Lennar Corp. Suspends Guidance - Quick Facts

(RTTNews) - Lennar Corporation (LEN, LEN.B) said, in the context of widespread shutdowns, the company has decided to suspend its guidance. The company said it is focused on the day to day operation of maintaining the parts of its business that are sustainable.

"Our first quarter results achieved and exceeded all expected metrics and we had been on track to expand on our guidance for the year. Our experienced management team will navigate, make necessary adjustments and guide Lennar through current market conditions," said Stuart Miller, Executive Chairman of Lennar.

At February 29, 2020, the company had $785.0 million of Homebuilding cash & cash equivalents. As at February 29, 2020, the company had $300.0 million of outstanding borrowings under its revolving credit facility, providing $2.1 billion of available capacity.