Lennar warns of hurricane-related delays to new-home deliveries

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Hurricanes Harvey and Irma to Delay Lennar’s Home Deliveries. The company said it had 7,610 new orders and 7,598 deliveries for the third quarter ended Aug 31. This represents an increase of 8% and 12%, respectively, year over year. Hurricane Harvey impacted about 120 new orders and deliveries during the quarter,

Builders active in the market, including Lennar, GL Homes, and 13th floor homes, anticipate that sales will soften in the last quarter of the year but will bounce back by early 2018. Lennar estimates that approximately 700 deliveries will be delayed in the fourth quarter due to the impact of Irma.

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Lennar Provides Third Quarter 2017 New Orders and Deliveries, as Well as an Update on Recent Storms

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How to prepare your Tampa Bay home for a hurricane or. – Lennar is the only homebuilder with a dedicated Quality Assurance Department to ensure each new home meets the highest quality standards. Our homes are built to withstand the elements with such features as resilient cement block construction and durable outswing style doors designed to be airtight and keep water from getting inside the home.

Lennar Corp. anticipates that hurricane-related damage will delay its new-home deliveries temporarily, adding to home-inventory challenges in the mortgage market in the short-term. Homebuilders Bonnie Sinnock September 14, 2017

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New home orders increased 8% and new order dollar value increased 14% for the quarter. And as we disclosed a few weeks ago, there were approximately 120 new home orders that were impacted due to.

Lennar will likely continue to benefit from its scale as one of the largest homebuilders in the U.S., and management’s share repurchases should boost earnings per share over time — it has a lot.