Lennar says continues to make ‘meaningful progress’ with trade partners

Says Q1 cancellation rate improved. Says has made significant investment in digital marketing. Says digital marketing team and dynamic pricing team getting better and better each quarter. Says working with trade partners to reduce costs. Says cycle-time reductions will come in the back half of the year. Says seeing a two-week reduction in cycle times for newly-started homes. Says improved cycle time will improve inventory return. Says being relentless on focus of protecting cash. Says well-positioned will well-structured deal contracts. Says marginally improved SG&A in Q1. Says maintaining tight inventory control.