secwatch.observer — SEC 8-K summary
======================================

Issuer:     LENNAR CORP /NEW/ (LEN)
CIK:        0000920760
Form:       8-K
Filed at:   2023-12-14T23:59:59+00:00
Accession:  0001628280-23-041612
Event type: earnings
Sentiment:  positive
Materiality: 0.80
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Lennar Q4 EPS $4.82 ($5.17 adj.); orders +32%; guides FY24 deliveries 80K
-------------------------------------------------------------------------

- Q4 net earnings $1.4B ($4.82/diluted); adj. $1.5B ($5.17/diluted) vs $1.3B ($4.55) a year ago.
- New orders 17,366 homes (+32%); deliveries 23,795 (+19%); avg sales price $441K (-9%).
- Homebuilding gross margin 24.2%; net margin 17.6%; S,G&A at 6.6% of home sales revenue.
- Financial Services op. earnings $168M vs $125M; Multifamily op. loss $12M; Lennar Other loss $125M from tech write-downs.
- Q1 2024 guidance: deliveries 16,500-17,000 homes, gross margin 21.0%-21.25%; FY2024 deliveries ~80,000 homes; share repurchase target $2B.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/920760/000162828023041612/0001628280-23-041612-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/920760/000162828023041612/len-20231214.htm
  HTML page:      https://secwatch.observer/filing/0001628280-23-041612

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