Lennar Stock News

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It's the Christmas season. Warren Buffett may not realize it, but he's the Santa Claus of investing.

Lennar Corporation (NYSE:LEN ) Q4 2024 Results Conference Call December 19, 2024 11:00 AM ET Company Participants David Collins - Vice President & Controller Stuart Miller - Executive Chairman & Co-Chief Executive Officer Jon Jaffe - Co-Chief Executive Officer & President Diane Bessette - Chief Financial Officer Fred Rothman - Chief Operating Officer Marshall Ames - Chairman, Lennar Charitable ...

Lennar Corporation's Q4 and full-year 2024 results missed expectations, with revenues down 9% y/y and EPS down 15% y/y, leading to a 6% share price drop. Management's guidance for Q1 2025 was disappointing, with new orders and deliveries expected to be lower than consensus estimates, reflecting ongoing market challenges. The relationship between Fed rate cuts and mortgage rates is complex, with...

Shares of home construction stock Lennar Corp (NYSE:LEN) are 2.7% lower at $141.98 today, and earlier hit an annual bottom of $135.21.

Lennar said higher mortgage rates have hurt sales, but the home builder also acknowledged that it needs to cut prices more to reignite buying.

Shares of Lennar (LEN) fell Thursday, a day after the home builder posted weaker-than-expected results and guidance as high mortgage rates limited sales.

Lennar's shares have dropped 25% in three months, with weak earnings and rising mortgage rates further pressuring the stock, now down 10% from its March peak. Q4 deliveries fell 7%, and new orders missed guidance by a significant margin, indicating a dramatic market slowdown due to higher rates. Lennar's strong balance sheet and planned spin-off of land assets into Millrose Properties offer som...