secwatch.observer — SEC 8-K summary
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Issuer:     LENNAR CORP /NEW/ (LEN)
CIK:        0000920760
Form:       8-K
Filed at:   2023-09-14T23:59:59+00:00
Accession:  0001628280-23-032289
Event type: earnings
Sentiment:  neutral
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Lennar Q3 EPS $3.87, deliveries up 8% to 18,559; new orders up 37%
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- Net earnings $1.1B ($3.87/diluted) vs $1.5B ($5.03) YoY; adjusted EPS $3.91.
- Homebuilding gross margin 24.4% vs 29.2% YoY; S,G&A 7.0% of home sales.
- Financial Services op earnings $148M vs $63M YoY (incl. $36M one-time charge in 2022).
- Q4 guidance: deliveries 21,500-22,500, gross margin 24.4%-24.6%, S,G&A 6.7%-6.9%.
- Repaid $475M debt, repurchased 3M shares for $366M; cash $3.9B, no revolver draw.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/920760/000162828023032289/0001628280-23-032289-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/920760/000162828023032289/len-20230914.htm
  HTML page:      https://secwatch.observer/filing/0001628280-23-032289

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