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Stuart Miller

Executive Chairman, Chief Executive Officer & President, Lennar

Search every verified Stuart Miller interview, podcast appearance, and on-the-record quote — each transcript cross-checked by AI and human review to confirm speaker identity. During Lennar's third-quarter 2026 earnings call on September 17, 2026, Stuart Miller discussed the company's performance, reporting new home deliveries of 20,879, slightly below its guidance range of 21,000 to 22,000, while noting a sequential improvement in gross margin to 15%. Miller attributed ongoing challenges to higher interest rates and inflation, which he said were driving up costs and reducing consumer confidence. He also identified increased competition from resale home sellers, particularly in Florida and Texas, Lennar's two largest markets, stating that these sellers are becoming more aggressive on price and competing for the company's customers. Miller addressed the company's land strategy, saying Lennar is working through a land base negotiated at a different time and that land price headwinds remain a finite but ongoing challenge. He stated that the company is not waiting for the market to rebuild its margin and that every quarter of volume shortens the remaining land-related pressure. Regarding cash and capital allocation, Miller noted that the company's cash position fluctuates quarterly and that it maintains a healthy balance to smooth out peaks, while also acknowledging the importance of shareholder returns and buybacks given the company's valuation and long-term outlook.

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