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Lennar Corporation (LEN) will report its third-quarter fiscal 2025 results after the market closes on September 18. For the quarter ending August 31, the Zacks Consensus Estimate for adjusted earnings per share (EPS) has decreased to $2.12, reflecting a 45.6% decline from $3.90 per share in the same period last year. Revenue is estimated at $9.04 billion, down 4% from $9.42 billion year-over-year.
Lennar anticipates home deliveries between 22,000 and 23,000 units, with an average selling price (ASP) of $380,000 to $385,000, compared to 21,516 homes sold at an ASP of $422,000 in the previous year. This is expected to result in a gross margin decrease to approximately 18%, down from 22.5% reported a year ago, indicating that the company is sacrificing margins to boost delivery volumes amid high mortgage rates.
Despite these challenges, new orders are projected to rise by nearly 10% year-over-year, between 22,000 and 23,000 units. However, backlog units are anticipated to decline 9.1% to 15,396, suggesting future revenue headwinds.
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