Lennar B 2025 Q3 Earnings Net Income Plummets 49.5%

Lennar B (LEN.B) reported its fiscal 2025 Q3 earnings on October 3rd, 2025. The results fell significantly below expectations, marked by a sharp decline in net income and earnings per share. While the company provided strategic guidance for full-year 2025, it did not include specific quantitative targets.

Revenue

Lennar B's total revenue for Q3 2025 dropped 6.4% to $8.81 billion, compared to $9.42 billion in the same period last year. Homebuilding remained the dominant revenue generator at $8.25 billion, while Financial Services and Multifamily operations contributed $314.19 million and $228.47 million, respectively. Smaller segments, including "Lennar Other," accounted for the remaining $13.94 million.

Earnings/Net Income

The company's net income for Q3 2025 fell sharply to $599.81 million, a 49.5% decrease from $1.19 billion in Q3 2024. Similarly, earnings per share (EPS) dropped by 46.2% to $2.29 from $4.26 in the prior year, underscoring the significant financial contraction during the quarter.

Price Action

Lennar B’s stock has exhibited mixed performance following the earnings report. During the latest trading day, the stock rose 0.24%. Over the past full trading week, the stock climbed 3.34%, but it has declined 3.44% month-to-date.

Post-Earnings Price Action Review

Following the earnings report, Lennar B's CEO emphasized the company's continued financial strength despite the challenging market conditions, citing strong performance in key markets and disciplined cost management. The CEO also addressed ongoing challenges such as interest rate uncertainty and housing affordability, while expressing confidence in the long-term trajectory of the housing sector. Strategic priorities include expanding into high-growth regions, investing in land and homebuilding operations, and maintaining operational efficiency. The leadership’s tone reflected cautious optimism as they navigate the evolving market landscape.

Guidance

For full-year 2025, the CEO outlined a focus on revenue growth and profitability, emphasizing disciplined land acquisition and leveraging the company’s strong balance sheet. Although no specific quantitative targets were provided, the CEO expressed confidence in achieving EPS growth and maintaining a robust net income margin.

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