Lennar reported net earnings attributable to Lennar for the quarter ended February 28, 2025 of $520 million, or $1.96 per diluted share, compared to net earnings attributable to Lennar of $719 million, or $2.57 per diluted share, in the prior year quarter.

1. 01

   Lennar reported net earnings attributable to Lennar for the quarter ended February 28, 2025 of $520 million, or $1.96 per diluted share, compared to net earnings attributable to Lennar of $719 million, or $2.57 per diluted share, in the prior year quarter.

2. 02

   The company said revenues from home sales for Q1 were $7.2 billion, compared to $6.9 billion in the prior year quarter, and gross margin on home sales was 18.7%, compared to 21.8% in the prior year quarter. It cited an increase in land costs year over year and a decrease in revenue per square foot as factors in the margin decline.

3. 03

   Lennar completed the spin-off of Millrose Properties, Inc. on February 7, 2025, distributing approximately 80% of Millrose's stock to shareholders, and contributed land assets of $5.6 billion and cash of $1.0 billion to Millrose. The company acquired Rausch Coleman Homes' homebuilding operations on February 10.

4. 04

   For Q2 2025, Lennar provided guidance of 19,500 to 20,500 homes for deliveries, average sales price of $390,000 to $400,000, and gross margin on home sales of approximately 18%.

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AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

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