Lennar Corp. (LEN) Misses Q4 EPS by 18c, Tops on Revenue

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Go back to Lennar Corp. (LEN) Misses Q4 EPS by 18c, Tops on Revenue

Lennar Reports Fourth Quarter and Fiscal 2025 Results

December 16, 2025 4:30 PM EST

2025 Fourth Quarter Highlights

Net earnings per diluted share of $1.93; $2.03 excluding adjustments of:$123 million mark-to-market gains on technology investments, and$156 million one-time loss on previously announced Millrose Properties, Inc. ("Millrose") exchange offerNet earnings of $490 millionNew orders increased 18% year over year to 20,018 homesBacklog of 13,936 homes with a dollar value of $5.2 billionDeliveries increased 4% year over year to 23,034 homesTotal revenues of $9.4 billionHomebuilding operating earnings of $718 millionGross margin on home sales of 17.0%; net margin of... More