Lennar Q4 Revenue Drops 6%, New Orders Jump 18%
Lennar reported Q4 fiscal 2025 revenue of $9.37B, down 6% year-over-year, with EPS of $1.93 missing the $2.25 consensus. New orders jumped 18% to 20,018 homes and active communities rose to 1,708, while gross margins fell to 17% from 22.1%.
1. Q4 Fiscal 2025 Results
Lennar reported Q4 fiscal 2025 revenue of $9.37 billion, down 6% year over year, and posted EPS of $1.93 versus a $2.25 consensus estimate. Gross margin on home sales compressed to 17.0% from 22.1% as the company offered roughly 14% in incentives and price adjustments to maintain volume.
2. New Orders and Communities
New orders surged 18% to 20,018 homes during the quarter, while active communities expanded to 1,708 from 1,447, reflecting strong demand in South Florida’s housing market. The increase in orders underscores resilience among homebuyers despite affordability challenges.
3. Valuation and Outlook
Shares trade just above a 52-week low of $96.40 with a trailing P/E of 12x, indicating market skepticism amid regional housing headwinds. Analysts are monitoring supply dynamics in Miami and South Florida as key factors for Lennar’s near-term performance.