<p>萊納房產（NYSE: LEN）的股價在週二下跌超過 2%。該股票在過去三個月中下跌了 14%。這家房屋建築商計劃於 2025 年 12 月 16 日市場收盤後公佈其 2025 年第四季度的財報。以下是對財報的預期：</p>
<p><img src="https://imageproxy.pbkrs.com/https://cdn.news.alphastreet.com/wp-content/uploads/2025/09/Lennar-Corporation-Q3-2025.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" width="1024" height="768" original-src="https://imageproxy.pbkrs.com/https://cdn.news.alphastreet.com/wp-content/uploads/2025/09/Lennar-Corporation-Q3-2025.png"/></p>
<h2><strong>收入</strong></h2>
<p>分析師預計萊納房產在 2025 年第四季度的收入為 91.4 億美元，比去年同期下降超過 8%。在 2025 年第三季度，收入同比下降 6%，為 88 億美元。</p>
<h2><strong>盈利</strong></h2>
<p>萊納房產預計 2025 年第四季度每股收益為 2.10-2.30 美元。分析師預測每股收益為 2.24 美元，較去年同期下降 44%。在 2025 年第三季度，調整後的每股收益同比下降 49%，為 2.00 美元。</p>
<p>萊納房產 2025 年第三季度盈利信息圖</p>
<h2><strong>注意事項</strong></h2>
<p>萊納房產面臨住房市場疲軟、抵押貸款利率和經濟不確定性等逆風。儘管住房需求強勁，但由於成本高企，購房的可負擔性仍然受到壓力。在第三季度的財報電話會議上，公司提到利率的下降導致購房者對購房的興趣回升。較低的利率可能推動了房屋銷售的增長。</p>
<p>上個季度，萊納房產下調了對第四季度的預期，以減輕銷售和交付的壓力。公司預計第四季度交付量將在 22,000-23,000 之間，新訂單將在 20,000-21,000 之間。預計平均銷售價格為 38 萬美元至 39 萬美元，毛利率預計為 17.5%，與第三季度持平。</p>
<p>在第三季度，新訂單同比增長 12%，但交付量保持平穩。萊納房產在維持銷售量方面遇到困難，不得不提供更多激勵措施以推動銷售，避免庫存過剩，這對毛利率造成了影響。公司看到平均銷售價格下降 9%，降至 38.3 萬美元，毛利率從去年同期的 22.5% 降至 17.5%。</p>
<p>萊納房產一直在遵循將銷售速度與生產速度相匹配的戰略，並降低建築成本以實現可負擔性，支持供需平衡。這一戰略可能有助於其在第四季度的表現。</p>
<p>萊納房產（LEN）財報預覽：預計 2025 年第四季度收入和盈利將下降的文章首次出現在 AlphaStreet。</p>

萊納房產-A

萊納房產-B

<p>萊納房產公司（NYSE: LEN）預計將在 2025 年第四季度報告較低的收入和收益，分析師預測收入將下降超過 8%，降至 91.4 億美元，每股收益（EPS）為 2.24 美元，比去年下降 44%。儘管需求強勁，公司仍面臨住房市場疲軟和經濟不確定性的挑戰。萊納的策略是將銷售速度與生產相匹配，並降低建築成本，這可能會支持其第四季度的表現</p>

<p>Shares of Lennar Corporation (NYSE: LEN) fell over 2% on Tuesday. The stock has dropped 14% in the past three months. The homebuilder is scheduled to report its earnings results for the fourth quarter of 2025 on Tuesday, December 16, after the market closes. Here’s a look at what to expect from the earnings report:</p>
<div class="lb-trans"><p>萊納房產（NYSE: LEN）的股價在週二下跌超過 2%。該股票在過去三個月中下跌了 14%。這家房屋建築商計劃於 2025 年 12 月 16 日市場收盤後公佈其 2025 年第四季度的財報。以下是對財報的預期：</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://cdn.news.alphastreet.com/wp-content/uploads/2025/09/Lennar-Corporation-Q3-2025.png" alt="" original-src="https://cdn.news.alphastreet.com/wp-content/uploads/2025/09/Lennar-Corporation-Q3-2025.png"/></p>
<h2><strong>Revenue</strong></h2>
<div class="lb-trans"><h2><strong>收入</strong></h2>
</div><p>Analysts are projecting revenue of $9.14 billion for Lennar for the fourth quarter of 2025, which indicates a decline of over 8% from the same period a year ago. In the third quarter of 2025, revenues decreased 6% year-over-year to $8.8 billion.</p>
<div class="lb-trans"><p>分析師預計萊納房產在 2025 年第四季度的收入為 91.4 億美元，比去年同期下降超過 8%。在 2025 年第三季度，收入同比下降 6%，為 88 億美元。</p>
</div><h2><strong>Earnings</strong></h2>
<div class="lb-trans"><h2><strong>盈利</strong></h2>
</div><p>Lennar has guided for earnings per share of $2.10-2.30 for Q4 2025. Analysts are predicting EPS of $2.24, which points to a decline of 44% from the prior-year quarter. In Q3 2025, adjusted EPS fell 49% YoY to $2.00.</p>
<div class="lb-trans"><p>萊納房產預計 2025 年第四季度每股收益為 2.10-2.30 美元。分析師預測每股收益為 2.24 美元，較去年同期下降 44%。在 2025 年第三季度，調整後的每股收益同比下降 49%，為 2.00 美元。</p>
</div><p>Lennar Q3 2025 Earnings Infographic</p>
<div class="lb-trans"><p>萊納房產 2025 年第三季度盈利信息圖</p>
</div><h2><strong>Points to note</strong></h2>
<div class="lb-trans"><h2><strong>注意事項</strong></h2>
</div><p>Lennar has been facing headwinds from housing market softness, mortgage rates, and economic uncertainty. Although there is high demand for housing, affordability has remained pressured due to high costs. On its Q3 earnings call, the company mentioned that the drop in interest rates had led to a pickup in interest from homebuyers to move forward with home purchases. Lower interest rates may have helped push home sales forward.</p>
<div class="lb-trans"><p>萊納房產面臨住房市場疲軟、抵押貸款利率和經濟不確定性等逆風。儘管住房需求強勁，但由於成本高企，購房的可負擔性仍然受到壓力。在第三季度的財報電話會議上，公司提到利率的下降導致購房者對購房的興趣回升。較低的利率可能推動了房屋銷售的增長。</p>
</div><p>Last quarter, Lennar lowered its expectations for the fourth quarter to relieve pressure on sales and deliveries. The company expects deliveries to range between 22,000-23,000 and new orders to range between 20,000-21,000 for Q4. Average sales price is expected to be $380,000-390,000 and gross margin is expected to be 17.5%, in line with the third quarter.</p>
<div class="lb-trans"><p>上個季度，萊納房產下調了對第四季度的預期，以減輕銷售和交付的壓力。公司預計第四季度交付量將在 22,000-23,000 之間，新訂單將在 20,000-21,000 之間。預計平均銷售價格為 38 萬美元至 39 萬美元，毛利率預計為 17.5%，與第三季度持平。</p>
</div><p>In Q3, new orders increased 12% YoY but deliveries remained flat. LEN faced difficulty maintaining sales volume and had to offer more incentives to drive sales and avoid building up excess inventory, which took a toll on margins. The company saw average sales price decline 9% to $383,000 and gross margin drop to 17.5% from 22.5% a year ago.</p>
<div class="lb-trans"><p>在第三季度，新訂單同比增長 12%，但交付量保持平穩。萊納房產在維持銷售量方面遇到困難，不得不提供更多激勵措施以推動銷售，避免庫存過剩，這對毛利率造成了影響。公司看到平均銷售價格下降 9%，降至 38.3 萬美元，毛利率從去年同期的 22.5% 降至 17.5%。</p>
</div><p>Lennar has been following its strategy of matching its sales pace to its production pace and it has been lowering its construction costs to enable affordability and support the supply and demand balance. This strategy is likely to have helped its performance in the fourth quarter.</p>
<div class="lb-trans"><p>萊納房產一直在遵循將銷售速度與生產速度相匹配的戰略，並降低建築成本以實現可負擔性，支持供需平衡。這一戰略可能有助於其在第四季度的表現。</p>
</div><p>The post Lennar (LEN) Earnings Preview: Lower revenue and earnings expected for Q4 2025 first appeared on AlphaStreet.</p>
<div class="lb-trans"><p>萊納房產（LEN）財報預覽：預計 2025 年第四季度收入和盈利將下降的文章首次出現在 AlphaStreet。</p>
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萊納房產-A (LEN) 財報預覽：預計 2025 年第四季度的收入和收益將下降