Lennar Corporation reported strong Q2 2024 results with net earnings per diluted share increasing 15% to $3.45. Net earnings rose 9% to $954 million, while new orders grew 19% to 21,293 homes. Deliveries increased 15% to 19,690 homes with total revenues of $8.8 billion.Homebuilding operating earnings reached $1.3 billion with a gross margin on home sales of 22.6% and net margin of 15.1%. The company maintained a strong financial position with $3.6 billion in cash and a 7.7% homebuilding debt-to-capital ratio. Lennar repurchased $603 million of common stock and repaid $554 million in senior notes during the quarter.Looking ahead to Q3, Lennar expects to deliver 20,500-21,000 homes with a gross margin of approximately 23%. The company remains focused on delivering 80,000 homes for the full year while maintaining consistent margins. Management expressed optimism about current execution and future prospects amid evolving market conditions and macroeconomic trends.

Lennar Corporation reported strong Q2 2024 results with net earnings per diluted share increasing 15% to $3.45. Net earnings rose 9% to $954 million, while new orders grew 19% to 21,293 homes. Deliveries increased 15% to 19,690 homes with total revenues of $8.8 billion.Homebuilding operating earnings reached $1.3 billion with a gross margin on home sales of 22.6% and net margin of 15.1%. The company maintained a strong financial position with $3.6 billion in cash and a 7.7% homebuilding debt-to-capital ratio. Lennar repurchased $603 million of common stock and repaid $554 million in senior notes during the quarter.Looking ahead to Q3, Lennar expects to deliver 20,500-21,000 homes with a gross margin of approximately 23%. The company remains focused on delivering 80,000 homes for the full year while maintaining consistent margins. Management expressed optimism about current execution and future prospects amid evolving market conditions and macroeconomic trends.