Company: LEN
Filing Date: 2025-07-01
Form Type: 10-Q
Source: 0001628280-25-033777
Chunk: 184

Company: LENNAR CORP /NEW/
Filing Date: 2025-07-01
Form: 10-Q
Item: Item 2
Chunk 184
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4,665,604 19.4 %754,515 851 3,208 3,713 25,437 787,724 Other (2)13,160 16,887 (28.3)%(13,130)— 6,140 12,688 20,355 26,053 Totals$15,259,531 11,865,484 22.2 %2,196,460 13,430 18,169 28,818 112,074 2,368,951 

(1)Net margins on sales of homes include selling, general and administrative expenses.

(2)Negative gross and net margins were due to period costs in Urban divisions that impact costs of homes sold without sufficient sales of homes revenue to offset those costs.

36

Summary of Homebuilding Data

Deliveries:

Three Months Ended May 31,202520242025202420252024HomesDollar Value (In thousands)Average Sales PriceEast4,676 5,324 $1,740,181 2,158,317 $372,000 405,000 Central4,604 4,393 1,769,582 1,769,842 384,000 403,000 South Central6,174 4,669 1,505,750 1,194,525 244,000 256,000 West4,669 5,292 2,818,980 3,263,904 604,000 617,000 Other8 12 4,834 6,343 604,000 529,000 Total20,131 19,690 $7,839,327 8,392,931 $389,000 426,000 

Of the total homes delivered listed above, 113 homes with a dollar value of $51.1 million and an average sales price of $452,000 represent homes from unconsolidated entities for the three months ended May 31, 2025, compared to 70 homes with a dollar value of $35.2 million and an average sales price of $503,000 for the three months ended May 31, 2024.

Six Months Ended May 31,202520242025202420252024HomesDollar Value (In thousands)Average Sales PriceEast8,987 9,907 $3,409