Filing Flows › Lennar (LEN) › Q3 FY25
Lennar (LEN) Q3 FY25 earnings results (third quarter fiscal 2025)
10-Q filed Oct 3, 2025
Lennar (LEN) reported revenue of $8.8B for the third quarter fiscal 2025 (Q3 FY25), -6% from a year earlier and +5% from the quarter before. Operating margin was 7.9%, net earnings $591M (6.7% of revenue).
Lennar, Q3 FY25: revenue $8.8B (-6% year over year), operating margin 7.9%, net earnings $591M, operating cash flow −$159M. The chart follows the revenue to costs, profit and cash.
| Q3 FY25 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $8.8B | +5% | -6% |
| Operating profit | $700M | +11% | -46% |
| Net earnings | $591M | +24% | -49% |
| Operating cash flow | −$159M | — | — |
What changed
Revenue was $8.8B in Q3 FY25, down 6% year over year and up 5% from the previous quarter.
Operating profit was $0.70B, a 7.9% margin (down 5.7 points year over year). Total costs fell 0% while revenue fell 6%. Net earnings were $0.59B, down 49% year over year. The effective tax rate was 24.1%.
Operating cash flow was −$0.16B. Non-cash charges added back $0.03B of depreciation and amortization and $0.03B of share-based compensation. Working capital and other items used $0.82B. Capital expenditures of $0.03B exceeded it, leaving free cash flow of −$0.19B.
Questions
What was Lennar's revenue in the third quarter fiscal 2025?
Lennar (LEN) reported revenue of $8.8B for the third quarter fiscal 2025 (Q3 FY25), -6% from a year earlier and +5% from the quarter before.
Was Lennar profitable in the third quarter fiscal 2025?
Operating profit was $700M (7.9% of revenue) and net earnings $591M.
Source: Lennar 10-Q on SEC EDGAR.