Lennar Corporation (NYSE:LEN) Q3 2024 Earnings Conference Call September 20, 2024 11:00 AM ET

Company Participants

David Collins - Vice President & Controller
Stuart Miller - Executive Chairman & Co-Chief Executive Officer
Jon Jaffe - Co-Chief Executive Officer & President
Diane Bessette - Chief Financial Officer

Conference Call Participants

Alan Ratner - Zelman & Associates
Stephen Kim - Evercore ISI
Susan Maklari - Goldman Sachs
Michael Rehaut - JPMorgan
Trevor Allinson - Wolfe Research
John Lovallo - UBS

Operator

Thank you for standing by, and welcome to Lennar's Third Quarter Earnings Conference Call. At this time, all participants are in a listen-only mode. After the presentation, we will conduct a question-and-answer session. Today's conference is being recorded. If you have any objections, you may disconnect at this time.

I will now turn the call over to David Collins for the reading of the forward-looking statement.

David Collins

Thank you, and good morning, everyone.

Today's conference call may include forward-looking statements, including statements regarding Lennar's business, financial condition, results of operations, cash flows, strategies and prospects. Forward-looking statements represent only Lennar's estimates on the date of this conference call and are not intended to give any assurance as to actual future results. Because forward-looking statements relate to matters that have not yet occurred, these statements are inherently subject to risks and uncertainties. Many factors could affect future results and may cause Lennar's actual activities or results to differ materially from the activities and results anticipated in forward-looking statements. These factors include those described in our earnings release and our SEC filings, including those under the caption Risk Factors contained in Lennar's annual report on Form 10-K most recently filed with the SEC. Please note that Lennar assumes no obligation to update any forward-looking statements.

Operator

I would now like to introduce your host, Mr. Stuart Miller, Executive Chairman and Co-CEO. Sir, you may begin.

Stuart Miller

Very good, and good morning, everybody, and thank you for joining today. I'm in Miami today together with Jon Jaffe, our Co CEO and President; Diane Bessette, our Chief Financial Officer; David Collins, who you just heard from, our Controller and Vice President; Bruce Gross -- and Bruce Gross, our CEO of Lennar Financial Services, and a few others are here as well.

As usual, I'm going to give a macro and strategic overview of the company. After my introductory remarks, Jon is going to give an operational overview, update in construction costs, cycle time and some of our land strategy and position. As usual, Diane is going to give a detailed financial highlight, along with some limited guidance for our fourth quarter and full year year-end 2024. And then, of course, we'll have question and answer. As usual, I'd like to ask that you please limit yourself to one question, one follow-up so that we can accommodate as many as possible.