Lennar (LEN) stock is lower Tuesday after the homebuilder beat analysts' expectations for its fiscal second-quarter results but issued a soft deliveries outlook for its fiscal third quarter.
In the three months ended May 31, Lennar's revenue increased 9% year-over-year to $8.8 billion. The boost in sales was driven by a 15% jump in deliveries to 19,690 homes, while new orders were up 19% to 21,293 homes.
