---
schema_version: "secwatch.filing_event.v1"
accession: "0001628280-26-017308"
form_type: "8-K"
ticker: "LEN"
cik: "0000920760"
company_name: "LENNAR CORP /NEW/"
filed_at: "2026-03-12T23:59:59+00:00"
generated_at: "2026-05-15T14:38:10.249406+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Lennar Q1 diluted EPS $0.93, down from $1.96; home sales revenue falls 13% to $6.3B

## Summary
- Net earnings $229M ($0.93 diluted EPS) vs $520M ($1.96) in Q1 2025; adjusted EPS $0.88 excluding tech gains.
- Revenues from home sales $6.3B, down 13% YoY; deliveries 16,863 (-5%); avg sales price $374,000 (-$34k).
- Gross margin on home sales 15.2% vs 18.7% a year ago; SG&A as % of home sales 9.8% vs 8.5%.
- New orders increased 1% to 18,515 homes; backlog 15,588 homes valued at $6.0B.
- Q2 guidance: deliveries 20,000-21,000; gross margin 15.5%-16.0%; Financial Services operating earnings $100M-$110M.

## SEC filing metadata
- accession: 0001628280-26-017308
- form_type: 8-K
- ticker: LEN
- cik: 0000920760
- company_name: LENNAR CORP /NEW/
- filed_at: 2026-03-12T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/920760/000162828026017308/0001628280-26-017308-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/920760/000162828026017308/len-20260312.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001628280-26-017308
- JSON: https://secwatch.observer/filing/0001628280-26-017308.json
- Plain text: https://secwatch.observer/filing/0001628280-26-017308.txt

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