Lennar Corporation reported a strong first quarter with significant increases in deliveries, new orders, and revenue. Net earnings attributable to Lennar were $398.5 million, or $1.27 per diluted share, compared to $239.9 million, or $0.74 per diluted share in the prior year. The company has suspended guidance due to the economic uncertainty.
Net earnings per diluted share increased to $1.27 from $0.74.
Home deliveries rose by 17% to 10,321 homes.
New orders increased by 18% to 12,376 homes, with a dollar value of $5.0 billion, up 20%.
Total revenues increased by 16% to $4.5 billion.
Lennar has suspended its forward guidance due to the economic uncertainty caused by widespread shutdowns.
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