Lennar Reports Q3 2025 Revenues of $9.42 Billion and Net Earnings of $591 Million
For the three months ended August 31, 2025, sales of homes revenue was $759.8 million, with costs of sales of homes at $177.9 million. Gross margin (loss) on sales of homes was $(16.5) million. Gross margins (losses) on sales of land amounted to $62.5 million. Other revenues totaled $983.7 million. Operating earnings (loss) for the period were $759.8 million, with corporate general and administrative expenses of $171.4 million and charitable foundation contributions of $21.6 million. Earnings (loss) before income taxes were $790.7 million. For the three months ended August 31, 2024, sales of homes revenue was $9.02 billion, and sales of land revenue was $19.5 million. Other revenues for the period were $378.9 million. Total revenues were $9.42 billion. Costs of homes sold were $6.99 billion, and costs of land sold were $22.7 million. For the nine months ended August 31, 2025, total revenues were $22.13 billion. Operating earnings for the period were $2.25 billion. Earnings before income taxes were $1.72 billion. Net earnings attributable to Lennar were $1.30 billion. Substantially all joint ventures were in compliance with applicable debt covenants at August 31, 2025.
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