Lennar Corporation
- Lennar Corp. fell 3.2% to $128.62 after the home builder reported results for the fiscal third quarter of 2025 ending on August 31.
Consolidated revenue decreased to $8.8 billion from $9.4 billion, net income declined to $591 million from $1.16 billion, and diluted earnings per share fell to $2.29 from $4.26 a year ago.
During the third quarter, Lennar returned a total of $507 million to shareholders through share repurchases of 4.1 million shares of common stock at an average share price of $122.97.
As previously announced on February 10, Lennar Corporation completed its acquisition of Rausch Coleman Homes.
For the fourth quarter, Lennar expects to secure between 20,000 and 21,000 new orders and deliver between 22,000 and 23,000 new homes.
The average sales price is projected to range from $380,000 to $390,000.
The gross margin percentage on home sales is expected to be approximately 17.5%, consistent with the third quarter, and SG&A as a percentage of home sales is anticipated to be between 7.8% and 8.0%.
Additionally, operating earnings from financial services are forecasted to be between $130 million and $135 million.
“Our third quarter results reflect both the continued pressures of today's housing market and the consistency of Lennar's operating strategy.
This quarter, we delivered 21,584 homes and recorded 23,004 new orders.
Achieving these results required additional incentives, resulting in a reduced average sales price of $383,000, and our gross margin drifted down to 17.5%, while our SG&A expenses came in at 8.2%, reflecting the soft market conditions." said Stuart Miller, Executive Chairman and Co-Chief Executive Officer of Lennar.
Sep 19, 2025 - Lennar Corp. gained 2.7% to $112.45 after the home builder reported results for the fiscal second quarter of 2025 ending on May 31, citing continued weakness in the market.
Revenue declined to $8.38 billion from $8.76 billion, net earnings edged down to $477.45 million from $954.31 million, and diluted earnings per share fell to $1.81 from $3.45 a year ago.
New orders increased 6% to 22,601 homes, bringing the backlog to 15,538 homes with a value of $6.5 billion.
New home deliveries increased 2% to 20,131 homes in the quarter from 19,690 homes a year earlier, and the average sales price of homes was $389,000, compared to $426,000 in the same quarter last year.
In the second quarter, the company repurchased 4.7 million shares of its stock for $517 million at an average share price of $109.79.
The home builder guided third-quarter new orders and deliveries to be between 22,000 and 23,000 and the average sales price to be between $380,000 and $385,000.
In comparison, new home deliveries in the third quarter of 2024 were 21,516, and the average sales price of homes delivered was $422,000.
The company also estimated financial services operating earnings to be between $175 million and $180 million in the third quarter, compared to $144 million a year earlier.
Jun 17, 2025 - Lennar Corp. traded flat at $115.22 after the home builder reported results for the first quarter of fiscal 2025 ending in February.
Revenue increased to $7.63 billion from $7.31 billion, net income dropped to $519.5 million from $719.3 million, and diluted earnings per share fell to $1.96 from $2.57 a year ago.
The company completed the quarter with a backlog of 13,145 homes with a dollar value of $5.8 billion, and home deliveries increased 6% to 17,834 homes.
New orders increased 1% to 18,355 homes, as new orders dollar value decreased 4% to $7.4 billion.
During the quarter, the company repurchased 5.2 million shares for $703 million at an average share price of $134.40.
In February, Lennar completed the taxable spin-off of Millrose Properties Inc. from Lennar through a distribution of approximately 80% of Millrose's stock to Lennar's stockholders.
The company guided for the second quarter of 2025 new orders to be between 22,500 and 23,500 homes, deliveries between 19,500 and 20,500 homes, and the average sales price between $390,000 and $400,000.
The gross margin on home sales is estimated at approximately 18%.
The company expects operating earnings in the financial services segment to be between $135 million and $145 million in the second quarter of 2025, compared to $146 million a year ago.
During the first quarter, operating earnings for the financial services segment were $143 million, compared to $131 million a year ago, helped by increased deliveries.
Mar 24, 2025 - Single-family house sales eased 0.3% from the previous month and rose 5.9% from a year ago in February to a seasonally adjusted rate of 662,000.
The median sale price of a new house sold was $400,500, and the average sale price was $485,000, according to the latest government statistics.
The U.S. Census Bureau and the U.S. Department of Housing and Urban Development jointly announced the new residential statistics Monday.
The seasonally adjusted estimate of new homes for sale at the end of February was 463,000, a supply of 8.4 months at the current sales rate.
Home price affordability and elevated mortgage rates have kept first-time home buyers away from the market, as mortgage rates have continued to advance over the last year.
Mar 25, 2024 - Lennar Corp. increased 1.4% to $150.17 after the home builder increased its annual dividend to $2.0 from $1.50 a share and the company's board approved the stock repurchase program of $5 billion.
Jan 10, 2024
| Year | Feb | May | Aug | Nov | Annual | |
|---|---|---|---|---|---|---|
| 2023 | 2.06 | 3.01 | 3.87 | 4.82 | - | |
| 2022 | 1.69 | 4.49 | 5.03 | 4.51 | 15.72 | |
| 2021 | 3.2 | 2.65 | 4.52 | 3.9 | 14.27 | |
| 2020 | 1.27 | 1.65 | 2.12 | 2.81 | 7.85 | |
| 2019 | 0.74 | 1.3 | 1.59 | 2.11 | 5.74 | |
| 2018 | 0.53 | 0.94 | 1.37 | 2.6 | 5.44 | |
| 2017 | 0.59 | 0.91 | 1.06 | 1.29 | 3.85 | |
| 2016 | 0.63 | 1.58 | 1.01 | 1.34 | 2.98 | |
| 2015 | 0.50 | 0.79 | 0.96 | 1.21 | 3.46 | |
| 2014 | 0.35 | 0.61 | 0.78 | 1.06 | 2.8 | |
| 2013 | 0.26 | 0.61 | 0.54 | 0.74 | 2.15 | |
| 2012 | 0.08 | 2.06 | 0.40 | 0.57 | 3.11 | |
| 2011 | 0.14 | 0.07 | 0.11 | 0.16 | 0.48 | |
| 2010 | -0.04 | 0.21 | 0.16 | 0.18 | 0.51 | |
| 2009 | -0.98 | -0.76 | -0.97 | 0.26 | -2.45 | |
| 2008 | -0.56 | -0.76 | -0.56 | -5.13 | -7.01 | |
| 2007 | 0.43 | -1.55 | -3.25 | -7.94 | -12.31 | |
| 2006 | 1.58 | 2.00 | 1.30 | -1.19 | 3.69 | |
| 2005 | 1.17 | 1.48 | 2.06 | 3.52 | 8.23 |