secwatch.observer — SEC 8-K summary
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Issuer:     LENNAR CORP /NEW/ (LEN)
CIK:        0000920760
Form:       8-K
Filed at:   2026-03-12T23:59:59+00:00
Accession:  0001628280-26-017308
Event type: earnings
Sentiment:  negative
Materiality: 0.80
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/920760/000162828026017308/0001628280-26-017308-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/920760/000162828026017308/len-20260312.htm
  HTML page:      https://secwatch.observer/filing/0001628280-26-017308

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