secwatch.observer — SEC 8-K summary
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Issuer:     LENNAR CORP /NEW/ (LEN)
CIK:        0000920760
Form:       8-K
Filed at:   2022-09-21T23:59:59+00:00
Accession:  0001628280-22-025292
Event type: earnings
Sentiment:  positive
Materiality: 0.80
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Lennar Q3 EPS $5.03 ($5.18 adj) beats; deliveries +13%; guides Q4 deliveries 20k-21k, gross margin 26-27%
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- Net earnings $1.5B, up 4% YoY; diluted EPS $5.03 vs $4.52; adjusted EPS $5.18, up 58%.
- Homebuilding revenue $8.4B (+30%); deliveries 17,248 (+13%); avg price $491k (+15%).
- Homebuilding gross margin 29.2% (up 190bps); S,G&A ratio 5.8% (record low).
- New orders 14,366 (-12%); backlog dollar value $12.9B (+8%); controlled homesites 63% vs 53%.
- Retired $575M senior notes due Nov 2022; no revolver borrowings; debt-to-capital 15.0% (record low).

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/920760/000162828022025292/0001628280-22-025292-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/920760/000162828022025292/len-20220921.htm
  HTML page:      https://secwatch.observer/filing/0001628280-22-025292

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer