Lennar (LEN) falls as margins are sacrificed to drive revenue beat
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Lennar Reports Fourth Quarter and Fiscal 2023 Results
December 14, 2023 4:34 PM EST2023 Fourth Quarter Highlights
Net earnings per diluted share of $4.82$5.17, excluding mark-to-market losses on technology investments and other one-time items (collectively, "adjustments")Net earnings of $1.4 billion ($1.5 billion excluding adjustments)New orders increased 32% to 17,366 homes; new orders dollar value increased 32% to $7.3 billion Backlog of 14,892 homes with a dollar value of $6.6 billionDeliveries increased 19% to 23,795 homesTotal revenues of $11.0 billionHomebuilding operating earnings of $1.9 billionGross margin on home sales of... More