Lennar Corp Class A

LEN: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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Lennar Earnings: Increased Sales Incentives Drive Order Growth; Home Delivery Guidance Lowered

Brian Bernard

Sep 19, 2025

Lennar's fiscal third quarter saw new orders increase 12% year over year to 23,004; however, greater sales incentives were needed to entice buyers. The average selling price of new orders declined 12% to $366,900, and Lennar's home sales gross profit margin narrowed 500 basis points to 17.5%.

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Lennar Corp Class A

Lennar Earnings: Increased Sales Incentives Drive Order Growth; Home Delivery Guidance Lowered

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