Lennar Stock Falls On Soft Deliveries Outlook: What To Know

Lennar beat analysts' expectations for its fiscal second quarter but said it expects lower-than-anticipated deliveries in Q3. Here's what you need to know.

A banner hanging at a Lennar Bridgeway home development in Newark, California
(Image credit: Justin Sullivan/Getty Images)

Lennar (LEN) stock is lower Tuesday after the homebuilder beat analysts' expectations for its fiscal second-quarter results but issued a soft deliveries outlook for its fiscal third quarter.

In the three months ended May 31, Lennar's revenue increased 9% year-over-year to $8.8 billion. The boost in sales was driven by a 15% jump in deliveries to 19,690 homes, while new orders were up 19% to 21,293 homes. 

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Joey Solitro
Contributor

Joey Solitro is a freelance financial journalist at Kiplinger with more than a decade of experience. A longtime equity analyst, Joey has covered a range of industries for media outlets including The Motley Fool, Seeking Alpha, Market Realist, and TipRanks. Joey holds a bachelor's degree in business administration.