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Lennar Corp Class A

LEN: XNYS (USA)
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Morningstar Rating for Stocks Fair Value Economic Moat Capital Allocation
$985.00KgkYwpmtbwxq

Lennar Earnings: 10% Home Delivery Growth Target in 2024 Unchanged; Spinoff Strategy Refreshed

Lennar reported solid fiscal first-quarter (ended Feb. 29) results that featured a strong year-over-year rebound in new orders, home sales gross margin expansion (up 60 basis points year over year to 21.8%), and EPS of $2.57, which was well above the $2.21 FactSet consensus estimate. Nevertheless, Lennar's stock price slipped almost 8% on March 14, likely due to first-quarter revenue falling 1% shy of the consensus estimate as elevated sales incentives continue to put downward pressure on net selling prices.

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