---
schema_version: "secwatch.filing_event.v1"
accession: "0001628280-22-031933"
form_type: "8-K"
ticker: "LEN"
cik: "0000920760"
company_name: "LENNAR CORP /NEW/"
filed_at: "2022-12-14T23:59:59+00:00"
generated_at: "2026-06-21T05:07:52.528659+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Lennar Q4 EPS $4.55 (+16% YoY); FY 2023 deliveries seen 60K-65K, gross margin ~21%

## Summary
- Q4 diluted EPS $4.55 vs $3.91 YoY; adjusted EPS $5.02 vs $4.36, both up double-digit.
- Deliveries Q4 20,064 (+13%); new orders 13,200 (-15%); backlog 18,869 (-21%).
- Homebuilding gross margin 24.8% (pre-impairment 25.3%), down 270 bps YoY on higher costs and incentives.
- Homebuilding debt-to-capital improved to 14.4% (lowest ever); liquidity $7.2B with no revolver borrowings.
- Q1 FY2023 guidance: deliveries 12,000-13,500, gross margin ~21%; FY2023 deliveries 60,000-65,000.

## SEC filing metadata
- accession: 0001628280-22-031933
- form_type: 8-K
- ticker: LEN
- cik: 0000920760
- company_name: LENNAR CORP /NEW/
- filed_at: 2022-12-14T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/920760/000162828022031933/0001628280-22-031933-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/920760/000162828022031933/len-20221214.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001628280-22-031933
- JSON: https://secwatch.observer/filing/0001628280-22-031933.json
- Plain text: https://secwatch.observer/filing/0001628280-22-031933.txt

## Key facts
- Earnings Releases
  LENNAR CORP /NEW/ reported the fourth quarter ended November 30, 2022 results: revenue $10.2 billion, net income $1.3 billion, EPS $4.55 per diluted share.
  - Period: the fourth quarter ended November 30, 2022
  - Revenue: $10.2 billion
  - Net income: $1.3 billion
  - EPS: $4.55 per diluted share
  - Result: reported results
  source text: orders dollar value decreased 24% to $5.5 billion • Backlog decreased 21% to 18,869 homes; backlog dollar value decreased 23% to $8.7 billion • Total revenues increased 21% to $10.2 billion • Homebuilding operating earnings increased 4% to $1.8 billion ◦ Gross margin on home sales of 24.8% ▪ Pre-impairment gross margin on home sales of 25.3% - down 270 basis points
  evidence_url: https://www.sec.gov/Archives/edgar/data/920760/000162828022031933/0001628280-22-031933-index.htm
- Earnings Releases
  LENNAR CORP /NEW/ reported the fiscal year ended November 30, 2022 results: revenue $33.7 billion, net income $4.6 billion, EPS $15.72 per diluted share.
  - Period: the fiscal year ended November 30, 2022
  - Revenue: $33.7 billion
  - Net income: $4.6 billion
  - EPS: $15.72 per diluted share
  - Result: reported results
  source text: ◦ Increased 29% to $5.2 billion, excluding adjustments • Deliveries increased 11% to 66,399 homes • New orders decreased 5% to 61,105 homes • Total revenues increased 24% to $33.7 billion • Net margin on home sales improved 170 bps to 21.4 % • Retired early $575 million of homebuilding senior notes due November 2022 • Repurchased 11 million shares of Lennar common
  evidence_url: https://www.sec.gov/Archives/edgar/data/920760/000162828022031933/0001628280-22-031933-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.