Lennar Corporation (NYSE:LEN) is a leading homebuilder in the United States, known for its diverse range of residential properties. The company operates in various segments, including homebuilding, financial services, and multifamily. Lennar competes with other major homebuilders like D.R. Horton and PulteGroup. Despite its strong market presence, Lennar faces challenges due to fluctuating market conditions.
On December 16, 2025, Lennar reported earnings per share (EPS) of $1.93, missing the estimated $2.21. This shortfall is consistent with the fourth-quarter earnings report, where Lennar's EPS of $2.03 fell short of the Zacks Consensus Estimate of $2.23. The company's EPS was significantly higher a year ago at $4.03, indicating a notable decline in year-over-year earnings performance.
Despite the earnings miss, Lennar exceeded revenue expectations, reporting $9.37 billion compared to the estimated $9 billion. The company also saw an 18% increase in new orders, totaling 20,018 homes, and a 4% rise in deliveries to 23,034 homes.
Lennar's financial position remains strong, with $3.4 billion in homebuilding cash and cash equivalents and no outstanding borrowings under its $3.1 billion revolving credit facility. The company has a homebuilding debt to total capital ratio of 15.7%. However, the multifamily segment reported an operating loss of $44 million, highlighting challenges in this area.
For the fiscal year 2025, Lennar reported net earnings of $2.1 billion, with earnings per diluted share at $7.98. The company achieved a 9% increase in new orders, totaling 83,978 homes, and a 3% increase in deliveries, reaching 82,583 homes. Total revenues for the year amounted to $34.2 billion, with a gross margin on home sales of 17.7% and a net margin of 9.3%.
