Lennar Q2 Results: Strong Performance Amid Market Challenges

Earnings: $3.38 per share, beating the estimate of $3.24 by 4.32%.
Sales: $8.77 billion, exceeding the estimate of $8.52 billion by 2.89%, up 8.95% from last year.
New Orders increased 19% to 21,293 homes.
Deliveries up 15% to 19,690 homes.
Average Sales Price: $426,000 per home, down 5% from last year.
Net Margin: 15.1% on home sales.
Backlog: 17,873 homes valued at $8.2 billion.

CEO Commentary:
Despite rising interest rates and affordability challenges, strong demand and responsive buyers led to increased orders and deliveries.
Strategy: Focused on consistent production pace and using pricing, incentives, marketing, and margin adjustments to maintain sales volume amidst fluctuating interest rates.