Overview
- The company reported fourth-quarter earnings of $1.93 per share, missing the $2.22 consensus.
- Revenue rose to $9.37 billion, topping analysts’ expectations of $9.02 billion.
- Interest rates eased during the quarter, yet demand stayed soft as affordability and consumer confidence remained weak.
- Lennar projects 17,000 to 18,000 home deliveries in the first quarter and reported a 17% home sales gross margin for the quarter ended Nov. 30.
- Management highlighted margin compression tied to mortgage-rate buydowns and cost uncertainty from tariffs, noting added operational strain from a six-week government shutdown.