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Lennar Corp (LEN.N)

LEN.N on New York Stock Exchange

42.00USD
7 Dec 2018
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Latest Key Developments (Source: Significant Developments)

Third Point Dissolves Share Stake In BlackRock, NXP Semiconductors
Friday, 9 Nov 2018 

Nov 9 (Reuters) - Third Point LLC::THIRD POINT LLC DISSOLVES SHARE STAKE IN BLACKROCK INC.THIRD POINT LLC DISSOLVES SHARE STAKE IN SHERWIN-WILLIAMS CO.THIRD POINT LLC DISSOLVES SHARE STAKE IN NXP SEMICONDUCTORS NV.THIRD POINT LLC UPS SHARE STAKE IN CONSTELLATION BRANDS INC CLASS A SHARES BY 20 PERCENT TO 2.4 MILLION SHARES.THIRD POINT LLC CUTS SHARE STAKE IN LENNAR CORP CLASS A SHARES BY 13.8 PERCENT TO 5.17 MILLION SHARES - SEC FILING.THIRD POINT LLC SAYS CHANGE IN HOLDINGS ARE AS OF SEPTEMBER 30, 2018 AND COMPARED WITH THE PREVIOUS QUARTER ENDED AS OF JUNE 30, 2018.  Full Article

Lennar Agrees To Sell Rialto Management Business
Monday, 29 Oct 2018 

Oct 29 (Reuters) - Lennar Corp ::PRESS RELEASE - LENNAR AGREES TO SELL RIALTO MANAGEMENT BUSINESS.LENNAR CORP - DEAL FOR $340 MILLION.LENNAR - WILL RETAIN RIALTO MORTGAGE FINANCE BUSINESS, WHICH LENNAR EXPECTS WILL MOVE INTO ITS FINANCIAL SERVICES BUSINESS AT BEGINNING OF FISCAL 2019.LENNAR - AGREED TO SELL RIALTO INVESTMENT AND ASSET MANAGEMENT BUSINESS TO INVESTMENT FUNDS MANAGED BY STONE POINT CAPITAL.LENNAR CORP - RIALTO INVESTMENT AND ASSET MANAGEMENT BUSINESS WILL CONTINUE TO BE LED BY ITS CURRENT MANAGEMENT..LENNAR CORP - WILL ALSO RETAIN ITS FUND INVESTMENTS ALONG WITH CARRIED INTERESTS IN VARIOUS RIALTO FUNDS.  Full Article

Lennar Sets Quarterly Cash Dividend Of $0.04 Per Share
Thursday, 4 Oct 2018 

Oct 4 (Reuters) - Lennar Corp ::SETS QUARTERLY CASH DIVIDEND OF $0.04PER SHARE.  Full Article

Lennar Q3 EPS $1.61 Excluding Items
Wednesday, 3 Oct 2018 

Oct 3 (Reuters) - Lennar Corp ::LENNAR REPORTS THIRD QUARTER EPS OF $1.37.Q3 EARNINGS PER SHARE $1.61 EXCLUDING ITEMS.Q3 EARNINGS PER SHARE $1.37.Q3 REVENUE $5.7 BILLION VERSUS I/B/E/S VIEW $5.64 BILLION.Q3 EARNINGS PER SHARE VIEW $1.19 -- THOMSON REUTERS I/B/E/S.REVENUES FROM HOME SALES INCREASED 83% IN Q3 OF 2018 TO $5.2 BILLION FROM $2.8 BILLION IN Q3 OF 2017.QTRLY DELIVERIES OF 12,613 HOMES - UP 66%.GROSS MARGINS ON HOME SALES WERE $1.1 BILLION, OR 20.3%, IN Q3 OF 2018.QUARTER-END BACKLOG OF 19,220 HOMES - UP 88%.QTRLY NEW ORDERS OF 12,319 HOMES - UP 62%.QTRLY NEW ORDERS DOLLAR VALUE OF $5.1 BILLION - UP 73%.AVERAGE SALES PRICE OF HOMES DELIVERED WAS $415,000 IN Q3 OF 2018, COMPARED TO $375,000 IN Q3 OF 2017.REMAIN RIGHT ON TRACK TO ACHIEVE SYNERGY GOALS RELATED TO CALATLANTIC.WITH CALATLANTIC INTEGRATION SUBSTANTIALLY COMPLETED, KEENLY FOCUSED ON DIRECT CONSTRUCTION COST SAVINGS.BELIEVE "VERY WELL POSITIONED" TO CONTINUE STRONG PERFORMANCE HEADING TOWARDS END OF 2018 & INTO 2019.LENNAR - DURING 3 & 9 MONTHS ENDED AUGUST 31, 2018, CO RECORDED $12.0 MILLION & $140.1 MILLION, RESPECTIVELY, OF CALATLANTIC ACQUISITION & INTEGRATION COSTS.  Full Article

Lennar Sets Quarterly Cash Dividend Of $0.04/Share
Wednesday, 27 Jun 2018 

June 27 (Reuters) - Lennar Corp ::SETS QUARTERLY CASH DIVIDEND OF $0.04PER SHARE.  Full Article

Lennar Reports Q2 EPS Of $0.94
Tuesday, 26 Jun 2018 

June 26 (Reuters) - Lennar Corp ::LENNAR REPORTS SECOND QUARTER EPS OF $0.94.Q2 EARNINGS PER SHARE $1.58 EXCLUDING ITEMS.Q2 EARNINGS PER SHARE $0.94.Q2 REVENUE $5.5 BILLION VERSUS I/B/E/S VIEW $5.11 BILLION.Q2 EARNINGS PER SHARE VIEW $0.45 -- THOMSON REUTERS I/B/E/S.QTRLY DELIVERIES OF 12,095 HOMES – UP 57%.REVENUES FROM HOME SALES INCREASED 74% IN Q2 OF 2018 TO $5.0 BILLION.QTRLY NEW ORDERS OF 14,440 HOMES – UP 62%.QTRLY NEW ORDERS DOLLAR VALUE OF $6.0 BILLION – UP 79%.QUARTER-END BACKLOG OF 19,622 HOMES – UP 92%.QTRLY AVERAGE SALES PRICE OF HOMES DELIVERED WAS $413,000 IN Q2 OF 2018, COMPARED TO $374,000 IN Q2 OF 2017.QTRLY GROSS MARGINS ON HOME SALES WERE $840.0 MILLION, OR 16.8%, IN Q2 OF 2018.DURING QUARTER ENDED MAY 31, RECORDED $23.9 MILLION OF ACQUISITION AND INTEGRATION COSTS RELATED TO MERGER WITH CALATLANTIC.  Full Article

Lennar's Board Of Directors Elects New Executive Positions
Thursday, 12 Apr 2018 

April 12 (Reuters) - Lennar Corp ::LENNAR'S BOARD OF DIRECTORS ELECTS NEW EXECUTIVE POSITIONS.BOARD HAS ELECTED STUART MILLER, RICK BECKWITT, JON JAFFE, BRUCE GROSS AND DIANE BESSETTE TO NEW EXECUTIVE POSITIONS WITH COMPANY.STUART MILLER WILL CONTINUE HIS LEADERSHIP ROLE WITH LENNAR AS NEWLY APPOINTED EXECUTIVE CHAIRMAN.RICK BECKWITT HAS BEEN ELECTED AS NEW CHIEF EXECUTIVE OFFICER OF LENNAR.DIANE BESSETTE HAS BEEN ELECTED AS NEW CHIEF FINANCIAL OFFICER OF LENNAR AND WILL CONTINUE AS COMPANY'S TREASURER.JON JAFFE HAS BEEN ELECTED AS NEW PRESIDENT OF LENNAR.JAFFE WILL CONTINUE AS COMPANY'S CHIEF OPERATING OFFICER.JAFFE WAS ALSO ELECTED TO LENNAR BOARD OF DIRECTORS.ELECTED BRUCE GROSS AS NEW CHIEF EXECUTIVE OFFICER OF LENNAR FINANCIAL SERVICES.  Full Article

Lennar Announces Commencement Of Exchange Offers
Friday, 19 Jan 2018 

Jan 19 (Reuters) - Lennar Corp ::LENNAR ANNOUNCES COMMENCEMENT OF EXCHANGE OFFERS AND CONSENT SOLICITATIONS FOR CALATLANTIC NOTES.LENNAR CORP - STARTED OFFERS TO EXCHANGE OUTSTANDING CALATLANTIC NOTES FOR UP TO $3.0 BILLION OF NEW NOTES ISSUED BY CO AND CASH.  Full Article

Lennar Sees FY 2018 Gross Margin About 22 Pct VS 22.1 Pct In FY 2017 - Conf Call‍​
Wednesday, 10 Jan 2018 

Jan 10 (Reuters) - Lennar Corp ::LENNAR CORP SAYS THE “STRATEGIC” TRANSACTION THAT SHIFTED FROM Q4 TO Q1 2018, WILL PRODUCE MORE THAN THE Q4 SHORTFALL IN Q1 - CONF CALL‍​.LENNAR SAYS CONCERNS ABOUT CAPS ON DEDUCTION OF INTEREST PAYMENT ON MORTGAGE DEBT AND STATE AND LOCAL TAX AS PART OF THE TAX REFORM, SEEM TO BE OFFSET BY OPTIMISTIC MOMENTUM AROUND ECONOMIC GROWTH- CONF CALL‍​.LENNAR SAYS IT HAS STUDIED SPECIFIC IMPACTS OF THE TAX LAW ON ITS TYPICAL BUYER PROFILE IN EACH MARKET, AND FOUND THAT THE EFFECT IS GENERALLY POSITIVE AT THEIR INCOME LEVELS- CONF CALL‍​.LENNAR ANTICIPATES CLOSING THE MERGER WITH CALATLANTIC ON FEB. 12, 2018 - CONF CALL‍​.LENNAR SEES FY 2018 HOME DELIVERIES BETWEEN 32,000 AND 32,500 UNITS VERSUS 29,394 UNITS IN FY 2017 - CONF CALL‍​.LENNAR EXPECTS FY 2018 OPERATING MARGINS TO MATCH THE 2017 LEVEL OF 12.9 PERCENT - CONF CALL‍​.LENNAR SEES FY 2018 GROSS MARGIN TO BE ABOUT 22 PERCENT VERSUS 22.1 PERCENT IN FY 2017 - CONF CALL‍​.  Full Article

Lennar Reports Fourth Quarter EPS Of $1.29
Wednesday, 10 Jan 2018 

Jan 10 (Reuters) - Lennar Corp ::QTRLY REVENUES OF $3.8 BILLION - UP 12%.IN QUARTER 8% INCREASE IN AVERAGE SALES PRICE OF HOMES DELIVERED.QTRLY DELIVERIES OF 8,633 HOMES - UP 5%.QUARTER-END BACKLOG OF 8,935 HOMES - UP 17%; QUARTER-END BACKLOG DOLLAR VALUE OF $3.6 BILLION - UP 23%.QTRLY NEW ORDERS OF 7,357 HOMES - UP 12%; NEW ORDERS DOLLAR VALUE OF $2.8 BILLION - UP 18%.TAX REFORM BILL WILL REDUCE EFFECTIVE TAX RATE IN 2018 FROM 34% TO ABOUT 25%.LENNAR - EXCLUDED FROM 2018 EFFECTIVE TAX RATE IS 1-TIME NON-CASH WRITE-DOWN OF DEFERRED TAX ASSETS OF ABOUT $70 MILLION WHICH WILL BE RECORDED IN Q1 2018.LENNAR REPORTS FOURTH QUARTER EPS OF $1.29.Q4 EARNINGS PER SHARE $1.29.Q4 EARNINGS PER SHARE VIEW $1.48 -- THOMSON REUTERS I/B/E/S.QTRLY GROSS MARGIN ON HOME SALES OF 22.4%, COMPARED TO 23.3%.LENNAR - ONE-TIME NON-CASH WRITE-DOWN OF DEFERRED TAX ASSETS, WHICH WILL BE RECORDED IN Q1 OF 2018, WAS AS RESULT OF LOWER EFFECTIVE TAX RATE."MISSED Q4, BOTTOM-LINE GUIDANCE BECAUSE A SINGLE, STRATEGIC TRANSACTION SHIFTED INTO Q1 OF 2018".LENNAR - "ENTHUSIASM FOR STRENGTH OF ECONOMY, COMBINED WITH ADDED TAILWINDS OF RECENT TAX LAW CHANGES, CONTINUE TO PROPEL HOUSING MARKET FORWARD".Q4 REVENUE VIEW $3.57 BILLION -- THOMSON REUTERS I/B/E/S.IN DEC 2017, TAX CUTS AND JOBS ACT WAS ENACTED WHICH WILL HAVE A POSITIVE IMPACT ON CO'S EFFECTIVE TAX RATE IN 2018, SUBSEQUENT YEARS.  Full Article

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Toll Brothers orders slump for first time in more than four years

U.S. luxury home builder Toll Brothers Inc on Tuesday reported its first fall in quarterly orders in more than four years as rising mortgage rates and higher home prices hit demand, sending its shares down as much as 10 percent.