Lennar Corporation (NYSE: LEN) reported its second quarter 2025 earnings results.
Total revenues were $8.4 billion compared to $8.8 billion in the same period last year.
Net earnings attributable to Lennar were $477 million, or $1.81 per share, compared to $954 million, or $3.45 per share, last year. Adjusted EPS was $1.90.
New orders increased 6% to 22,601 homes while deliveries increased 2% to 20,131 homes in Q2. The company ended the quarter with a backlog of 15,538 homes with a dollar value of $6.5 billion.
The average sales price of homes delivered was $389,000 in Q2, compared to $426,000 in the prior-year quarter.
For the third quarter of 2025, Lennar expects both new orders and deliveries to range between 22,000-23,000. Average sales price is expected to range between $380,000-385,000.
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