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

Lennar Q2 net earnings fall to $477 million, or $1.81 per share, from $3.45 a year earlier

Negative Impact 4 of 5 earnings Written later

Lennar reported second-quarter results for the period ended May 31, 2025, with net earnings of $477 million, or $1.81 per diluted share, down from $954 million, or $3.45 per share, a year earlier. Total revenues were $8.4 billion, down from $8.8 billion, as the average sales price of homes delivered fell to $389,000 from $426,000, while new orders and deliveries both rose. The company also gave third-quarter guidance for new orders and deliveries of 22,000 to 23,000 homes each.

Key points

  • Net earnings attributable to Lennar were $477 million, or $1.81 per diluted share, versus $954 million, or $3.45 per share, in the second quarter of 2024.
  • New orders rose 6% to 22,601 homes and deliveries rose 2% to 20,131 homes, while the average sales price fell to $389,000 from $426,000.
  • Third-quarter guidance: new orders and deliveries of 22,000 to 23,000 homes each, average sales price of $380,000 to $385,000, and gross margin of approximately 18%.
  • The company repurchased 4.7 million shares for $517 million and ended the quarter with $5.4 billion in total liquidity.

The filing

CompanyLennar (LEN)
Form8-K, current report
Filed with the SECJun 16, 2025, 5:53 PM ET
Accession number0001628280-25-031665

Items reported: 2.02 Results of Operations

Read the filing on SEC.gov ↗

Written by AI on Nov 8, 2026, 12:42 AM ET, from this filing 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 June 16, 2025.

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