Lennar reported second-quarter revenue of US$7,939.87 million and net income of US$304.77 million, with earnings per share from continuing operations declining to US$1.24 from US$1.81 a year earlier. Despite the weaker performance, the homebuilder completed a multi-year share repurchase program totaling nearly US$5.97 billion, retiring about 18.04% of its shares. The company also maintained its regular US$0.50 dividend. The share price has fallen about 16% year to date, and fair value estimates from the Simply Wall St community range from roughly US$47 to US$130, reflecting wide disagreement on the stock's worth.
Lennar CorporationLennar reported softer Q2 earnings with EPS declining from $1.81 to $1.24, indicating weaker financial performance.