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AI brief of an SEC Form 8-K · Lennar (LEN)

Lennar Q4 profit falls to $4.06 per share as home deliveries drop 7%

Negative Impact 3 of 5 earnings Written later

Lennar reported fourth-quarter 2024 net earnings of $1.1 billion, or $4.06 per diluted share, down from $1.4 billion, or $4.82 per share, a year earlier, on total revenues of $9.9 billion versus $11.0 billion. The company said higher mortgage rates limited affordability and that new orders fell short of its guidance, while it gave first-quarter 2025 delivery and gross margin guidance.

Key points

  • Q4 2024 net earnings per diluted share of $4.06 versus $4.82 in Q4 2023; full-year 2024 EPS of $14.31 versus $13.73
  • Q4 deliveries of 22,206 homes, down 7%; new orders of 16,895 homes, below the low end of guidance of 19,000
  • Q1 2025 guidance: 17,000 to 17,500 deliveries and a 19.0% to 19.25% gross margin on home sales; no full-year gross margin guidance
  • Repurchased 3 million shares for $521 million in Q4 and had $7.6 billion of available liquidity at November 30, 2024

The filing

CompanyLennar (LEN)
Form8-K, current report
Filed with the SECDec 18, 2024, 4:33 PM ET
Accession number0001628280-24-051885

Items reported: 2.02 Results of Operations

Read the filing on SEC.gov ↗

Written by AI (Anthropic Claude, claude-haiku-5-5) on Nov 8, 2026, 12:42 AM ET, from the text of the filing and its press-release exhibits only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on December 18, 2024.

Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.