secwatch.observer — SEC 8-K summary
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Issuer:     LENNAR CORP /NEW/ (LEN)
CIK:        0000920760
Form:       8-K
Filed at:   2025-06-17T23:59:59+00:00
Accession:  0001628280-25-031665
Event type: earnings
Sentiment:  negative
Materiality: 0.80
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Lennar Q2 EPS $1.81, down 48% YoY; revenue $8.4B; guides Q3 deliveries 22k-23k
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- Net earnings $477M ($1.81 diluted); adjusted EPS $1.90 excluding tech investment losses.
- Revenue $8.4B, down 7% YoY; home deliveries up 2% to 20,131; avg sales price fell 9% to $389K.
- Homebuilding gross margin 17.8% (18.0% ex purchase accounting); SG&A rose to 8.8% of home sales.
- Issued $700M 5.20% notes due 2030, redeemed $500M 4.75% notes; repurchased 4.7M shares for $517M.
- Q3 guidance: deliveries 22k-23k; avg sales price $380k-$385k; gross margin approx 18%; Fin Svcs op earnings $175-180M.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/920760/000162828025031665/0001628280-25-031665-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/920760/000162828025031665/len-20250616.htm
  HTML page:      https://secwatch.observer/filing/0001628280-25-031665

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