Lennar Corp. (LEN) Misses Q3 EPS by 10c, Misses on Revenue; Offers Q4 Guidance
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Lennar Reports Third Quarter 2025 Results
September 18, 2025 5:48 PM EDTThird Quarter 2025 Highlights - comparisons to the prior year quarter
Net earnings per diluted share of $2.29 ($2.00 excluding mark-to-market gains on technology investments)Net earnings of $591 millionNew orders increased 12% to 23,004 homesBacklog of 16,953 homes with a dollar value of $6.6 billionDeliveries of 21,584 homes - consistent with prior yearTotal revenues of $8.8 billionHomebuilding operating earnings of $760 millionGross margin on home sales of 17.5%SG&A expenses as a % of revenues from home sales of 8.2%Net margin on home sales... More