secwatch.observer — SEC 8-K summary
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Issuer:     LENNAR CORP /NEW/ (LEN)
CIK:        0000920760
Form:       8-K
Filed at:   2024-09-19T23:59:59+00:00
Accession:  0001628280-24-040938
Event type: earnings
Sentiment:  positive
Materiality: 0.80
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Lennar Q3 EPS $4.26 (+10% YoY); deliveries +16%; Q4 guidance 22.5k-23k homes
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- Net earnings $1.2B, diluted EPS $4.26 vs $3.87; adjusted EPS $3.90 excluding one-time items.
- Homebuilding revenue $9.0B (+9% YoY) on 21,516 deliveries (+16%); avg price $422K (-6%).
- Gross margin 22.5% (down from 24.4%); SG&A improved to 6.7% of home sales revenue.
- Repurchased 3.4M shares for $519M; cash $4.0B, no revolver borrowings, debt to capital 7.6%.
- Q4 guidance: deliveries 22,500-23,000; gross margin flat sequentially; avg sales price ~$425K.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/920760/000162828024040938/0001628280-24-040938-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/920760/000162828024040938/len-20240919.htm
  HTML page:      https://secwatch.observer/filing/0001628280-24-040938

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