Lennar Corp (NYSE:LEN) reported financial results for the fourth quarter after the market close on Tuesday. Here’s a rundown of the homebuilder’s report.
- Lennar stock is showing notable weakness. Why is LEN stock dropping?
Q4 Highlights: Lennar reported fourth-quarter revenue of $9.37 billion, beating analyst estimates of $9.02 billion, according to Benzinga Pro. The company reported adjusted earnings of $2.03 per share for the quarter, missing estimates of $2.21 per share.
New orders increased 18% year-over-year to 20,018 homes, and deliveries rose 4% year-over-year to 23,034 homes. Despite the uptick, Lennar said revenue from home sales fell 7% in the fourth quarter to $8.9 billion.
The company ended the period with a backlog of 13,936 homes, valued at approximately $5.2 billion.
“Even as interest rates moved slightly lower in our fourth quarter, the overall market remained challenged. Accordingly, our fourth quarter and full year 2025 results reflect a disciplined commitment to increasing housing supply in a market constrained by affordability challenges, as well as weak consumer confidence,” said Stuart Miller, executive chairman and co-CEO of Lennar.
What’s Next: Lennar sees new orders in the first quarter of fiscal 2026 between 18,000 and 19,000. The company expects to deliver 17,000 to 18,000 homes in the first quarter at an average sales price of $365,000 to $375,000, versus an average sales price of $386,000 in the fourth quarter.
Lennar executives will further discuss the quarter and the company’s forward outlook on an earnings call at 11 a.m. ET Wednesday morning.
LEN Price Action: Lennar shares were down 4.14% in after-hours, trading at $112.70 at the time of publication on Tuesday, per Benzinga Pro.
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