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Lennar Corp. reports lower Q4 2024 earnings and falling new home orders amid rising mortgage rates.
Lennar Corporation, a major U.S. homebuilder, reported lower-than-expected Q4 2024 results with revenue at $9.95 billion and net earnings of $1.1 billion.
New home orders dropped by 3% to 16,895, while deliveries fell 7% year-over-year.
Despite rising mortgage rates, the company maintains a strong financial position with $4.7 billion in cash and plans to acquire Rausch Coleman Homes in early 2025.
Lennar's shares fell 7.49% post-reporting.
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Lennar Corp. reporta menores ganancias Q4 2024 y caída de nuevos pedidos caseros en medio del aumento de las tasas hipotecarias.