Great, our thank Jon Vice Executive will guidance you you, overview. Collins, to on Diane with detail Jon further our Bessette, our morning quarter And and Officer; Rick of strategic as Officer; and give our our some will as going McCall, XXXX. Chief President, land-and-operational Jaffe, course, Operating fourth and Diane Chief general President our well preliminary I'm and deliver Chief Officer; Controller. of Rick a with Financial and quarter on a overview, start first I'm here numbers Senior this Jeff thank Beckwitt, Alex. our David
this detailed release, forgo further time. in we our guidance press As noted will at
we question one possible. to get Q&A, as As one so your limit that ask questions always, many follow-up we as and to accommodate just like can you we'd when to
fourth quarter, and results. we ahead report to to we're saying the strong go that conditions very market begin continued the see slower me housing in pleased by let So given
line assets, on core and slow and the continued continue on sheet strengthening combined interest off-target While of deliveries to rate noncore XXXX through somewhat home and we were sales quarter fourth our generation were of housing the execute higher cash quarter, bottom to long-term Overall, selling strategy our balance market strong our focusing as and and in the homebuilding buyer rapid between and mismatch create our expectations. business. prices increases prices to a
incentives seasonally to the transact. than the reticent As entered slower slower the remained adjust. awaiting market expected we and purchasers were sidelines increased to were to quarter, market needed adjust on Sales rates to pricing a fourth entice
existing Over precipitated the market and in in the interest and rate, indicated prices pause quarter, new a decelerated speaking, continued and housing and slower clearly market the with to caused rapid Generally past increases housing have compression. the data the in market years together that seems indicate has price ahead. has a recovery market over some the past home increase
on both material agree. pressure land has pressure housing many that the and We cost. and volume have availability labor approved price maintained shortages, not With do concerned upward trade-driven Additionally, stalled. margin, on become still increases have recent completely limited market
believe and has strength seen the continue ease, still will natural market strong to lower interest the term This underlying to an sale production deficit decade. believe though rates by shortage we've adjust adjusts as demand housing short As and taken be will driven to for economic traffic in persisted by driven deficit the that and perhaps demand in Supply and recalibrate, has resume. defines to housing Therefore, is for It overall started primarily over country. the remained We pickup. prices in and have housing for continue market of market production pause. dwellings, the that we a a both rates. fundamental rent, the short
fourth wage low, up. drive during consumer saw and and slow sales consumer with Against quarter, economic very as moderate Lennar inventories well. employment, continued growth, strong catch we we the traffic confidence a that to believe While has growth to clearly the backdrop, temporary this adjustment perform is
million debt-to-total XX.X%, opportunistically point While improvement $XXX year-over-year, is enabled were notes, million sales These net an which up XXX CalAtlantic. pro last capital end repurchase a stock $XXX lower over million to year, of forma of senior were of up in XX.X% and we purchased with almost results basis achieved X% ratio earnings before and us by by deliveries repay we quarter. $XXX this
over to pay opportunistically down expect to to -- continue use debt, We down both to expect to repurchase to XXXX generate continuing flow to stock. strong cash while and pay cash
Additionally, and focus our on homebuilding efficiencies drive core we're noncore core homebuilding their our by to monetizing This opportunistically lines cash focused business. platform enhance in reverting repositioning to business team and enables our assets management strengthen order to on flow.
some examples. through walk briefly me Let
our closed for As we sold our fourth platform million the and management Investment noted asset in Rialto quarter. and press in release, $XXX
hold engaged management we Rialto. of we the oversee, will in valuable asset longer investment active continue assets, to no While nor be
that acquired debt our monetize insurance of our title we the all that early the North of quarter contracted as the sell closed a core title team, running in fourth in transaction, with of owned platform gain so again, the nearly overnight title States we a platform invested our is executed technology ownership agency transformational insurance. to modern as well. and the longer in with a providing of on cash, operation. the they no that not be strategy title easiest we the industry has create In and XXXX. in and American is over Title, and named business of a Title. home modern can small of to and on insurance investing its in States building our business, sale of focusing quarter, build industry. scale in estate technology profit our we oversight allowed home extensive coverage. the platforms leading insurance part We cash retained delivering process for national also teams the newcomer insurance our Next, which Hippo who with retail customers real We majority closed by platform to proactive onboarding first truly will also innovative only carrier. business agency to services asset. Lennar's purchase this business company for wholly turned that dramatically on a brokerage Hippo. States our and group an in title to insurance as Lennar change company Lennar's contracted engaged in noncore the Also well operating partner. first management the approach With possible is technology-based, technology creating but key very and of owners strategically their homebuilding efficient best-in-class a purchase coverage and States We've ongoing quarter, flow, market Title opportunistically partnering Title Hippo and named direct-to-consumer to transaction, this to for
modern we're innovators with ourselves at and forefront As exiting providers investing best-of-breed oversight technology and business customers. that creating of noncore the the experience service and a with of aligning with States our for Title,
that technologies serious technology execution. very before our we're emphasized and in investing company's that teams about have change enhance industry can We our and
recognize to to core reversion is that together, our focus significant This efficiency strategy, have to improve enabling combined under profits, reversion exciting company partners our to a very enable our reduce we business, business will continue by simply, homebuyers. cash overall core better our technology while approximately us on date. flow technology overhead to our investment now reduce best-of-breed associates reducing experience, a and our and X,XXX and us strategy this build to core our to homebuilding increase We're while experience for partner to new core continuing overhead to facilitating customers' operations. our rationalize in strategy management create and headcount strategies mousetrap. and Now with customer Putting and
just and business our to and very turn we've current our company. each with position Rick, today. that market Jon markets. of the We conditions, softness about the our amassed even Diane, in excited transformed over strategy our truly from size let are and me benefit say strategic I We we Before scale in
flow strong bottom and generating line profitability. cash are We
repurchase Our strengthening, use weakness market opportunistically the to of we balance shares. while sheet is
can We assets to noncore enhance are our who cash overheads. experience, reducing shedding help customers generate while companies, and partner with tech to
positioned is to as there position season manage in on uncertainty today well conditions let further bottom continued detailed we me with line of clarity. and expect to the deliver our until and strategy over will strong the the forego While the detail land and guidance market pricing flow. homebuilding themselves. homes over full our With extremely existing quarter We're and operational cash to brings Based present that, they model, additional efficiency, market selling give fully the dynamic increased to this on and team profitability strong rest our we turn year year-end. XX,XXX year