Lennar Corporation Reports Q2 2025 Financial Results

Lennar Corporation ( (LEN) ) has released its Q2 earnings. Here is a breakdown of the information Lennar Corporation presented to its investors.

Lennar Corporation, a leading homebuilder in the United States, specializes in constructing affordable, move-up, and active adult homes, and offers financial services and multifamily rental properties. In its second quarter of 2025, Lennar reported net earnings of $477 million, with new orders increasing by 6% to 22,601 homes and total revenues reaching $8.4 billion. Despite a challenging market environment, the company maintained a strong balance sheet with $5.4 billion in liquidity and repurchased $517 million of its common stock.

Key financial metrics from the quarter include a 2% increase in home deliveries to 20,131 homes and a gross margin on home sales of 17.8%. The Financial Services segment saw an increase in operating earnings to $157 million, while the Multifamily segment reported a reduced operating loss of $15 million. The company also issued $700 million in senior notes and repurchased 4.7 million shares of its stock.

Lennar’s strategic focus on operational efficiency was evident as the company reduced its cycle time by 12% and improved inventory turn rates. However, the average sales price of homes delivered decreased to $389,000, reflecting softer market conditions and higher mortgage interest rates. The company remains committed to its asset-light land strategy and aims to maintain production and sales pace alignment.

Looking ahead, Lennar anticipates new orders and deliveries to range between 22,000 and 23,000 homes in the third quarter of 2025, with a gross margin expected to remain around 18%. The company continues to focus on driving efficiencies and maintaining consistent volume in response to evolving market conditions.