Lennar Corporation is trading 4.1% down at $91.02 after its Q2 earnings report revealed weaker-than-expected revenue and a reduction in full-year home delivery guidance.
- New orders declined approximately 4% and gross margins compressed as the company navigates significant affordability and mortgage-rate headwinds.
- Management lowered its annual delivery outlook, signaling softer demand ahead even though earnings per share remained roughly in line with consensus expectations.