Lennar deferring guidance for FY19
Stuart Miller, executive chairman of Lennar, said, "With a solid balance sheet, strong cash flow generation and continued execution of our core operating strategies, we believe that we are well positioned to continue our solid performance into 2019. However, due to continued softness and uncertainty at this seasonally slower time of year, we are deferring guidance for fiscal year 2019 until the markets further define themselves." Jon Jaffe, President and COO of Lennar, said, "During the fourth quarter, we completed all aspects of the CalAtlantic integration, which now allows us to operate under one platform leading to even greater efficiencies in all parts of our business. In addition, we exceeded our previously announced 2018 synergies and are on target to meet the 2019 synergies."