
Why Is Lennar (LEN) Up 8.2% Since Last Earnings Report?
Lennar (LEN) reported earnings 30 days ago. What's next for the stock?
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Lennar (LEN) reported earnings 30 days ago. What's next for the stock?

Many investors were down on homebuilder stocks generally that month. This wasn't helped by Lennar's fourth-quarter earnings miss.

CNBC's Jim Cramer delivers his daily Mad Dash.

Berkshire Hathaway has been building a position in Lennar. I live in a home built by Lennar.

Millrose Properties is upgraded to 'buy' after a 10% pullback and a 2.7% dividend increase, offering a 10.3% yield. MRP's revenues remain resilient despite Lennar's margin pressures, with contractual protections and diversified homesite pools mitigating counterparty risk. New builder agreements diversify MRP's portfolio, command higher yields, and support further dividend growth, with FFO ramping and additional deal capacity.

Lennar (LEN) is technically in oversold territory now, so the heavy selling pressure might have exhausted. This along with strong agreement among Wall Street analysts in raising earnings estimates could lead to a trend reversal for the stock.

Lennar (LEN) reported earnings and missed analyst expectations. The company pointed to affordability concerns, weak consumer confidence, and a U.S. government shutdown as reasons for its mixed quarter.

Lennar Corporation ( LEN ) Q4 2025 Earnings Call December 17, 2025 11:00 AM EST Company Participants David Collins - VP & Controller Stuart Miller - Co-CEO & Executive Chairman Jonathan Jaffe - Co-CEO, President & Director Diane Bessette - CFO & VP Conference Call Participants Alan Ratner - Zelman & Associates LLC John Lovallo - UBS Investment Bank, Research Division Stephen Kim - Evercore ISI Institutional Equities, Research Division Michael Rehaut - JPMorgan Chase & Co, Research Division Susan Maklari - Goldman Sachs Group, Inc., Research Division Presentation Operator Welcome to Lennar's Fourth Quarter Earnings Conference Call. [Operator Instructions] Today's conference is being recorded.

LEN's Q4 FY25 EPS misses estimates while revenues beat, but both fall y/y as weak housing demand hits margins, sending shares down 3.7% after hours.

Homebuilding stock Lennar Corp (NYSE:LEN) is sharply lower today, down 4.3% at $112.51 at last glance, after mixed fiscal fourth-quarter results.

U.S. stock futures were higher this morning, with the Dow futures gaining around 0.2% on Wednesday.

Lennar Corporation remains strategically positioned despite housing market volatility, supported by prudent pricing, geographic diversification, and a robust balance sheet. LEN's Q4 2025 revenue declined 5.8% YoY, but resilient demand in select segments and effective price adjustments offset broader weakness. Valuation is reasonable, with a target price of $134.23; technicals are weak but present potential buying opportunities amid a dip.

The headline numbers for Lennar (LEN) give insight into how the company performed in the quarter ended November 2025, but it may be worthwhile to compare some of its key metrics to Wall Street estimates and the year-ago actuals.

Lennar (LEN) came out with quarterly earnings of $2.03 per share, missing the Zacks Consensus Estimate of $2.23 per share. This compares to earnings of $4.03 per share a year ago.

Co-Chief Executive Stuart Miller said the overall market remained challenged in the quarter even as interest rates moved slightly lower.

2025 Fourth Quarter Highlights Net earnings per diluted share of $1.93; $2.03 excluding adjustments of: $123 million mark-to-market gains on technology investments, and $156 million one-time loss on previously announced Millrose Properties, Inc. ("Millrose") exchange offer Net earnings of $490 million New orders increased 18% year over year to 20,018 homes Backlog of 13,936 homes with a dollar value of $5.2 billion Deliveries increased 4% year over year to 23,034 homes Total revenues of $9.4 billion Homebuilding operating earnings of $718 million Gross margin on home sales of 17.0%; net margin of 9.1% Financial Services operating earnings of $134 million Multifamily operating loss of $44 million Lennar Other operating earnings of $61 million Homebuilding cash and cash equivalents of $3.4 billion No outstanding borrowings under the Company's $3.1 billion revolving credit facility $1.7 billion outstanding under the Company's term loan facility Homebuilding debt to total capital of 15.7% Completed non-cash repurchase of 8.0 million Lennar shares through Millrose exchange offer 2025 Fiscal Year Highlights Net earnings per diluted share of $7.98; $8.06 excluding adjustments of: $130 million mark-to-market gains on technology investments, and $156 million one-time loss on Millrose exchange offer Net earnings of $2.1 billion New orders increased 9% year over year to 83,978 homes Deliveries increased 3% year over year to 82,583 homes Total revenues of $34.2 billion Gross margin on home sales of 17.7%; net margin of 9.3% Completed spin-off of Millrose and acquisition of Rausch Coleman Homes' homebuilding operations in February Repurchased 22.1 million shares; 14.1 million shares of Lennar common stock for $1.7 billion in cash and 8.0 million shares through Millrose exchange offer MIAMI , Dec. 16, 2025 /PRNewswire/ -- Lennar Corporation (NYSE: LEN and LEN.B), one of the nation's largest homebuilders, today reported results for its fourth quarter and fiscal year ended November 30, 2025. Fourth quarter net earnings attributable to Lennar in 2025 were $490 million, or $1.93 per diluted share, compared to $1.1 billion, or $4.06 per diluted share in the fourth quarter of 2024.

Margins are important for home-builder stocks as companies have offered incentives like free upgrades to close deals.

LEN heads into Q4 earnings with falling revenues and pressured margins, but a sharp rebound in orders as incentives lift demand amid housing uncertainty.

Lennar Corporation (NYSE: LEN) will release earnings results for the fourth quarter after the closing bell on Tuesday.

On Holding, Lennar, Jefferies, Omnicom and Thomson are included in this Analyst Blog.