Lennar Corp Class A

LEN: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$976.00	Xctmh	Wvrnjsl

Lennar Earnings: Incentives Continue to Support Steady Sales Pace; Portfolio Shift Moves Forward

Brian Bernard

Jun 18, 2024

Lennar's fiscal second-quarter (as of May 31) earnings report was largely in line with our expectations. Homeownership affordability remains challenging for many prospective buyers, with the average 30-year fixed mortgage rate persisting around 7%. Nevertheless, Lennar continues to enjoy a steady sales pace, supported by its use of sales incentives and less competition from the supply-constrained existing for-sale market.

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