Lennar reports third quarter 2023 results

Net earnings per diluted share of $3.87 $3.91, excluding mark-to-market losses on technology investments net earnings of $1.1 billion deliveries increased 8% to 18,559 homes new orders increased 37% to 19,666 homes; new orders dollar value increased 30% to $8.6 billion backlog of 21,321 homes with a dollar value of $9.9 billion total revenues of $8.7 billion homebuilding operating earnings of $1.5 billion gross margin on home sales of 24.4% s,g&a expenses as a % of revenues from home sales of 7.0% net margin on home sales of 17.4% financial services operating earnings of $148 million multifamily operating loss of $9 million lennar other operating loss of $26 million homebuilding cash and cash equivalents of $3.9 billion years supply of owned homesites of 1.5 years and controlled homesites of 73% no outstanding borrowings under the company's $2.6 billion revolving credit facility homebuilding debt to total capital of 11.5% redeemed $425 million of 5.875% homebuilding senior notes due november 2024 repurchased $50 million aggregate principal amount of senior notes due in fiscal year 2024 repurchased 3 million shares of lennar common stock for $366 million miami , sept. 14, 2023 /prnewswire/ -- lennar corporation (nyse: len and len.b), one of the nation's leading homebuilders, today reported results for its third quarter ended august 31, 2023.
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