Executive ManagementC-Suite departures heighten execution risk for Lennar Corporation, as three top executives have left during the company's transformation phase.
Financial PerformanceMargins, earnings, and return on equity have declined materially during Lennar's transition strategy, partly due to a weak housing market, without showing signs of improvement.
Market ConditionsLEN pointed to a continued softening of market conditions during 3Q, and as a result, decided to 'ease back' its delivery expectations to help establish a 'floor on margin'.