Lennar reports Q4 deliveries increased 13% to 20,064 homes

In Q4: New orders decreased 15% to 13,200 homes; new orders dollar value decreased 24% to $5.5 billion. Backlog decreased 21% to 18,869 homes; backlog dollar value decreased 23% to $8.7 billion. Total revenues increased 21% to $10.2 billion. Homebuilding operating earnings increased 4% to $1.8 billion. Gross margin on home sales of 24.8%.