Lennar Earnings Reports

Lennar delivered 23,034 homes and reported $9.4B in revenue in Q4, with adjusted EPS of $2.03. Despite pressure from affordability concerns and a six-week government shutdown, the company increased new orders and maintained margins through cost discipline.

Lennar delivered 21,584 homes in Q3 2025 and generated $8.8B in revenue, with EPS of $2.29. Net income fell by nearly half compared to Q3 2024, but new orders rose and operational cycle time improved to an all-time low.

Lennar posted $8.4B in revenue and $477M in net income for Q2 2025, driven by consistent home deliveries and operational discipline, while managing through softer market conditions and declining average home prices.

Lennar posted total revenues of $7.63 billion in Q1 2025, with net earnings of $520 million and EPS of $1.96. Home deliveries increased by 6% year-over-year to 17,834 homes. The company maintained a gross margin on home sales of 18.7% and SG&A expenses at 8.5% of home sales revenue. New orders increased slightly by 1% to 18,355 homes, reflecting continued demand despite affordability challenges.

Lennar's Q4 2024 results showed a decrease in net earnings compared to the prior year, impacted by rising mortgage rates. While demand remained strong, new orders fell short of expectations. The company focused on managing inventory levels and maintaining a strong balance sheet.

Lennar reported a strong third quarter with increased net earnings, new orders, and deliveries. The company's performance was driven by solid demand and effective capital allocation, reinforcing its strong balance sheet and strategic land light focus.

Lennar reported a strong second quarter with increased net earnings, new orders, and deliveries. The company's focus on consistent production pace and strategic capital allocation contributed to a robust balance sheet and positive outlook.

Lennar Corporation reported a strong first quarter in 2024, with net earnings increasing by 21% to $719 million and net earnings per diluted share rising by 25% to $2.57. The company saw a 28% increase in new orders and a 23% increase in home deliveries, driving a 13% increase in total revenues to $7.3 billion. Strong operating performance and strategic capital allocation contributed to a strengthened balance sheet.

Lennar Corporation reported Q4 2023 net earnings of $1.4 billion, or $4.82 per diluted share. Total revenues were $11.0 billion, driven by a 19% increase in home deliveries and a 32% increase in new orders. The company's focus on production pace and sales pace resulted in strong cash flow and a strengthened balance sheet.

Lennar Corporation reported a net earnings of $1.1 billion, or $3.87 per diluted share, for the third quarter of 2023. Deliveries increased by 8% to 18,559 homes, and new orders rose by 37% to 19,666 homes. The company's homebuilding gross margin was 24.4%, and it ended the quarter with $3.9 billion in homebuilding cash and cash equivalents.

Lennar Corporation reported second quarter net earnings of $872 million, or $3.01 per diluted share. The company saw an increase in home deliveries and new orders, but a decrease in average sales price. The homebuilding gross margin started to bounce back to 22.5%.

Lennar reported a net earnings increase of 18% to $597 million, or $2.06 per diluted share. Excluding mark-to-market losses on technology investments, net earnings decreased 23% to $615 million, or $2.12 per diluted share. Home deliveries increased by 9% to 13,659 homes, while new orders decreased by 10%. The company's homebuilding debt to total capital improved to 14.2%.

Lennar reported strong Q4 2022 results with a 21% increase in total revenues to $10.2 billion and a 16% increase in net earnings per diluted share to $4.55. Home deliveries rose by 13% to 20,064 homes. However, new orders decreased by 15% to 13,200 homes, and the backlog also saw a decline.

Lennar Corporation reported a strong third quarter with net earnings of $1.5 billion, or $5.03 per diluted share. Excluding mark-to-market gains (losses) on technology investments and one-time items, third quarter net earnings attributable to Lennar in 2022 were $1.5 billion, or $5.18 per diluted share. Home deliveries increased by 13% to 17,248 homes, and total revenues increased by 29% to $8.9 billion.

Lennar Corporation reported a strong second quarter with net earnings of $1.3 billion, or $4.49 per diluted share, compared to $831.4 million, or $2.65 per diluted share for the second quarter last year. Total revenues increased 30% to $8.4 billion. The company's homebuilding gross margin was 29.5% and S,G&A was 6.1%, leading to a 23.4% net margin.

Lennar Corporation reported first quarter net earnings of $503.6 million, or $1.69 per diluted share. Excluding mark-to-market losses on technology investments, net earnings were $800.2 million, or $2.70 per diluted share. Revenues increased 16% to $6.2 billion, driven by a 2% increase in home deliveries and a 15% increase in the average sales price.

Lennar reported record fourth-quarter earnings of $1.2 billion, or $3.91 per diluted share, compared to $882.8 million, or $2.82 per diluted share, in the fourth quarter of last year. Excluding mark to market losses, earnings were $1.3 billion, or $4.36 per diluted share. Revenues increased 24% to $8.4 billion, and home deliveries increased 11% to 17,819 homes.

Lennar reported strong Q3 2021 results, with net earnings of $1.4 billion or $4.52 per diluted share. Revenues increased by 18% to $6.9 billion, driven by a 10% increase in home deliveries and an 8% increase in average sales price. The company experienced supply chain challenges, impacting delivery guidance, but new home demand remained strong.

Lennar reported a strong second quarter with net earnings of $831.4 million, or $2.65 per diluted share, a 61% increase compared to the previous year. Revenues increased by 22% to $6.4 billion, driven by strong performance in the homebuilding and financial services segments. The company expects continued strong performance in the third quarter, with deliveries between 15,800 and 16,100 homes and homebuilding gross margins between 27.0% and 27.5%.

Lennar reported a strong first quarter in 2021, with net earnings of $1.0 billion, or $3.20 per diluted share. The results were driven by robust market conditions and the performance of their homebuilding and financial services businesses, along with a significant contribution from a technology investment.

Lennar's Q4 2020 net earnings were $882.8 million, or $2.82 per diluted share, compared to $674.3 million, or $2.13 per diluted share in Q4 2019. Revenues were $6.8 billion, down 2% year-over-year. The company's homebuilding operations saw a gross margin on home sales of 25.0%, compared to 21.5% in the prior year.

Lennar Corporation reported Q3 2020 net earnings of $666.4 million, or $2.12 per diluted share, compared to $513.4 million, or $1.59 per diluted share in the prior year. Revenues were $5.9 billion, consistent with the prior year. The company's homebuilding and financial services businesses performed well, contributing to the strong results. Looking forward, Lennar expects continued strong demand and sales in Q4 2020.

Lennar Corporation reported a decrease in revenues of 5% to $5.3 billion. EPS increased to $1.65, up from $1.30 in the prior year. The company's homebuilding gross margin increased to 21.6% from 20.1% last year.

Lennar Corporation reported a strong first quarter with significant increases in deliveries, new orders, and revenue. Net earnings attributable to Lennar were $398.5 million, or $1.27 per diluted share, compared to $239.9 million, or $0.74 per diluted share in the prior year. The company has suspended guidance due to the economic uncertainty.

Lennar's Q4 2019 results showed strong growth in new orders and deliveries, leading to a net earnings of $674.3 million, or $2.13 per diluted share. The company's focus on operational efficiency and land management contributed to improved financial performance. The financial services segment also achieved record earnings.