2024 Fourth Quarter Highlights– comparisons to the prior year quarter

Net earnings per diluted share of $4.06 ($4.03, excluding mark-to-market gains on technology investments)Net earnings of $1.1 billionNew orders decreased 3% to 16,895 homes; new orders dollar value decreased 1% to $7.2 billionBacklog of 11,633 homes with a dollar value of $5.4 billionDeliveries decreased 7% to 22,206 homesTotal revenues of $9.9 billionHomebuilding operating earnings of $1.5 billionGross margin on home sales of 22.1%S,G&A expenses as a % of revenues from home sales of 7.2%Net margin on home sales of 14.9%Financial Services operating earnings of $154 millionMultifamily operating loss of $0.2 millionLennar Other operating earnings of $0.5 millionHomebuilding cash and cash equivalents of $4.7 billionYears supply of owned homesites of 1.1 years and controlled homesites of 82%No outstanding borrowings under the Company's $2.9 billion revolving credit facilityHomebuilding debt to total capital of 7.5%Repurchased 3 million shares of Lennar common stock for $521 millionIn November 2024, the Company entered into a definitive agreement to acquire Rausch Coleman Homes, a residential homebuilder, which is expected to close in the first quarter of 2025

MIAMI, Dec. 18, 2024 /PRNewswire/ -- Lennar Corporation (NYSE: LEN and LEN.B) ("Lennar"), one of the nation's leading homebuilders, announced that its recently formed subsidiary, Millrose Properties, Inc. ("Millrose"), has filed with the Securities and Exchange Commission a registration statement under the Securities Act of 1933 on Form S-11 relating to a planned spin-off consisting of a contribution by Lennar to Millrose of land and cash and a distribution of Millrose's stock to Lennar's stockholders (the "Spin-Off"). The planned Spin-Off is subject to final approval from the Lennar Board of Directors and other customary conditions.

MIAMI, Dec. 5, 2024 /PRNewswire/ -- Lennar Corporation (NYSE: LEN and LEN.B), one of the nation's largest homebuilders, announced today that the Company will release earnings for the fourth quarter ended November 30, 2024 after the market closes on December 18, 2024. Additionally, the Company will hold a conference call on December 19, 2024 at 11:00 a.m. Eastern Time.

The call will be broadcast live on the Internet and can be accessed through Lennar's website at investors.lennar.com. If you are unable to participate during the live webcast, the call will be archived at investors.lennar.com for 90 days. 

DALLAS, Dec. 5, 2024 /PRNewswire/ -- Lennar, one of the nation's leading homebuilders, today announced plans to equip select Lennar communities in the Austin and Dallas-Fort Worth area with home backup battery systems by Base Power. Through this collaboration, Lennar homeowners will have the opportunity to register for Base's monthly electricity service and receive a complimentary Base backup battery. This will provide outage protection and energy bill savings for the homeowners.

Luxury community infuses 328-home premier apartment homes into Bay Area

FREMONT, Calif., Nov. 26, 2024 /PRNewswire/ -- Quarterra Multifamily, a subsidiary of Lennar Corporation and a vertically integrated developer, property manager, and asset manager today announced the start of leasing at Leya Apartments, the newest luxury community in California's Bay Area.

Leya is a 328-home mid-rise community in the Warm Springs neighborhood of Fremont, a vibrant neighborhood known for its scenic beauty and rich history. Nestled against the foothills, Warm Springs offers a blend of suburban tranquility and urban convenience. The area is home to a balance of quality jobs and schools, exceptional parks and recreational opportunities, and holds appeal for all renters.

MIAMI, Nov. 19, 2024 /PRNewswire/ -- Lennar Corporation (NYSE: LEN and LEN.B) announced today that it has entered into a definitive agreement to acquire Rausch Coleman Homes, a residential homebuilder based in Fayetteville, Arkansas. Lennar will acquire Rausch Coleman's homebuilding operations, which expects to deliver approximately 5,000 homes with an average sales price of $230,000 in calendar year 2024.

In connection with Lennar's land light strategy, Lennar intends to assign the purchase of, and option, all of Rausch Coleman's land assets with a third party. 

High-Rise Community Offers the Closest Luxury Living to the Water in Sarasota Bay

SARASOTA, Fla., Nov. 14, 2024 /PRNewswire/ -- Quarterra Multifamily, a subsidiary of Lennar Corporation and a multifamily apartment developer, property manager, and asset manager, today announced the start of leasing at Cordelia, a luxury high-rise community in Downtown Sarasota, Fla., on Sarasota Bay. 

 Emblem community to add 288 apartment homes to bolster attainable housing options in Summerville, S.C.

SUMMERVILLE, S.C., Oct. 1, 2024 /PRNewswire/ -- Quarterra Multifamily, a subsidiary of Lennar Corporation and a multifamily apartment developer, property manager, and asset manager, today announced the start of construction at Emblem Summerville, an attainably priced community located in the historic city of Summerville, South Carolina, 25 miles northwest of Charleston. 

MIAMI, Sept. 25, 2024 /PRNewswire/ -- Lennar Corporation (NYSE: LEN and LEN.B), one of the nation's leading homebuilders, announced that its Board of Directors has declared a quarterly cash dividend of $0.50 per share for both Class A and Class B common stock payable on October 24, 2024 to holders of record at the close of business on October 9, 2024.

About LennarLennar Corporation, founded in 1954, is one of the nation's leading builders of quality homes for all generations. Lennar builds affordable, move-up and active adult homes primarily under the Lennar brand name. Lennar's Financial Services segment provides mortgage financing, title and closing services primarily for buyers of Lennar's homes and, through LMF Commercial, originates mortgage loans secured primarily by commercial real estate properties throughout the United States. Lennar's Multifamily segment is a nationwide developer of high-quality multifamily rental properties. LENX drives Lennar's technology, innovation and strategic investments. For more information about Lennar, please visit www.lennar.com.

Third Quarter 2024 Highlights - comparisons to the prior year quarter

Net earnings per diluted share increased 10% to $4.26$3.90, excluding mark-to-market gains on technology investments and one-time items in the Company's Multifamily segmentNet earnings increased 5% to $1.2 billionNew orders increased 5% to 20,587 homesBacklog of 16,944 homes with a dollar value of $7.7 billionDeliveries increased 16% to 21,516 homesTotal revenues of $9.4 billionHomebuilding operating earnings of $1.5 billionGross margin on home sales of 22.5%S,G&A expenses as a % of revenues from home sales of 6.7%Net margin on home sales of 15.8%Financial Services operating earnings of $144 millionMultifamily operating earnings of $79 millionLennar Other operating earnings of $20 millionHomebuilding cash and cash equivalents of $4.0 billionYears supply of owned homesites of 1.1 years and controlled homesites of 81%No outstanding borrowings under the Company's $2.2 billion revolving credit facilityHomebuilding debt to total capital of 7.6%Repurchased 3.4 million shares of Lennar common stock for $519 million

Redmond, Wash. community features 284 luxury homes in Marymoor Village

REDMOND, Wash., Sept. 18, 2024 /PRNewswire/ -- Quarterra Multifamily, a subsidiary of Lennar Corporation and a multifamily apartment developer, property manager, and asset manager, today announced the start of leasing at The Piper. Developed in partnership with QuadReal Property Group ("QuadReal"), a global real estate investment, operating and development company, The Piper is a luxury rental community located along Marymoor Park in Redmond, Washington.

Suburban Atlanta community to add 324 new homes to burgeoning metro district, help with attainable housing shortage

MCDONOUGH, Ga., Sept. 12, 2024 /PRNewswire/ -- Quarterra Multifamily, a subsidiary of Lennar Corporation and a multifamily apartment developer, property manager, and asset manager, today announced construction on Emblem Mill Road, an attainably priced community located in McDonough, Georgia, southeast of Atlanta.

MIAMI, Sept. 5, 2024 /PRNewswire/ -- Lennar Corporation (NYSE: LEN and LEN.B), one of the nation's largest homebuilders, announced today that the Company will release earnings for the third quarter ended August 31, 2024 after the market closes on September 19, 2024. Additionally, the Company will hold a conference call on September 20, 2024 at 11:00 a.m. Eastern Time.

The call will be broadcast live on the Internet and can be accessed through Lennar's website at investors.lennar.com. If you are unable to participate during the live webcast, the call will be archived at investors.lennar.com for 90 days. 

Garden-style community to bring 312 homes to Summerville, S.C.

SUMMERVILLE, S.C., Sept. 4, 2024 /PRNewswire/ -- Quarterra Multifamily, a subsidiary of Lennar Corporation and a multifamily apartment developer, property manager, and asset manager, along with development partner Nuveen Real Estate today announced the opening of Emblem Cane Bay North apartment community in Summerville, S.C. 

MIAMI, June 20, 2024 /PRNewswire/ -- Lennar Corporation (NYSE: LEN and LEN.B), one of the nation's leading homebuilders, announced that its Board of Directors has declared a quarterly cash dividend of $0.50 per share for both Class A and Class B common stock payable on July 19, 2024 to holders of record at the close of business on July 5, 2024.

About Lennar

Lennar Corporation, founded in 1954, is one of the nation's leading builders of quality homes for all generations. Lennar builds affordable, move-up and active adult homes primarily under the Lennar brand name. Lennar's Financial Services segment provides mortgage financing, title and closing services primarily for buyers of Lennar's homes and, through LMF Commercial, originates mortgage loans secured primarily by commercial real estate properties throughout the United States. Lennar's Multifamily segment is a nationwide developer of high-quality multifamily rental properties. LENX drives Lennar's technology, innovation and strategic investments. For more information about Lennar, please visit www.lennar.com.

Second Quarter 2024 Highlights - comparisons to the prior year quarter

Net earnings per diluted share increased 15% to $3.45$3.38, excluding mark-to-market losses on technology investments and one-time gain on sale of a technology investmentNet earnings increased 9% to $954 millionNew orders increased 19% to 21,293 homesBacklog of 17,873 homes with a dollar value of $8.2 billionDeliveries increased 15% to 19,690 homesTotal revenues of $8.8 billionHomebuilding operating earnings of $1.3 billionGross margin on home sales of 22.6%S,G&A expenses as a % of revenues from home sales of 7.5%Net margin on home sales of 15.1%Financial Services operating earnings of $146 millionMultifamily operating loss of $20 millionLennar Other operating loss of $28 millionHomebuilding cash and cash equivalents of $3.6 billionYears supply of owned homesites of 1.2 years and controlled homesites of 79%No outstanding borrowings under the Company's $2.2 billion revolving credit facilityHomebuilding debt to total capital of 7.7%Redeemed $454 million aggregate principal amount of its 4.50% senior notes due April 2024Repurchased $100 million aggregate principal amount of its 4.75% senior notes due November 2027Repurchased 3.8 million shares of Lennar common stock for $603 million

Luxury high-rise community combines sophistication with convenience in Denver's Golden Triangle Neighborhood

DENVER, June 7, 2024 /PRNewswire/ -- Quarterra Multifamily, a subsidiary of Lennar Corporation and a vertically integrated multifamily apartment builder, developer, and property manager, today announced the start of leasing at Dryden, a luxury community that blends urban activity and walkability with the elegance and culture of Denver's thriving Golden Triangle Neighborhood. 

MIAMI, June 4, 2024 /PRNewswire/ -- Lennar Corporation (NYSE: LEN and LEN.B), one of the nation's largest homebuilders, announced today that the Company will release earnings for the second quarter ended May 31, 2024 after the market closes on June 17, 2024. Additionally, the Company will hold a conference call on June 18, 2024 at 11:00 a.m. Eastern Time.

The call will be broadcast live on the Internet and can be accessed through Lennar's website at investors.lennar.com. If you are unable to participate during the live webcast, the call will be archived at investors.lennar.com for 90 days.