-302785048.htmlSOURCE Lennar Corporation Original: Lennar Corporation to Broadcast Its Second Quarter 2026 Earnings Call on June 12, 2026

Lennar Corporation Declares Quarterly DividendsApril 8, 2026 4:30 PM
PR Newswire (US)

MIAMI, April 8, 2026 /PRNewswire/ -- Lennar Corporation (NYSE: LEN and LEN.B), one of the nation's leading homebuilders, announced that its Board of Directors has declared a quarterly cash dividend of $0.50 per share for both Class A and Class B common stock payable on May 6, 2026 to holders of record at the close of business on April 22, 2026.About Lennar
Lennar Corporation, founded in 1954, is one of the nation's leading builders of quality homes for all generations. Lennar builds affordable, move-up and active adult homes primarily under the Lennar brand name. Lennar's Financial Services segment provides mortgage financing, title and closing services primarily for buyers of Lennar's homes and, through LMF Commercial, originates mortgage loans secured primarily by commercial real estate properties throughout the United States. Lennar's Multifamily segment is a nationwide developer of high-quality multifamily rental properties. LENX drives Lennar's technology, innovation and strategic investments. For more information about Lennar, please visit www.lennar.com.Contact:
Diane Bessette
Chief Financial Officer
Lennar Corporation
(305) 229-6419



View original content:https://www.prnewswire.com/news-releases/lennar-corporation-declares-quarterly-dividends-302737362.htmlSOURCE Lennar Corporation

Original: Lennar Corporation Declares Quarterly Dividends

Lennar Reports First Quarter 2026 ResultsMarch 12, 2026 4:30 PM
PR Newswire (US)

First Quarter 2026 Highlights Net earnings per diluted share of $0.93 ($0.88 excluding mark-to-market gains on technology investments)Net earnings of $229 millionNew orders increased 1% year over year to 18,515 homesBacklog of 15,588 homes with a dollar value of $6.0 billionDeliveries decreased 5% year over year to 16,863 homesTotal revenues of $6.6 billionHomebuilding operating earnings of $373 millionGross margin on home sales of 15.2%S,G&A expenses as a % of revenues from home sales of 9.8%Net margin on home sales of 5.3%Financial Services operating earnings of $91 millionMultifamily operating earnings of $18 millionLennar Other operating loss of $5 millionHomebuilding cash and cash equivalents of $2.1 billionNo outstanding borrowings under the Company's $3.1 billion revolving credit facilityHomebuilding debt to total capital of 15.7%Repurchased 2 million shares of Lennar common stock for $237 millionMIAMI, March 12, 2026 /PRNewswire/ -- Lennar Corporation (NYSE: LEN and LEN.B), one of the nation's leading homebuilders, today reported results for its first quarter ended February 28, 2026. First quarter net earnings attributable to Lennar in 2026 were $229 million, or $0.93 per diluted share, compared to first quarter net earnings attributable to Lennar in 2025 of $520 million, or $1.96 per diluted share. Excluding pretax mark-to-market gains of $15 million on technology investments, first quarter net earnings attributable to Lennar in 2026 were $218 million, or $0.88 per diluted share. Excluding pretax mark-to-market losses of $63 million on technology investments, first quarter net earnings attributable to Lennar in 2025 were $567 million or $2.14 per diluted share.Stuart Miller, Executive Chairman and Chief Executive Officer of Lennar, said, "Our first quarter of fiscal year 2026 was defined by the same persistent headwinds that have challenged the housing market for over three years — high mortgage rates, constrained affordability, cautious consumer sentiment, and geopolitical uncertainty, especially now including the recent conflict in Iran. As our results reflect, Lennar remained focused on executing our consistent operating strategy to maintain production and support housing supply, while driving structural improvements across our business.""During the first quarter, we delivered 16,863 homes, generated 18,515 new orders, and maintained our disciplined, production-first operating strategy. Our average sales price was $374,000, reflecting the continued use of approximately 14% in incentives, along with base price adjustments necessary to sustain volume in a market where affordability remains the defining constraint. Gross margin came in at 15.2%, with SG&A of 9.8%, resulting in a net margin of 5.3%." "Our strategy has been to actively design around the affordability challenge rather than waiting it out. We have focused on prioritizing volume to create durable scale advantages, delivering that volume at lower prices, and ultimately improving margins. Operationally, our starts pace of 3.4 homes per community per month and sales pace of 3.6 reflect a measured, even-flow approach across our 1,678 active communities. Our cycle time improved to 122 days, our shortest ever, and our inventory turn increased to 2.5 times, reflecting the strength of our land-light model, as well as improved execution across our construction operations and supply chain. Additionally, our construction costs improved just over 2.5% in the first quarter and have decreased 12% over the last two years, even as labor remains constrained and materials face constant pricing pressure.""In the second quarter, we expect to deliver approximately 20,000 to 21,000 homes with gross margin improving to 15.5% to 16% and SG&A improving to 8.9% to 9.1%, as volume increases and the spring selling season unfolds."Mr. Miller concluded, "While the broader market remains challenged in the near term, exacerbated by current events, we are continuing to operate with conviction and clarity. The fundamental shortage of housing in America has not been solved — demand is real, deferred, and building. As affordability gradually improves, as rates find a more stable footing, and as the nation begins in earnest to address the regulatory and entitlement barriers that constrain supply, Lennar is extremely well positioned for long-term growth. But, until then, we are building the homes America needs, at the prices the market can absorb, with an operating platform that is continuously improving and becoming more efficient every quarter."RESULTS OF OPERATIONS
FIRST QUARTER 2026 COMPARED TO FIRST QUARTER 2025HomebuildingRevenues from home sales decreased 13% in the first quarter of 2026 to $6.3 billion from $7.2 billion in the first quarter of 2025. Revenues were lower primarily due to an 8% decrease in the average sales price of homes delivered and a 5% decrease in the number of home deliveries. New home deliveries were 16,863 homes in the first quarter of 2026, compared to 17,834 homes in the first quarter of 2025. The average sales price of homes delivered was $374,000 in the first quarter of 2026, compared to $408,000 in the first quarter of 2025. The decrease in average sales price of homes delivered in the first quarter of 2026 compared to the same period last year was primarily due to continued weakness in the market and an increased use of sales incentives offered to homebuyers.Gross margins on home sales were $951 million, or 15.2%, in the first quarter of 2026, compared to $1.4 billion, or 18.7%, in the first quarter of 2025. During the first quarter of 2026, gross margins decreased primarily due to lower revenue per square foot and higher land costs year over year, which were partially offset by a decrease in construction costs, reflecting the Company's continued focus on cost-saving initiatives.Selling, general and administrative expenses were $617 million in the first quarter of 2026, compared to $616 million in the first quarter of 2025. As a percentage of revenues from home sales, selling, general and administrative expenses increased to 9.8% in the first quarter of 2026, from 8.5% in the first quarter of 2025, primarily due to less leverage as a result of lower revenues.Financial ServicesOperating earnings for the Financial Services segment were $91 million in the first quarter of 2026, compared to $143 million in the first quarter of 2025. The decrease in operating earnings was primarily due to lower lock volume and lower profit per locked loan.Ancillary BusinessesOperating earnings for the Multifamily segment were $18 million in the first quarter of 2026, compared to a breakeven result in the first quarter of 2025. Operating loss for the Lennar Other segment was $5 million in the first quarter of 2026, compared to operating loss of $89 million in the first quarter of 2025. The Lennar Other operating loss for the first quarter of 2026 was primarily due to operating losses, which was partially offset by mark-to-market gains of $15 million on the Company's technology investments. The Lennar Other operating loss for the first quarter of 2025 was primarily due to mark-to-market losses of $63 million on the Company's technology investments.Tax RateIn the first quarter of 2026 and 2025, the Company had tax provisions of $69 million and $170 million, which resulted in an overall effective income tax rate of 23.1% and 24.6%, respectively. For both periods, the Company's effective income tax rate included state income tax expense and non-deductible executive compensation, partially offset by tax credits. The decrease in the effective tax rate for the first quarter of 2026 compared to the prior period was primarily due to a charitable contribution of appreciated stock to the Lennar Foundation.Share RepurchasesIn the first quarter of 2026, the Company repurchased 2 million shares of its common stock for $237 million at an average share price of $118.54.GuidanceThe following are the Company's expected results of its homebuilding and financial services activities for the second quarter of 2026:New Orders21,000 - 22,000Deliveries20,000 - 21,000Average Sales Price$370,000 - $375,000Gross Margin % on Home Sales15.5% - 16.0%SG&A as a % of Home Sales8.9% - 9.1%Financial Services Operating Earnings$100 million - $110 millionAbout Lennar
Lennar Corporation, founded in 1954, is one of the nation's leading builders of quality homes for all generations. Lennar builds affordable, move-up and active adult homes primarily under the Lennar brand name. Lennar's Financial Services segment provides mortgage financing, title and closing services primarily for buyers of Lennar's homes and, through LMF Commercial, originates mortgage loans secured primarily by commercial real estate properties throughout the United States. Lennar's Multifamily segment is a nationwide developer of high-quality multifamily rental properties. LENX drives Lennar's technology, innovation and strategic investments. For more information about Lennar, please visit www.lennar.com.Note Regarding Forward-Looking Statements: Some of the statements in this press release are "forward-looking statements," as that term is defined in the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements relating to the homebuilding market and other markets in which we participate, as well as our expected results and guidance. You can identify forward-looking statements by the fact that these statements do not relate strictly to historical or current matters. Rather, forward-looking statements relate to anticipated or expected events, activities, trends or results. Accordingly, these forward-looking statements should be evaluated with consideration given to the many risks and uncertainties inherent in our business that could cause actual results and events to differ materially from those anticipated by the forward-looking statements. We wish to caution readers not to place undue reliance on any forward-looking statements, which are expressly qualified in their entirety by this cautionary statement and speak only as of the date made. Important factors that could cause differences between anticipated and actual results include slowdowns in real estate markets in regions where we have significant Homebuilding or Multifamily development activities or own a substantial number of single-family homes for rent; decreased demand for our homes, either for sale or for rent, or Multifamily rental apartments; the potential impact of inflation; the impact of increased cost of mortgage financing for homebuyers, increased or continued high interest rates or increased competition in the mortgage industry; supply shortages and increased costs related to construction materials and labor; changes in trade policy affecting our business, including new or increased tariffs, as well as the potential impact of retaliatory tariffs and other penalties that may impact the cost of raw materials and other goods related to our homebuilding businesses; changes in U.S. and foreign governmental laws, regulations and policies, including retaliatory policies against the United States, that may impact our business operations; cost increases related to real estate taxes and insurance; the effect of increased interest rates with regard to our funds' borrowings or the willingness of the funds to invest in new projects; reductions in the market value of our investments in public companies; natural disasters or catastrophic events for which our insurance may not provide adequate coverage; our inability to successfully execute our strategies, including our land light strategy; problems exercising options to purchase homesites; a decline in the value of the land and home inventories we maintain and resulting possible future writedowns of the carrying value of our real estate assets; the forfeiture of deposits related to land purchase options we decide not to exercise; the potential negative impact to our business from public health issues; labor shortages and/or a decrease in the number of potential homebuyers due to increased enforcement of restrictions on immigration; possible unfavorable outcomes in legal proceedings; conditions in the capital, credit and financial markets; changes in laws, regulations or the regulatory environment affecting our business; and the other risks and uncertainties described in our filings from time to time with the Securities and Exchange Commission, including those included under the captions "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" in our most recent Annual Report on Form 10-K filed on January 28, 2026 and Quarterly Reports on Form 10-Q. We undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.A conference call to discuss the Company's first quarter earnings will be held at 11:00 a.m. Eastern Time on Friday, March 13, 2026. The call will be broadcast live on the Internet and can be accessed through the Company's website at investors.lennar.com. If you are unable to participate in the conference call, the call will be archived at investors.lennar.com for 90 days. A replay of the conference call will also be available later that day by calling 203-369-1938 and entering 5723593 as the confirmation number.### LENNAR CORPORATION AND SUBSIDIARIESSelected Revenues and Operating Information(In thousands, except per share amounts)(unaudited)

First Quarter
2026
2025Revenues:


Homebuilding$      6,298,563
7,283,870Financial Services215,555
277,077Multifamily82,499
63,196Lennar Other22,859
7,402Total revenues$      6,619,476
7,631,545



Homebuilding operating earnings$         373,028
809,273Financial Services operating earnings91,313
143,483Multifamily operating earnings (loss)17,859
(23)Lennar Other operating loss(5,246)
(89,283)Corporate general and administrative expenses(157,638)
(147,378)Charitable foundation contribution(16,863)
(17,834)Earnings before income taxes302,453
698,238Provision for income taxes(69,092)
(169,525)Net earnings (including net earnings attributable to noncontrolling interests)233,361
528,713Less: Net earnings attributable to noncontrolling interests3,978
9,187Net earnings attributable to Lennar$         229,383
519,526



Basic and diluted average shares outstanding244,438
262,733



Basic and diluted earnings per share$               0.93
1.96



Supplemental information:


Interest incurred (1)$           54,575
31,489



EBIT (2):


Net earnings attributable to Lennar$         229,383
519,526Provision for income taxes69,092
169,525Interest expense included in:


Costs of homes and land sold38,829
28,118Homebuilding other income, net3,158
3,528Total interest expense41,987
31,646EBIT$         340,462
720,697

(1)Amount represents interest incurred related to homebuilding debt.(2)EBIT is a non-GAAP financial measure defined as earnings before interest and taxes. This financial measure has been presented because the Company finds it important and useful in evaluating its performance and believes that it helps readers of the Company's financial statements compare its operations with those of its competitors. Although management finds EBIT to be an important measure in conducting and evaluating the Company's operations, this measure has limitations as an analytical tool as it is not reflective of the actual profitability generated by the Company during the period. Management compensates for the limitations of using EBIT by using this non-GAAP measure only to supplement the Company's GAAP results. Due to the limitations discussed, EBIT should not be viewed in isolation, as it is not a substitute for GAAP measures. LENNAR CORPORATION AND SUBSIDIARIESSegment Information(In thousands)(unaudited)

First Quarter
2026
2025Homebuilding revenues:


Sales of homes$      6,272,922
7,240,546Sales of land15,158
35,326Other homebuilding10,483
7,998  Total homebuilding revenues6,298,563
7,283,870



Homebuilding costs and expenses:


Costs of homes sold5,321,614
5,888,144Costs of land sold31,311
36,077Selling, general and administrative617,495
615,739  Total homebuilding costs and expenses5,970,420
6,539,960Homebuilding net margins328,143
743,910Homebuilding equity in earnings from unconsolidated entities38,181
35,004Homebuilding other income, net6,704
30,359Homebuilding operating earnings$         373,028
809,273



Financial Services revenues$         215,555
277,077Financial Services costs and expenses124,242
133,594Financial Services operating earnings$           91,313
143,483



Multifamily revenues$           82,499
63,196Multifamily costs and expenses90,428
73,376Multifamily equity in earnings from unconsolidated entities and other income (expense), net25,788
10,157Multifamily operating earnings (loss)$           17,859
(23)



Lennar Other revenues$           22,859
7,402Lennar Other costs and expenses43,684
23,564Lennar Other equity in earnings (loss) from unconsolidated entities and other741
(10,618)Lennar Other gains (losses) from technology investments14,838
(62,503)Lennar Other operating loss$           (5,246)
(89,283) 
LENNAR CORPORATION AND SUBSIDIARIESSummary of Deliveries, New Orders and Backlog(Dollars in thousands, except average sales price)(unaudited)
Lennar's reportable homebuilding segments and all other homebuilding operations not required to be reported separately have divisions located in:
East: Florida, New Jersey and PennsylvaniaCentral: Alabama, Georgia, Illinois, Indiana, Maryland, Minnesota, North Carolina, South Carolina and TennesseeSouth Central: Arkansas, Kansas, Oklahoma and TexasWest: Arizona, California, Colorado, Idaho, Nevada, Oregon, Utah and WashingtonOther: Urban divisions

First Quarter
2026
2025
2026
2025
2026
2025Deliveries:Homes
Dollar Value
Average Sales PriceEast4,150
4,384
$         1,583,951
1,696,242
$            382,000
387,000Central3,801
3,956
1,345,033
1,530,193
354,000
387,000South Central5,039
4,730
1,160,180
1,160,523
230,000
245,000West3,868
4,756
2,251,747
2,888,685
582,000
607,000Other5
8
3,884
5,886
777,000
736,000Total16,863
17,834
$         6,344,795
7,281,529
$            374,000
408,000Of the total homes delivered listed above, 84 homes with a dollar value of $72 million and an average sales price of $856,000 represent homes from unconsolidated entities for the first quarter 2026, compared to 80 homes with a dollar value of $41 million and an average sales price of $512,000 for the first quarter 2025.

First Quarter
2026
2025
2026
2025
2026
2025
2026
2025New Orders:Active Communities
Homes
Dollar Value
Average Sales PriceEast359
341
4,480
4,063
$  1,711,647
1,561,862
$     382,000
384,000Central452
436
4,592
4,550
1,636,213
1,800,195
356,000
396,000South Central429
387
5,005
4,921
1,163,614
1,172,861
232,000
238,000West437
418
4,431
4,811
2,622,800
2,888,650
592,000
600,000Other1
2
7
10
5,112
7,164
730,000
716,000Total1,678
1,584
18,515
18,355
$  7,139,386
7,430,732
$     386,000
405,000Of the total new orders listed above, 71 homes with a dollar value of $31 million and an average sales price of $440,000 represent homes in seven active communities from unconsolidated entities for the first quarter 2026, compared to 101 homes with a dollar value of $60 million and an average sales price of $593,000 in 11 active communities for the first quarter 2025.

First Quarter
2026
2025
2026
2025
2026
2025Backlog:Homes
Dollar Value
Average Sales PriceEast5,152
3,038
$         1,897,184
1,350,594
$            368,000
445,000Central4,263
4,006
1,563,856
1,667,175
367,000
416,000South Central3,011
3,027
659,412
725,427
219,000
240,000West3,160
3,071
1,919,087
2,021,262
607,000
658,000Other2
3
1,228
1,626
614,000
542,000Total15,588
13,145
$         6,040,767
5,766,084
$            388,000
439,000
Of the total homes in backlog listed above, 66 homes with a backlog dollar value of $45 million and an average sales price of $687,000 represent the backlog from unconsolidated entities at February 28, 2026, compared to 100 homes with a backlog dollar value of $83 million and an average sales price of $827,000 at February 28, 2025. LENNAR CORPORATION AND SUBSIDIARIESCondensed Consolidated Balance Sheets(In thousands, except per share amounts)(unaudited)

February 28, 2026
November 30, 2025ASSETS


Homebuilding:


Cash and cash equivalents$                    2,085,384
3,441,324Restricted cash27,541
25,930Receivables, net960,912
1,002,629Inventories:


  Finished homes and construction in progress9,547,262
8,822,271  Land and land under development928,517
1,098,961Inventory owned10,475,779
9,921,232  Consolidated inventory not owned1,646,284
1,696,401Inventory owned and consolidated inventory not owned12,122,063
11,617,633Deposits and pre-acquisition costs on real estate6,824,948
6,383,633Investments in unconsolidated entities1,479,812
1,545,370Goodwill3,442,359
3,442,359Other assets1,787,517
1,794,378
28,730,536
29,253,256Financial Services2,808,039
3,377,413Multifamily842,100
902,136Lennar Other829,667
897,632Total assets$                  33,210,342
34,430,437
LIABILITIES AND EQUITY


Homebuilding:


Accounts payable$                    1,737,575
1,812,484Liabilities related to consolidated inventory not owned1,447,697
1,476,376Senior notes and other debts payable, net4,065,459
4,084,686Other liabilities2,353,359
2,691,876
9,604,090
10,065,422Financial Services1,390,277
2,010,598Multifamily88,547
113,361Lennar Other95,165
100,447Total liabilities11,178,079
12,289,828



Stockholders' equity:


Preferred stock—
—Class A common stock of $0.10 par value26,319
26,158Class B common stock of $0.10 par value3,660
3,660Additional paid-in capital5,993,733
5,909,726Retained earnings22,577,374
22,471,471Treasury stock(6,727,316)
(6,457,609)Accumulated other comprehensive income5,606
6,011Total stockholders' equity21,879,376
21,959,417Noncontrolling interests152,887
181,192Total equity22,032,263
22,140,609Total liabilities and equity$                  33,210,342
34,430,437 LENNAR CORPORATION AND SUBSIDIARIESSupplemental Data(Dollars in thousands)(unaudited)

February 28, 2026
November 30, 2025
February 28, 2025Homebuilding debt$               4,065,459
4,084,686
2,211,272Stockholders' equity21,879,376
21,959,417
22,728,038Total capital$             25,944,835
26,044,103
24,939,310Homebuilding debt to total capital15.7 %
15.7 %
8.9 %





Homebuilding debt$               4,065,459
4,084,686
2,211,272Less: Homebuilding cash and cash equivalents2,085,384
3,441,324
2,283,928Net homebuilding debt$               1,980,075
643,362
(72,656)Net homebuilding debt to total capital (1)8.3 %
2.8 %
(0.3) %

(1)Net homebuilding debt to total capital is a non-GAAP financial measure defined as net homebuilding debt (homebuilding debt less homebuilding cash and cash equivalents) divided by total capital (net homebuilding debt plus stockholders' equity). The Company believes the ratio of net homebuilding debt to total capital is a relevant and a useful financial measure to investors in understanding the leverage employed in homebuilding operations. However, because net homebuilding debt to total capital is not calculated in accordance with GAAP, this financial measure should not be considered in isolation or as an alternative to financial measures prescribed by GAAP. Rather, this non-GAAP financial measure should be used to supplement the Company's GAAP results. Contact:
Diane Bessette
Chief Financial Officer
Lennar Corporation
(305) 229-6419



View original content:https://www.prnewswire.com/news-releases/lennar-reports-first-quarter-2026-results-302712829.htmlSOURCE Lennar Corporation

Original: Lennar Reports First Quarter 2026 Results

Lennar Corporation to Broadcast Its First Quarter 2026 Earnings Call on March 13, 2026February 26, 2026 4:42 PM
PR Newswire (US)

MIAMI, Feb. 26, 2026 /PRNewswire/ -- Lennar Corporation (NYSE: LEN and LEN.B), one of the nation's largest homebuilders, announced today that the Company will release its first quarter 2026 earnings after the market closes on March 12, 2026. Additionally, the Company will host a conference call on March 13, 2026 at 11:00 a.m. Eastern Time.The call will be broadcast live and can be accessed through Lennar's website at investors.lennar.com. If you are unable to participate during the live webcast, the call will be archived at investors.lennar.com for 90 days. Lennar Corporation, founded in 1954, is one of the nation's leading builders of quality homes for all generations. Lennar builds affordable, move-up and active adult homes primarily under the Lennar brand name. Lennar's Financial Services segment provides mortgage financing, title and closing services primarily for buyers of Lennar's homes and, through LMF Commercial, originates mortgage loans secured primarily by commercial real estate properties throughout the United States. Lennar's Multifamily segment is a nationwide developer of high-quality multifamily rental properties. LENX drives Lennar's technology, innovation and strategic investments. For more information about Lennar, please visit www.lennar.com.Contact:
Diane Bessette
Chief Financial Officer
Lennar Corporation
(305) 229-6419



View original content:https://www.prnewswire.com/news-releases/lennar-corporation-to-broadcast-its-first-quarter-2026-earnings-call-on-march-13-2026-302699036.htmlSOURCE Lennar Corporation

Original: Lennar Corporation to Broadcast Its First Quarter 2026 Earnings Call on March 13, 2026

LEN, reports a 10Q this week

Trump Administration Expands Fight With Big Law Firms to DEI Practices
https://www.wsj.com/us-news/law/trump-administration-expands-fight-with-big-law-firms-to-dei-practices-10d37abe $LEN

$LEN Total Debt (mrq) $4.45B

$LEN: 3d-Printed house community in Georgetown, TX

Cool.

https://www.lennar.com/new-homes/texas/austin-central-texas/promo/auslen_3d_homes

Only $400k per home......... no Lumber used.
All locally sourced Concrete.

https://3dprint.com/315348/icon-and-lennar-to-build-100-3d-printed-homes-for-the-homeless/

https://www.designboom.com/architecture/icon-3d-printed-homes-homeless-residents-austin-texas-community-first-village-12-20-2024/

So this is gonna be the future I guess


GO $LEN

Insanely cheap PE here. Up 105% here

LEN 10Q due March 13

LEN new 52 week high

LEN new 52 week high

Put options..The last push up all downhill from here back to $30 dollar land.
The housing market just slid into a full-blown correction, says top economist Mark Zandi
Housing demand is pulling back—fast—and the chief economist for Moody's Analytics has seen enough: "The housing market has peaked.

Lennar Corporation's earnings are projected to improve after a rough 2020 and 2021. For the third quarter of 2021, LEN is expected to see earnings of $3.29 non-GAAP per share, a 55% increase over 2020’s third quarter.

More details here:

https://www.savingadvice.com/articles/2021/07/21/1084826_buy-these-6-housing-stocks-for-a-rocket-to-the-moon.html

$LEN Premarket selling after yesterday’s gain

$LEN | #Lennar Corp Long into Earnings


Lennar is Bullish coming into earnings .
Stock has back-tested the breakout level as support and bounced on high volume .
20ma is also now support.
Longs into earnings have defined risk at $71.00
Possible upside targets $85-$88
Daily Chart Analysis on NYSE & NASDAQ

This stock keeps giving - very undervalued!!

Keeps going, about to break resistance line.

Awesome company here !!

Pulled back after a nice earnings beat. Watching for entry

Q2 Earnings Beat - 1.30 vs 1.14
Sales beat - 5.6B vs 5.1

This Leading Home-Builder Is Falling, Here's The Trade $LEN

This morning, most of the leading home-builder stocks are coming under selling pressure. Home-builder stocks such as Lennar Corp (NYSE:LEN), Toll Brothers Inc (NYSE:TOL), DR Horton Inc (NYSE:DHI) and other are all trading lower by more than 3.0 percent today. Many investors are blaming the recent Redfin Corp (NASDAQ:RDFN) guidance for the decline in the home-building sector, but the industry group has been slumping since the start of 2018.

Lennar Corp (NYSE:LEN) is one particular home-builder that has caught my eye. This stock topped out on January 22, 2018 at $72.17 a share. Since that high pivot, the stock has steadily declined lower throughout the year. Today, LEN stock is trading down by $2.43 to $50.94 a share. Traders should note that the stock has been trading in a sideways range since mid-May. This pattern tells me that there is one more move lower to go before the stock finds a defined bottom. Traders and investors must now watch the $45.00 area as the next major support level for the home-builder. This is where the stock broke out in February 2017. Very often, prior break-out levels will serve as major support when retested.





Nicholas Santiago
InTheMoneyStocks

In Las Vegas, a market dominated by public builders—the eight biggest builders there in 2016 were publics who controlled 75.4% of the market share, according to BUILDER’s Local Leaders data—American West Homes founder Larry Canarelli says the land competition is fierce. For those in the area who aren’t a public or large private builder, like American West, there aren’t many lots to go around. “The little guy, he is caught by wherever he can find between a 2.5- and 5-acre piece,” Canarelli says. “If the little guy finds a piece in North Las Vegas that he can put 12 houses on and he can buy it cheap, he’s gotta buy it. Because that’s all he can get.

“It’s not like it used to be where there would be 20-acre pieces that you could put 100 homesites on and maybe put a little community park in,” he adds. “Those pieces don’t exist now.”

As most high school juniors can tell you, when inventory is low and demand is high, prices rise. The June HMI survey also found that 81% of builders said the price of developed A lots was somewhat to substantially higher than it was the year prior. In comparison, 74% said the same was true with respect to B lots, and for C lots it was 65%.

Shrinking lot supply and rising land prices make business complicated for any builder. But for those at companies without large development teams or sizable capital backings, finding and buying land is even more of a reason to lose sleep. (Builder Magazine Feb 5, 2018)

LEN is a bright spot in a down market today. A lot of news reports are talking about low sales in the housing market but that is only due to low inventory. Higher rates should not impact LEN as long as demand is so strong. This should be a great year for LEN shares and MSPC is another great stock which happens to be up at the 52-week high on strong volume. Many of LEN's assets such as lots should be increased in value on upcoming financial filings which equates to higher intrinsic value per share. If that happens the share price should also increase.

LEN is in the hottest markets which I think is key to a successful 2018. If you look at KBH or TOL you will see that they are on the fringes of some of the hottest markets but, unless I am missing something, they are not in the heart of the very hottest real estate markets like LEN and other competitors. This bodes well for LEN. As long as LEN can continue to divine which markets will be the hottest and avoid getting trapped in downside markets it should be a great year. What makes a hot market? High demand mostly but low supply can be a contributing factor. Here in California, we are experiencing very tight market conditions. There are very few existing homes on the market and many buyers ready to pounce on anything that moves. Anyone can put their house up for sale for any price within reason and it will sell like a hot cake in December. If LEN cannot capitalize on these market conditions I will be astounded.

For those worried about interest rates, I disagree that higher rates will be a problem. LEN operates like a bank and makes money on higher interest rates as long as they don't rise too high too quickly. Lawrence Yun, prominent economist, recently stated on NBR that 6% would be a possible tipping point where drag would be introduced.

Brian Bandell
American City Business Journals•February 14, 2018

Lennar Corp. has reclaimed its spot as the nation’s largest homebuilder after completing the acquisition of CalAtlantic Group. Miami-based Lennar (LEN) and Virginia-based CalAtlantic (CAA) both received shareholder approval for the merger on Monday. Each share of CalAtantic may be exchanged for either 0.885 shares of Lennar or $48.26 in cash.

Sentiment: BUY

This report is typical for markets all around the country:

"The volume of housing sales is holding steady in the Cincinnati region as average and median home sales prices continue to rise and set new records.

The 2017 year-end average home price climbed to $202,169 compared to $190,908 in 2016, a 5.9 percent increase, and the December average sale price climbed to $198,356 compared to $190,625 a year earlier, a 4.06 percent increase, according to the Cincinnati Area Board of Realtors.

At the same time, the inventory of homes for sale, as of Dec. 31, continued its year-over-year declining trend to 4,360 from 5,049 a year ago, down 13.65 percent."
http://www.journal-news.com/news/this-area-housing-marker-hasn-been-this-strong-awhile-here-the-data-that-prove/Xb2fDYWOcQSH6S2CiEDW1H/
Feb 8, 2018
Journal-News

Lower inventories, high demand and higher prices is going on in several regions. Hopefully, LEN can capitalize on the positive market and have a great 2018.

Is Lennar Corp(NYSE:LEN) Signaling Lower Prices For Home-builders?

Leading home-builder stock Lennar Corp(NYSE:LEN) has been steadily falling since June 20, 2017. At that time, the stock traded as high as $55.75 a share, since then LEN shares have declined to $50.32 a share. The stock is now trading below its 50-day moving average which puts it in a weak technical position. Should LEN stock trade and close below its 200-day moving average it would be very negative for the stock. Traders and investors will need to watch the $46.00 to $47.00 level as the next major support area for LEN stock. This will likely be a very attractive level for a bounce in the share price.



Nicholas Santiago
InTheMoneyStocks

Lennar to Houston: We have a problem (1/15/15)

(Reuters) - Lennar Corp (LEN.N), the second-largest U.S. homebuilder by the number of homes sold, said it expects 2015 margins to be squeezed as falling oil prices hurt demand in Houston, a city heavily dependent on the energy sector.

The warning overshadowed a 50 percent jump in quarterly profit and pushed Lennar's shares down as much as 9 percent.

Shares of rivals D.R. Horton Inc (DHI.N) and PulteGroup Inc (PHM.N) were also hit.

Houston accounted for about 12 percent of Lennar's homebuilding revenue in 2013.

"We're well positioned (in Houston) but we're smart enough to know that as oil moves down, there may be some job loss, primarily more on the higher end, and it could impact pricing," a company executive said on a conference call.

The first oil industry layoffs have already been announced in Houston, with realtors there predicting a decline of up to 12 percent in home sales this year.

Lennar said it expected 2015 gross margin of 24 percent, down from 25.4 percent in 2014.

Florida-based Lennar is not the only one to warn on margins for the current year. Smaller rival KB Home (KBH.N) said it expects higher labor and land costs and sale incentives to hit margins in 2015.

"Lennar as well as the overall industry's pricing power has peaked. We expect flat to somewhat down pricing going forward. This is going to lead to lower margins probably for the next couple of years," Jim Krapfel, an analyst with research firm Morningstar, said.

Lennar has so far been able to raise prices despite a choppy recovery in the U.S. housing market as it mainly caters to buyers looking to upgrade to a bigger home. Such buyers are generally not affected much by volatile interest rates.

The company's gross margin fell for the first time in three years in the fourth quarter ended Nov. 30.

Chief Executive Stuart Miller said he remained optimistic about the housing recovery, citing falling gasoline prices, low interest rates and the Federal Housing Administration's decision to cut premiums.

Lennar earned $1.07 per share in the fourth quarter, trumping the average analyst estimate of 96 cents per share, according to Thomson Reuters I/B/E/S.

Lennar's shares were down 6.3 percent at $42.88 on the New York Stock Exchange.

Up to Wednesday's close, the company's stock had risen about 20 percent in the past 12 months, compared with a 12 percent rise in the Dow Jones Home Construction Index .DJUSHB.

http://www.reuters.com/article/2015/01/15/us-lennar-results-idUSKBN0KO12H20150115

Tripled down today...LEN

http://realestate.msn.com/2014-housing-outlook-home-prices-head-higher

Housing is BACK!

Fannie just recorded the largest profit ever! Soon to be released from C-ship.
http://finance.yahoo.com/news/fannie-earns-6-5b-4q-130002054.html

41.71 Solid day.

41.71 Solid day.

Analyst Actions: Lennar Upgraded to Conviction Buy at Goldman, PT Raised $10; Shares Spike 3% Early 02/06 04:26 AM

--------------------------------------------------------------------------------

07:26 AM EST, 02/06/2014 (MT Newswires) -- Home builder Lennar Corporation (LEN:$41.49,00$1.91,004.83%) has been upgraded to a Conviction Buy rating from Neutral by analysts at Goldman Sachs. The firm also raised its price target on the stock to $48 from $38 a share.

"We believe the market is valuing LEN almost exclusively for its core homebuilder business," said Goldman Sachs, "while ascribing little value to its ancillary businesses."

The firm also said it expects expects new home sales growth to reach 20% by Q4 of 2014 from 5% in Q1 2014.

Shares of LEN are up 3.39% to $40.92 in pre-market trading, moving within a 52-week range of $30.90 - $44.40.

Price: 40.92, Change: +1.34, Percent Change: +3.39


--------------------------------------------------------------------------------
Get more news on:SYMBOLS: LEN NEWS TYPE: Extended Trading, Pre-Market Movers, Analyst Ratings, Ratings: Upgrades and Downgrades, Ratings: Upgrades SECTORS: Consumer Discretionary, Household Durables, Industrials, Construction and Engineering

Chart looking strong.

COVERAGE REITERATED: Lennar (LEN) reiterated by RBC Capital Mkts. Reiterated rating Outperform. 12/20 05:22 AM




Get more news on:SYMBOLS: LENNEWS TYPE: Ratings: Upgrades and DowngradesSECTORS: Consumer Discretionary, Household Durables, Industrials, Construction and Engineering

5.34% up to $37.06

Very nice work today...HOD $37.63

$36.12 current with HOD of $36.97

I will take it...more to come...Fed day for earnings day is not the best...

We will see, premarket is one thing...Futures are coming back a bit with Bernanke opening his mouth today, who knows what will come out.

I do have high hopes for LEN though...and the other housing stocks I am in...charts are all looking prime for a recovery in the pps...

LEN GAPPING 36.75

News Alert: Lennar Reports Fourth Quarter EPS of $0.73

LEN revenue jumps 42%%; Asia Europe Futures green, gonna be a bright sun shiny day!

.73 vs .56 a year ago...nice$

I have been in this for a while and se huge upside for housing sector stocks.

Lennar Prevails in Defamation and Extortion Case Against Marsch; Jury Awards $1 Billion in Damages




Lennar (NYSE:LEN)
Intraday Stock Chart

Today : Tuesday 3 December 2013
Click Here for more Lennar Charts.


MIAMI, Dec. 3, 2013 /PRNewswire/ -- Lennar Corporation (NYSE: LEN and LEN.B), one of the nation's largest homebuilders, announced that a civil jury on Monday awarded Lennar Corporation $1 billion in damages against California developer Nicolas Marsch III and his company, Briarwood Capital LLC, on court findings of defamation and conspiracy to extort money from the Company.

"While collecting the award is doubtful, the true value of the verdict is the validation of our integrity, credibility and transparency, which have always been cornerstones of our foundation," said Lennar's Chief Executive Officer, Stuart Miller. "The jury award represents a complete vindication of Lennar's reputation and good name."

The $1 billion jury award, which includes punitive damages, brings to an end seven years of litigation in which courts in California and Florida vindicated Lennar's positions and rejected Marsch's accusations.

The jury awarded damages following proceedings and findings by the trial court that Marsch was liable for conspiring with convicted felon Barry Minkow to engage in an unlawful scheme to extort money from Lennar. In 2011, Minkow returned to federal prison to serve a five-year term for his role in the same extortion and defamation scheme.

The jury delivered a verdict against Marsch and Briarwood of $802 million in compensatory damages as well as $200 million in punitive damages. Despite receiving repeated notices from the court and Lennar, Marsch declined to appear at Monday's trial and testify before the jury.

"The jury's award sends an unmistakable message that you cannot extort companies and lie for money and expect to get away with it," said Daniel Petrocelli of O'Melveny & Myers, the lead trial counsel for Lennar.

About Lennar
Lennar Corporation, founded in 1954, is one of the nation's largest builders of quality homes for all generations. The Company builds affordable, move-up and retirement homes primarily under the Lennar brand name. Lennar's Financial Services segment provides mortgage financing, title insurance and closing services for both buyers of the Company's homes and others. Lennar's Rialto Investments segment is a top-tier, vertically integrated asset management platform focused on investing throughout the commercial real estate capital structure. Previous press releases and further information about the Company may be obtained at the "Investor Relations" section of the Company's website, www.lennar.com.

Note Regarding Forward-Looking Statements
Some of the statements in this press release are "forward-looking statements," as that term is defined in the Private Securities Litigation Reform Act of 1995, including statements regarding the jury award. These forward-looking statements are subject to risks, uncertainties and assumptions. Accordingly, these forward-looking statements should be evaluated with consideration given to the many risks and uncertainties that could cause actual results and events to differ materially from those in the forward-looking statements, including the risk that we may not be able to collect the full amount or any of the jury award. New risks emerge from time to time. It is not possible for management to predict all such risk factors or to assess the impact of such risks on our business. Accordingly, we undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.

SOURCE Lennar Corporation

Copyright 2013 PR Newswire

Big pop and fade, let's do it again tomorrow. Lots of eyes coming back to homebuilders.

Lennar Corporation's Fourth Quarter Earnings Conference Call To Be Broadcast Live On The Internet

Friday , December 21, 2012 10:09ET

MIAMI, Dec. 21, 2012 /PRNewswire/ -- Lennar Corporation (NYSE: LEN and LEN.B), one of the nation's largest homebuilders, announced today that the Company will release earnings for the fourth quarter and year ended November 30, 2012 before the market opens on January 15, 2013. Additionally, the Company will hold a conference call on January 15, 2013 at 11:00 a.m. Eastern Time.

The call will be broadcast live on the Internet and can be accessed through Lennar's website at www.lennar.com. If you are unable to participate during the live webcast, the call will be archived at www.lennar.com for 90 days.

In order to listen to the live event, a participant must have a multimedia computer with speakers and Windows Media Player. To download the software prior to the event, please visit www.lennar.com, click the conference call link on the home page and follow the pre-event instructions.

Lennar Corporation, founded in 1954, is one of the nation's leading builders of quality homes for all generations. The Company builds affordable, move-up and retirement homes primarily under the Lennar brand name. Lennar's Financial Services segment provides mortgage financing, title insurance and closing services for both buyers of the Company's homes and others. Lennar's Rialto Investments segment is focused on distressed real estate asset investments, asset management and workout strategies. Previous press releases and further information about the Company may be obtained at the "Investor Relations" section of the Company's website, www.lennar.com.

SOURCE Lennar Corporation