Lennar (LEN) Q4 Earnings: Taking a Look at Key Metrics Versus Estimates

Core Insights - Lennar reported revenue of $9.37 billion for the quarter ended November 2025, a decrease of 5.8% year-over-year, with EPS at $2.03 compared to $4.03 in the same quarter last year, indicating a significant decline in profitability [1] - The revenue exceeded the Zacks Consensus Estimate of $9.13 billion by 2.66%, while the EPS fell short of the consensus estimate of $2.23 by 8.97% [1] Financial Performance Metrics - Average sales price for deliveries was $386.00, slightly above the estimated $385.77 [4] - New orders totaled 20,018, below the average estimate of 20,431 [4] - Deliveries amounted to 23,034 homes, surpassing the estimate of 21,855 [4] - Active communities totaled 1,708, slightly below the estimate of 1,714 [4] - Backlog of homes was 13,936, lower than the estimated 15,022 [4] Revenue Breakdown - Financial Services revenue was $308.83 million, slightly below the estimate of $313.21 million, representing a year-over-year increase of 1.4% [4] - Homebuilding revenue from sales of homes was $8.85 billion, exceeding the estimate of $8.76 billion, but down 6.8% year-over-year [4] - Revenue from sales of land was $21.19 million, significantly below the estimate of $28.56 million, reflecting a 46.5% year-over-year decline [4] - Multifamily revenue reached $158.66 million, close to the estimate of $158.92 million, with a substantial year-over-year increase of 78.4% [4] - Other homebuilding revenue was $9.24 million, exceeding the estimate of $7.09 million, marking a year-over-year increase of 13.7% [4] - Overall homebuilding revenue was $8.89 billion, above the estimate of $8.66 billion, but down 7% year-over-year [4] - Revenue from Lennar Other was $14.85 million, significantly above the estimate of $7.73 million, showing a remarkable year-over-year increase of 213.5% [4] Stock Performance - Lennar's shares returned +4.9% over the past month, outperforming the Zacks S&P 500 composite's +1.3% change [3] - The stock currently holds a Zacks Rank 3 (Hold), suggesting it may perform in line with the broader market in the near term [3]