Financial Performance - Lennar Corporation reported first quarter net earnings of $520 million, or $1.96 per diluted share, down from $719 million, or $2.57 per diluted share in the prior year [2][3] - Excluding mark-to-market losses on technology investments, net earnings were $567 million, or $2.14 per diluted share, compared to $723 million, or $2.58 per diluted share in the previous year [2][3] - Total revenues increased to $7.6 billion, up from $7.3 billion in the prior year, driven by a 6% increase in home deliveries [4][7] Homebuilding Operations - The company delivered 17,834 homes in the first quarter, exceeding guidance, and recorded new orders of 18,355 homes, also above guidance [3][4] - The average sales price of homes delivered decreased by 1% to $408,000 compared to the previous year [4][7] - Gross margin on home sales was 18.7%, slightly below guidance, with SG&A expenses at 8.5%, resulting in a net margin of 10.2% [4][9] Strategic Initiatives - Lennar completed the spin-off of Millrose Properties, Inc., distributing approximately 80% of Millrose's stock to shareholders, which aligns with its asset-light strategy [5][14] - The acquisition of Rausch Coleman Homes expanded Lennar's market presence into new regions while maintaining an asset-light approach [5][15] - The company reported a significant improvement in its controlled homesite percentage to 98%, the highest in its history, and reduced its years supply of owned homesites to 0.2 years [5][6] Market Conditions - The homebuilding sector faced challenges due to high interest rates, inflation, and a downturn in consumer confidence, impacting affordability and access to homeownership [3][4] - The company utilized incentives, such as interest rate buydowns, to manage inventory and stimulate sales in a constrained market [4][5] Future Guidance - For the second quarter of 2025, Lennar expects to deliver between 19,500 to 20,500 homes, with an anticipated gross margin of approximately 18% [5][17] - New orders are projected to be between 22,500 to 23,500 homes, reflecting a cautious outlook amid ongoing market challenges [5][17]

SPRING, Texas, March 18, 2025 (GLOBE NEWSWIRE) -- Toll Brothers, Inc. (NYSE:TOL), the nation’s leading builder of luxury homes, is pleased to announce the release of a new phase of 30 home sites in the Woodson's Reserve - Magnolia Collection in Spring, Texas. This new phase features oversized and waterfront home sites, providing residents with a unique opportunity to enjoy luxury living in an award-winning community. Home prices start in the mid-$700,000s. Woodson's Reserve - Magnolia Collection offers six ...

Economic Data Summary - U.S. Retail Sales for February increased by +0.2%, falling short of the +0.6% expectation, with January revised down to -1.2%, the weakest since November 2022 [2] - Excluding auto sales, Retail Sales met estimates at +0.3%, with January's figure revised lower from -0.4% to -0.6% [2] - When removing autos and gasoline, the Retail Sales print was better than expected at +0.5% versus +0.4%, with January revised down from -0.5% to -0.8%, the lowest since March 2023 [3] Consumer Behavior Insights - Gas Station Sales decreased by -1%, Department Stores fell by -1.7%, Consumer Discretionary was down -0.4%, and Clothing sales dropped by -0.6%, indicating a slowdown in consumer appetites despite some economic resilience [4] Manufacturing Sector Update - The Empire State Manufacturing Survey reported its largest decline since January 2024 at -20, significantly worse than the expected -1.8, marking the second double-digit down-month of 2025 [5] Upcoming Economic Indicators - Business Inventories for January are expected to show a positive swing of +0.3% from the previous -0.2% [6] - The Home Builder Confidence Index for March is anticipated to remain steady at 42 [6] Stock Market Outlook - The Federal Open Market Committee (FOMC) is expected to maintain interest rates between 4.25-4.50% for the third consecutive month, which will be a focal point in the upcoming week [7] - Significant earnings reports are anticipated this week, including Super Micro Computer on Wednesday and FedEx and Lennar on Thursday [8]

Market Overview - Major U.S. indexes have experienced significant volatility in 2024, with the S&P 500, Dow Jones Industrial Average, and Nasdaq Composite declining by 6.12%, 4.07%, and 10.40% year-to-date, respectively [1] - Investor concerns are heightened due to potential trade wars, government shutdowns, and recession fears, influenced by President Trump's fiscal, trade, and immigration policies [1] Economic Indicators - The Consumer Price Index (CPI) rose by 0.2% in February, following a 0.5% increase in January, with an annual CPI drop of 2.8% from 3% in January [2] - Trump's tariffs have raised inflation fears and concerns about economic growth, impacting expectations for Federal Reserve interest rate cuts, which are currently between 4.25% and 4.50% [2] - The labor market remains stable, but immigration policies and layoffs threaten its stability [2] Investment Opportunities - In a volatile market, dividend-paying stocks are recommended for portfolio diversification, with notable companies including Toll Brothers, DICK'S Sporting Goods, KornFerry International, Banco Santander, and Applied Materials [3] Company Profiles Toll Brothers - Toll Brothers specializes in building various residential communities and has a Zacks Rank of 3 (Hold) [4] - The company declared a dividend of 25 cents per share, with a dividend yield of 0.9%, and has increased its dividend five times over the past five years, with a payout ratio of 7% [5] DICK'S Sporting Goods - DICK'S Sporting Goods is a major omni-channel retailer for sporting goods, holding a Zacks Rank of 3 [6] - The company announced a dividend of $1.21 per share, yielding 2.3%, and has raised its dividend seven times in the last five years, with a payout ratio of 31% [7] KornFerry International - KornFerry is a leading executive recruitment firm with a Zacks Rank of 2 (Buy) [8] - The company declared a dividend of 48 cents per share, yielding 2.2%, and has increased its dividend six times over the past five years, with a payout ratio of 31% [9] Banco Santander - Banco Santander is the largest bank in Spain, currently holding a Zacks Rank of 3 [11] - The bank declared a dividend of 8 cents per share, yielding 2.4%, and has increased its dividend seven times in the last five years, with a payout ratio of 19% [12] Applied Materials - Applied Materials is a major supplier of semiconductor fabrication equipment, with a Zacks Rank of 3 [13] - The company announced a dividend of 46 cents per share, yielding 1.1%, and has increased its dividend six times over the past five years, with a payout ratio of 18% [14]

Financial Data and Key Metrics Changes - For Q4 2024, net income was $0.7 million, which included a change in fair value of $38 million related to potential earn-out accounting [28] - Revenue for Q4 2024 was $134.8 million, up from $116.8 million in Q4 2023, while full-year revenue increased to $463.7 million from $421.5 million in 2023 [30] - Gross profit for Q4 2024 was $21.8 million with a gross profit margin of 16.2%, compared to $21.6 million and 18.5% in the prior year [32] Business Line Data and Key Metrics Changes - New home deliveries grew by 7% year-over-year, and net new home orders increased by 19% in Q4 2024 [18] - Average sales price for Q4 2024 was approximately $324,000 for 413 production-built homes, compared to $320,000 for 338 homes in the prior year [31] - Home closings in Q4 2024 were 414, up from 387 in the same quarter of the previous year [30] Market Data and Key Metrics Changes - The backlog at the end of Q4 stood at 157 homes valued at approximately $58.3 million [32] - The company faced a competitive market with high mortgage rates impacting affordability and leading to increased use of mortgage incentives [13][15] Company Strategy and Development Direction - The company is focusing on enhancing financial and operational performance and scaling operations in key Southeast markets [6] - A strategic shift towards a more balanced approach in operations was noted, with an emphasis on product redesign and cost-saving initiatives [20][26] - The company aims to improve gross margins through a re-bidding process for direct construction costs [10][12] Management's Comments on Operating Environment and Future Outlook - Management acknowledged headwinds from a competitive pricing environment and high mortgage rates but remains optimistic about long-term homebuilding prospects [13][16] - The company is positioned well in markets with strong job creation and in-migration, which are critical for new housing demand [16] - 2025 is expected to be a pivotal year for the company, with ongoing initiatives aimed at driving revenue growth and improving profitability [17] Other Important Information - The company controlled approximately 7,700 lots as of December 31, 2024, positioning it for future growth [35] - SG&A expenses for Q4 2024 were $19.3 million, with adjusted SG&A at approximately $17.7 million or 13.1% of revenue [34] Q&A Session Summary - No specific questions or answers were documented in the provided content, as the call concluded without a detailed Q&A segment [38]

Core Insights - The article discusses the world's largest 3D-printed community developed by Lennar and Icon in Georgetown, Texas, highlighting the innovative construction method and its benefits [2][3][9] Company Overview - Lennar is the second-largest homebuilder in the U.S. and has partnered with Icon, a 3D technology company, to create 100 homes in the Wolf Ranch development, with approximately 75% already sold [2][6] - Icon utilized two 40-foot robotic printers initially, increasing to 11 machines by the second year, which halved the print time and allowed for the production of two homes per week [4][10] Product Features - The 3D-printed homes feature rounded edges, solar power, and metal roofing, with a focus on durability and energy efficiency [3][6] - Homes are available in 2- and 3-bedroom models, starting at just under $400,000, and are designed to provide modern amenities comparable to traditionally built homes [6][8] Customer Experience - Residents report significant savings on utility bills, with one homeowner noting an electric bill of only $26, and express satisfaction with the durability and safety of the homes [7][8] - The aesthetic appeal and energy efficiency of the homes have attracted buyers, contributing to the community's success [8] Future Plans - Lennar plans to develop a second 3D-printed community in Texas, consisting of approximately 200 homes, with expectations of reduced costs and faster construction based on lessons learned from the first project [9][10] - The companies have seen a 50% reduction in costs and cycle times, indicating significant improvements in the housing market's adaptability and functionality [10]

Financial Data and Key Metrics Changes - For Q4 2024, net income was $0.7 million, which included a change in fair value of $38 million related to potential earn-out accounting [28] - Revenue for Q4 2024 was $134.8 million, up from $116.8 million in Q4 2023, while full-year revenue increased to $463.7 million from $421.5 million in 2023 [30] - Gross profit for Q4 2024 was $21.8 million with a gross profit margin of 16.2%, compared to $21.6 million and 18.5% in the prior year [32] Business Line Data and Key Metrics Changes - New home deliveries grew by 7% year-over-year, and net new home orders increased by 19% in Q4 2024 [18] - Average sales price for Q4 2024 was approximately $324,000 for 413 production-built homes, compared to $320,000 for 338 homes in the prior year [31] - Home closings for the full year increased to 1,431 homes, up from 1,383 homes in 2023 [30] Market Data and Key Metrics Changes - The company faced a competitive market with high mortgage rates negatively impacting affordability, leading to the use of mortgage incentives [13] - Completed inventory remains high across the industry, prompting competitors to offer substantial price discounts [14] Company Strategy and Development Direction - The company aims to enhance financial and operational performance by updating product designs to align with current market demands [7][9] - A focus on a land-light operating model is intended to reduce risks and upfront capital requirements [7] - The company is committed to improving its balance sheet and executing long-term strategic initiatives [23] Management's Comments on Operating Environment and Future Outlook - Management acknowledged short-term challenges but remains optimistic about the long-term outlook for homebuilding, citing strong housing fundamentals in key markets [16] - The company is positioned to capitalize on job creation and in-migration trends, which are critical for new home demand [16] - 2025 is expected to be a pivotal year for the company, with ongoing initiatives aimed at driving revenue growth and improving gross margins [17] Other Important Information - The company controlled approximately 7,700 lots as of December 31, 2024, positioning it for future growth [35] - SG&A expenses for Q4 2024 were $19.3 million, with adjusted SG&A at approximately $17.7 million or 13.1% of revenue [34] Q&A Session Summary - No specific questions or answers were documented in the provided content, thus this section is not applicable.

LOVELAND, Colo., March 12, 2025 (GLOBE NEWSWIRE) -- Toll Brothers, Inc. (NYSE:TOL), the nation’s leading builder of luxury homes, today announced its newest community, Riano Ridge, is coming soon to 3109 Westcliff Drive in Loveland, Colorado. Site work is underway, and the community is anticipated to open for sale in late spring 2025. The majestic Rocky Mountains provide a picturesque backdrop at Riano Ridge. With a wide selection of meticulously crafted home designs to choose from and the ability to person ...

Market Performance - The S&P 500 lost 3.1%, the Dow Jones fell about 2.4%, and the Nasdaq Composite retreated 3.5%, marking the worst week for the S&P 500 since September 2024 [1] - The Nasdaq officially entered correction territory, defined as a 10% decline from recent highs [1] - SPDR S&P 500 ETF Trust (SPY) lost 3.4% during the week [1] Employment Data - Nonfarm payrolls increased by 151,000 in February, falling short of economists' expectations of 170,000 [2] - The unemployment rate rose to 4.1%, raising concerns about economic softening [2] Trade Policy Concerns - Market turmoil was driven by uncertainty surrounding President Trump's tariff announcements, although goods from Canada and Mexico were exempted under the USMCA until April 2 [3] - Glen Smith, CIO at GDS Wealth Management, noted that the market does not favor uncertainty and anticipates continued market volatility until trade uncertainties are resolved [4] Economic Outlook - Treasury Secretary Scott Bessent acknowledged a potential loss of economic momentum but attributed it to a transition from previous policies [5] - He reassured investors that any tariff-related price increases would be a one-time adjustment rather than a trigger for lasting inflation [5] Top-Performing ETFs - Gold Miners – MicroSectors Gold Miners 3X Leveraged ETN (GDXU) increased by 14.8%, with gold bullion ETF (GLD) gaining over 1.2% [7] - China – Direxion Daily CSI China Internet Index Bull 2x Shares (CWEB) rose by 12.1%, driven by developments in Chinese tech stocks, particularly Alibaba's AI advancements [8] - Europe – Direxion Daily FTSE Europe Bull 3x Shares (EURL) was up 10.6%, with earnings momentum shifting towards Europe and parts of Asia [9] - Homebuilding – Direxion Daily Homebuilders & Supplies Bull 3X Shares (NAIL) gained 5.1%, likely due to a decline in treasury bond yields [10] - Mexico – Direxion Daily MSCI Mexico Bull 3X Shares (MEXX) increased by 4.8%, aided by the delay of auto tariffs on Mexico and Canada [12]

Company Announcement - M/I Homes, Inc. will host a webcast to announce its first quarter earnings on April 23, 2025, at 10:30 AM Eastern Time [1] - The earnings report is expected to be released before the market opens on the same day [1] Company Overview - M/I Homes, Inc. is recognized as one of the leading homebuilders in the United States, specializing in single-family homes [2] - The company operates in multiple regions including Columbus and Cincinnati in Ohio, Indianapolis in Indiana, Chicago in Illinois, Minneapolis/St. Paul in Minnesota, Detroit in Michigan, various locations in Florida, Texas, North Carolina, and Nashville in Tennessee [2]