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Lennar Corp (LENb.N)

LENb.N on New York Stock Exchange

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Latest Key Developments (Source: Significant Developments)

Gamco says may discuss with Lennar other alternatives to eliminate discount between co's Class A and Class B shares
Wednesday, 2 Aug 2017 05:23pm EDT 

Aug 2 (Reuters) - Lennar Corp :Gamco says may discuss with Lennar Corp other alternatives to eliminate discount between co's Class A shares and co's Class B shares - sec filing.  Full Article

Lennar says is on track to deliver 29,500-30,000 homes in FY 2017 - Conf call
Tuesday, 20 Jun 2017 12:08pm EDT 

June 20 (Reuters) - Lennar Corp :Says expects each of its big business segments to continue to grow in the back half of 2017.Says it is on track to deliver 22.0-22.5 percent gross margins for full year.Says its focus on deliverable inventory resulted in an acceleration of home deliveries that were previously expected in Q3.Says on track to deliver 29,500-30,000 homes in FY 2017.Says increasing average sales price forecast for home sold in fy 2017 to $370,000-$375,000 from $365,000-$370,000.Says there is a smaller population of homes available for delivery in Q3, give that it accelerated closings from Q3 into Q2.  Full Article

Lennar Q2 EPS $0.91
Tuesday, 20 Jun 2017 06:00am EDT 

June 20 (Reuters) - Lennar Corp ::Lennar reports second quarter EPS of $0.91.Lennar reports second quarter EPS of $0.91.Q2 earnings per share $0.91.Q2 revenue $3.3 billion versus I/B/E/S view $2.87 billion.Q2 earnings per share view $0.78 -- Thomson Reuters I/B/E/S.Lennar Corp - qtrly deliveries of 7,710 homes - up 15%.Lennar Corp - qtrly new orders of 8,898 homes - up 12%.Lennar Corp quarter-end backlog of 10,201 homes - up 13%; quarter-end backlog dollar value of $4.0 billion - up 20%.Lennar Corp qtrly gross margin on home sales of 21.5%, compared to 23.1%, improved sequentially 40 basis points from Q1 2017.Lennar Corp says 3% increase in average sales price of homes delivered in q2.  Full Article

Lennar amended credit agreement governing its unsecured revolving credit facility
Monday, 22 May 2017 05:48pm EDT 

May 22 (Reuters) - Lennar Corp :Lennar Corp - on may 18, co amended credit agreement governing its unsecured revolving credit facility to increase maximum potential borrowings.Lennar Corp says amended to increase maximum potential borrowings from $1.8 billion to $2.0 billion - sec filing.Lennar Corp - amended to extend maturity of class a lenders' commitments, which are currently $1.4 billion of credit facility, from June 2020 to June 2022.Lennar Corp - class b lenders' commitments, terminate in June 2018, and class c lender's commitment, terminates in June 2020.  Full Article

U.S. court of appeals affirms earlier judgment in favor of iStar
Friday, 14 Apr 2017 08:00am EDT 

iStar Inc : US court of appeals affirms judgment in favor of iStar . Court affirmed judgment in matter of U.S. Home Corporation v. Settlers Crossing, L.L.C., iStar Inc. et al . Court determined that company was entitled to specific performance from Lennar in amount of remaining $114 million purchase price due under land contract .Court also determined company entitled to interest on unpaid amounts at rate of 12.0% per annum from and after May 27, 2008 until paid, of about $121 million.  Full Article

Lennar reports one-time charge for litigation from 2008
Monday, 10 Apr 2017 07:30am EDT 

Lennar Corp : Lennar reports one-time charge for litigation from 2008 . Lennar Corp - Recorded a litigation accrual which will result in Q1 net earnings being lower than $130.8 million, or $0.56 per diluted share . Based on court hearing co now believes it is appropriate to record a one-time charge of $140 million for the litigation .Lennar Corp - In addition to accrual, company would purchase property which is subject of litigation for $114 million.  Full Article

GAMCO Asset Management Inc reports 6.01 pct stake in Lennar Corp
Wednesday, 29 Mar 2017 06:29am EDT 

Lennar Corp : GAMCO Asset Management Inc reports 6.01 percent stake in Lennar Corp as on March 28, 2017 . GAMCO-To vote for maintaining lennar's existing voting structure,will vote "against" proposal requesting all of co's outstanding stock have one-vote/share . GAMCO - may also discuss with Lennar Corp other alternatives to eliminate discount between co's class B and class A shares .GAMCO- Plans to have conversations with Lennar,class B stockholders for proposal to provide class B stockholders with right to convert shares into class A shares.  Full Article

Lennar reaffirms 2017 gross margin forecast
Tuesday, 21 Mar 2017 12:04pm EDT 

Lennar Corp : "Year-end margin will still be right on top of our guidance" - CEO on conf call . "Planning to build both WCI and Lennar brands in some of our larger communities" - conf call . "Our 2017 growth rates should be on the higher side of our goals or little over that goal" - CEO on conf call . FivePoint "might just find a window to go public" amid current market optimism - conf call . Sees Q2 gross margin between 21 percent and 21.5 percent after impact from writing up WCI's backlog in purchase accounting- conf call . Expect to deliver between 29,500 and 30,000 homes for 2017 - conf call Further company coverage: [LEN.N] ((Bangalore.newsroom@thomsonreuters.com;)).  Full Article

Lennar reports Q1 EPS $0.56
Tuesday, 21 Mar 2017 06:00am EDT 

Lennar Corp : Lennar reports first quarter EPS of $0.56 . Q1 earnings per share $0.56 . Q1 revenue $2.3 billion versus I/B/E/S view $2.19 billion . Q1 earnings per share view $0.55 -- Thomson Reuters I/B/E/S . Lennar Corp qtrly deliveries of 5,453 homes - up 13% . quarter-End backlog of 9,017 homes - up 18% . Qtrly gross margin on home sales of 21.1%, compared to 22.7% . Lennar Corp qtrly new orders dollar value of $2.4 billion - up 16% .Average sales price of homes delivered was $365,000 in q1 of 2017, consistent with q1 of 2016.  Full Article

Lennar CEO Stuart Miller's total compensation $19.2 mln for 2016
Tuesday, 7 Mar 2017 06:33am EST 

Lennar Corp : Lennar corp - ceo stuart miller's total compensation for 2016 was $19.2 million versus $17.9 million in 2015 - sec filing .Lennar corp - president rick beckwitt's total compensation for 2016 was $17.2 million for 2016 versus $16 million in 2015.  Full Article

BRIEF-Gamco says may discuss with Lennar other alternatives to eliminate discount between co's Class A and Class B shares

* Gamco says may discuss with Lennar Corp other alternatives to eliminate discount between co's Class A shares and co's Class B shares - sec filing Source text for Eikon: Further company coverage: