Company: LEN
Filing Date: 2025-07-01
Form Type: 10-Q
Source: 0001628280-25-033777
Chunk: 52

Company: LENNAR CORP /NEW/
Filing Date: 2025-07-01
Form: 10-Q
Item: Item 1
Chunk 52
---
s of land sold20,920 — — — — 20,920 Selling, general and administrative expenses1,197,587 — — — — 1,197,587 Other costs and expenses— 253,135 234,872 35,929 523,936 Total costs and expenses13,083,991 253,135 234,872 35,929 — 13,607,927 Equity in earnings (losses) from unconsolidated entities28,818 — (30,163)(33,509)— (34,854)Other income (expense), net and other gains (losses)112,074 — (255)21,725 — 133,544 Lennar Other unrealized losses from technology investments— — — (26,651)— (26,651)Operating earnings (loss)$2,368,951 278,308 (36,113)(68,512)— 2,542,634 Corporate general and administrative expenses— — — — 314,303 314,303 Charitable foundation contribution— — — — 36,488 36,488 Earnings (loss) before income taxes$2,368,951 278,308 (36,113)(68,512)(350,791)2,191,843 

On February 10, 2025, we completed our acquisition of Rausch Coleman Homes ("Rausch"). Prior year information includes only stand-alone data for Lennar Corporation for the three and six months ended May 31, 2024.

Three Months Ended May 31, 2025 versus Three Months Ended May 31, 2024 

Revenues from home sales decreased 7% in the second quarter of 2025 to $7.8 billion from $8.4 billion in the second quarter of 2024. Revenues were lower primarily due to a 9% decrease in the average sales price of homes delivered, partially offset by a 2% increase in the number of home deliveries. New home deliveries increased to 20,131 homes in the second quarter of 2025 from 19,690 homes in the second quarter of 2024. The average sales price of homes delivered was $389,000 in the second quarter of 2025, compared to $426,000