From Financial Modeling Prep: 2025-03-21 07:59:00

Lennar Corporation (NYSE:LEN) reported strong Q1 results with adjusted EPS of $2.14, beating estimates, and revenue of $7.6 billion, up 5% YoY. Despite delivering 17,834 homes and seeing a 1% rise in new orders, the average sales price dropped 1% to $408,000. Gross margin on home sales fell to 18.7%.

Shares of Lennar fell nearly 3% in pre-market trading after the company provided a disappointing margin outlook for the current quarter. The homebuilder expects to deliver 19,500-20,500 homes in Q2, but anticipates a lower gross margin of around 18%, below Q1’s level. Investors are concerned about profitability trends despite strong operational results.



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