Shares fell after the homebuilder reported its third quarter results were impacted by higher rates. Revenue totaled $8.9 billion for the quarter, missing Wall Street’s estimate of $9.04 billion. Net earnings per diluted share increased 11% to $5.03.
New orders decreased 12% to 14,366 homes as mortgage rates continued to climb. Despite the slowdown, Lennar Executive Chairman Stuart Miller remained optimic, writing in the release, “Sales have clearly been impacted by ri...