Lennar Corporation (LEN) — Earnings Call X-Ray
Our AI read all 39 of LEN's earnings calls (2015–2025) and answered the same battery of questions about each one. Every past call is free; the newest quarter unlocks with a free account.
Previous Call Grade
B
Q1 2025
Calls Analyzed
39
2015–2025
Avg Candor
7.2/9
evasion 2.8/9
Call-by-call analysis
🔒 Q2 2025 earnings call
2025-06-17
NEWEST
Guidance: ■■■■■Demand: ■■■■■■
Margins: ■■■■Backlog: ■■■■
■ analysts, ■■ questionsexpected move ±■■%
Management ■■■■■■ guidance against ■■■■■■■■ demand and ■■■■■■■ margins. The delivery was ■■■■■■■■ and ■■■■ in specifics, with ■■■ questions left hanging.
🔒 The Q2 2025 call grade is ready
The full 37-point AI read of LEN's newest earnings call — grade, expected move, and every question answered — is free with an account.
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B
Q1 2025 earnings call
2025-03-21
Management held guidance steady against slowing demand and contracting margins. The delivery was unusually candid, rich in specifics.
Guidance: maintainedDemand: slowingMargins: contractingBacklog: shrinkingPricing: under pressureCapex: decreasing 6 analysts · 11 questions
⚑ Critic ammunition✓ Skeptic reassured⚑ Question left hanging✓ Guidance underwritable✓ Resolves doubts⚑ Reads rehearsed
All 20 questions our AI answered about this call
YES Would a skeptical short-seller find this call reassuring?
YES Would a careful investor underwrite management's guidance?
YES Is management's confidence proportionate to the evidence presented?
YES Does the call resolve more doubts than it creates?
YES Is there something a critic could fairly use against the company?
NO Is a claimed advantage dependent on scale they lack?
YES Does an obvious question remain unanswered?
NO Is a product early in its life but growing very fast?
NO Do they serve a small fraction of their addressable customers?
NO Is volume about to step up rather than grow gradually?
NO Are high fixed costs currently underutilised?
NO Is pricing recovering from a depressed level?
YES Do current results look bad while the direction looks better?
NO Are deferred revenue or customer prepayments growing?
YES Is consolidation happening among their peers?
NO Is a founder still running the company?
NO Does the final speaker sound like they are summarizing a finished story?
NO Is a fast-growing segment obscured by a declining one?
NO Does the CFO speak more than the CEO?
YES Does the call read rehearsed rather than lived?
D
Q4 2024 earnings call
2024-12-19
Management lowered guidance against slowing demand and contracting margins. The delivery was unusually candid, rich in specifics.
Guidance: loweredDemand: slowingMargins: contractingBacklog: shrinkingPricing: under pressureCapex: decreasing 5 analysts · 10 questions
⚑ Critic ammunition⚑ Question left hanging✓ Guidance underwritable✓ Resolves doubts⚑ Reads rehearsedDirection beats results
All 20 questions our AI answered about this call
NO Would a skeptical short-seller find this call reassuring?
YES Would a careful investor underwrite management's guidance?
YES Is management's confidence proportionate to the evidence presented?
YES Does the call resolve more doubts than it creates?
YES Is there something a critic could fairly use against the company?
NO Is a claimed advantage dependent on scale they lack?
YES Does an obvious question remain unanswered?
NO Is a product early in its life but growing very fast?
NO Do they serve a small fraction of their addressable customers?
NO Is volume about to step up rather than grow gradually?
NO Are high fixed costs currently underutilised?
NO Is pricing recovering from a depressed level?
YES Do current results look bad while the direction looks better?
NO Are deferred revenue or customer prepayments growing?
YES Is consolidation happening among their peers?
NO Is a founder still running the company?
NO Does the final speaker sound like they are summarizing a finished story?
NO Is a fast-growing segment obscured by a declining one?
NO Does the CFO speak more than the CEO?
YES Does the call read rehearsed rather than lived?
C
Q3 2024 earnings call
2024-09-20
Management held guidance steady against steady demand and contracting margins. The delivery was unusually candid, rich in specifics.
Guidance: maintainedDemand: stableMargins: contractingBacklog: stablePricing: under pressureCapex: decreasing 6 analysts · 12 questions
⚑ Critic ammunition⚑ Question left hanging✓ Guidance underwritable✓ Resolves doubtsDirection beats results
All 20 questions our AI answered about this call
NO Would a skeptical short-seller find this call reassuring?
YES Would a careful investor underwrite management's guidance?
YES Is management's confidence proportionate to the evidence presented?
YES Does the call resolve more doubts than it creates?
YES Is there something a critic could fairly use against the company?
NO Is a claimed advantage dependent on scale they lack?
YES Does an obvious question remain unanswered?
NO Is a product early in its life but growing very fast?
NO Do they serve a small fraction of their addressable customers?
NO Is volume about to step up rather than grow gradually?
NO Are high fixed costs currently underutilised?
NO Is pricing recovering from a depressed level?
YES Do current results look bad while the direction looks better?
NO Are deferred revenue or customer prepayments growing?
NO Is consolidation happening among their peers?
NO Is a founder still running the company?
NO Does the final speaker sound like they are summarizing a finished story?
NO Is a fast-growing segment obscured by a declining one?
NO Does the CFO speak more than the CEO?
NO Does the call read rehearsed rather than lived?
C+
Q2 2024 earnings call
2024-06-18
Management held guidance steady against steady demand and expanding margins. The delivery was unusually candid, rich in specifics.
Guidance: maintainedDemand: stableMargins: expandingBacklog: stablePricing: under pressureCapex: decreasing 6 analysts · 12 questions
⚑ Critic ammunition✓ Skeptic reassured⚑ Question left hanging✓ Resolves doubts⚑ Reads rehearsedFounder-led
All 20 questions our AI answered about this call
YES Would a skeptical short-seller find this call reassuring?
NO Would a careful investor underwrite management's guidance?
YES Is management's confidence proportionate to the evidence presented?
YES Does the call resolve more doubts than it creates?
YES Is there something a critic could fairly use against the company?
NO Is a claimed advantage dependent on scale they lack?
YES Does an obvious question remain unanswered?
NO Is a product early in its life but growing very fast?
NO Do they serve a small fraction of their addressable customers?
NO Is volume about to step up rather than grow gradually?
NO Are high fixed costs currently underutilised?
NO Is pricing recovering from a depressed level?
NO Do current results look bad while the direction looks better?
NO Are deferred revenue or customer prepayments growing?
NO Is consolidation happening among their peers?
YES Is a founder still running the company?
NO Does the final speaker sound like they are summarizing a finished story?
NO Is a fast-growing segment obscured by a declining one?
NO Does the CFO speak more than the CEO?
YES Does the call read rehearsed rather than lived?
C+
Q1 2024 earnings call
2024-03-14
Management held guidance steady against steady demand and expanding margins. The delivery was rich in specifics.
Guidance: maintainedDemand: stableMargins: expandingBacklog: growingPricing: under pressureCapex: decreasing 5 analysts · 9 questions
⚑ Critic ammunition✓ Skeptic reassured⚑ Question left hanging✓ Guidance underwritable✓ Resolves doubts⚑ Reads rehearsed
All 20 questions our AI answered about this call
YES Would a skeptical short-seller find this call reassuring?
YES Would a careful investor underwrite management's guidance?
YES Is management's confidence proportionate to the evidence presented?
YES Does the call resolve more doubts than it creates?
YES Is there something a critic could fairly use against the company?
NO Is a claimed advantage dependent on scale they lack?
YES Does an obvious question remain unanswered?
NO Is a product early in its life but growing very fast?
NO Do they serve a small fraction of their addressable customers?
NO Is volume about to step up rather than grow gradually?
NO Are high fixed costs currently underutilised?
NO Is pricing recovering from a depressed level?
NO Do current results look bad while the direction looks better?
NO Are deferred revenue or customer prepayments growing?
NO Is consolidation happening among their peers?
NO Is a founder still running the company?
NO Does the final speaker sound like they are summarizing a finished story?
NO Is a fast-growing segment obscured by a declining one?
NO Does the CFO speak more than the CEO?
YES Does the call read rehearsed rather than lived?
C+
Q4 2023 earnings call
2023-12-15
Management held guidance steady against steady demand and contracting margins. The delivery was unusually candid, rich in specifics.
Guidance: maintainedDemand: stableMargins: contractingBacklog: stablePricing: under pressure 5 analysts · 9 questions
⚑ Critic ammunition✓ Skeptic reassured✓ Guidance underwritable✓ Resolves doubts⚑ Reads rehearsedDirection beats results
All 20 questions our AI answered about this call
YES Would a skeptical short-seller find this call reassuring?
YES Would a careful investor underwrite management's guidance?
YES Is management's confidence proportionate to the evidence presented?
YES Does the call resolve more doubts than it creates?
YES Is there something a critic could fairly use against the company?
NO Is a claimed advantage dependent on scale they lack?
NO Does an obvious question remain unanswered?
NO Is a product early in its life but growing very fast?
NO Do they serve a small fraction of their addressable customers?
NO Is volume about to step up rather than grow gradually?
NO Are high fixed costs currently underutilised?
YES Is pricing recovering from a depressed level?
YES Do current results look bad while the direction looks better?
NO Are deferred revenue or customer prepayments growing?
NO Is consolidation happening among their peers?
NO Is a founder still running the company?
NO Does the final speaker sound like they are summarizing a finished story?
NO Is a fast-growing segment obscured by a declining one?
NO Does the CFO speak more than the CEO?
YES Does the call read rehearsed rather than lived?
B+
Q3 2023 earnings call
2023-09-15
Management raised guidance against steady demand and expanding margins. The delivery was unusually candid, rich in specifics, relaxed under questioning.
Guidance: raisedDemand: stableMargins: expandingBacklog: growingPricing: under pressure 6 analysts · 11 questions
⚑ Critic ammunition✓ Skeptic reassured✓ Guidance underwritable✓ Resolves doubtsFounder-led
All 20 questions our AI answered about this call
YES Would a skeptical short-seller find this call reassuring?
YES Would a careful investor underwrite management's guidance?
YES Is management's confidence proportionate to the evidence presented?
YES Does the call resolve more doubts than it creates?
YES Is there something a critic could fairly use against the company?
NO Is a claimed advantage dependent on scale they lack?
NO Does an obvious question remain unanswered?
NO Is a product early in its life but growing very fast?
NO Do they serve a small fraction of their addressable customers?
NO Is volume about to step up rather than grow gradually?
NO Are high fixed costs currently underutilised?
NO Is pricing recovering from a depressed level?
NO Do current results look bad while the direction looks better?
NO Are deferred revenue or customer prepayments growing?
NO Is consolidation happening among their peers?
YES Is a founder still running the company?
NO Does the final speaker sound like they are summarizing a finished story?
NO Is a fast-growing segment obscured by a declining one?
NO Does the CFO speak more than the CEO?
NO Does the call read rehearsed rather than lived?
Earlier calls
| Call | Date | Grade | Guidance | Demand | Margins | Candor | Evasion |
|---|
| Q2 2023 |
2023-06-15 |
A |
raised | stable | expanding |
7/9 |
3/9 |
| Q1 2023 |
2023-03-15 |
B+ |
raised | stable | contracting |
8/9 |
3/9 |
| Q4 2022 |
2022-12-15 |
C+ |
lowered | slowing | contracting |
8/9 |
3/9 |
| Q3 2022 |
2022-09-22 |
D |
lowered | slowing | contracting |
8/9 |
4/9 |
| Q2 2022 |
2022-06-21 |
D |
maintained | slowing | contracting |
7/9 |
4/9 |
| Q1 2022 |
2022-03-17 |
B+ |
raised | accelerating | expanding |
8/9 |
2/9 |
| Q4 2021 |
2021-12-16 |
C+ |
maintained | stable | expanding |
7/9 |
2/9 |
| Q3 2021 |
2021-09-21 |
C |
lowered | stable | expanding |
8/9 |
3/9 |
| Q2 2021 |
2021-06-17 |
B+ |
raised | stable | expanding |
7/9 |
2/9 |
| Q1 2021 |
2021-03-17 |
B+ |
raised | accelerating | expanding |
7/9 |
3/9 |
| Q4 2020 |
2020-12-17 |
A |
raised | accelerating | expanding |
7/9 |
3/9 |
| Q4 2020 |
2020-09-15 |
A |
raised | accelerating | expanding |
7/9 |
3/9 |
| Q2 2020 |
2020-06-16 |
C+ |
maintained | accelerating | expanding |
7/9 |
3/9 |
| Q1 2020 |
2020-03-19 |
D |
withdrawn | mixed | stable |
8/9 |
4/9 |
| Q4 2019 |
2020-01-08 |
B+ |
maintained | accelerating | expanding |
7/9 |
2/9 |
| Q3 2019 |
2019-10-03 |
B |
raised | accelerating | expanding |
6/9 |
3/9 |
| Q2 2019 |
2019-06-25 |
B+ |
maintained | stable | contracting |
8/9 |
2/9 |
| Q1 2019 |
2019-03-27 |
C+ |
maintained | accelerating | expanding |
7/9 |
3/9 |
| Q4 2018 |
2019-01-09 |
D |
withdrawn | slowing | contracting |
7/9 |
4/9 |
| Q3 2018 |
2018-10-03 |
C |
lowered | slowing | contracting |
7/9 |
3/9 |
| Q2 2018 |
2018-06-26 |
B+ |
raised | stable | expanding |
7/9 |
3/9 |
| Q1 2018 |
2018-04-04 |
A |
raised | accelerating | expanding |
7/9 |
2/9 |
| Q4 2017 |
2018-01-10 |
A |
maintained | accelerating | contracting |
8/9 |
1/9 |
| Q3 2017 |
2017-10-03 |
B |
lowered | stable | contracting |
7/9 |
3/9 |
| Q2 2017 |
2017-06-20 |
A |
raised | accelerating | stable |
7/9 |
2/9 |
| Q1 2017 |
2017-03-21 |
B+ |
raised | accelerating | contracting |
7/9 |
2/9 |
| Q4 2016 |
2016-12-19 |
C |
maintained | stable | contracting |
6/9 |
4/9 |
| Q3 2016 |
2016-09-20 |
B+ |
raised | stable | contracting |
7/9 |
3/9 |
| Q2 2016 |
2016-06-21 |
B+ |
raised | stable | contracting |
7/9 |
2/9 |
| Q1 2016 |
2016-03-29 |
C+ |
lowered | stable | contracting |
7/9 |
2/9 |
| Q4 2015 |
2015-12-18 |
C |
lowered | stable | contracting |
7/9 |
3/9 |
How to read this page
The grade is a transparent composite of call quality — candor, specificity, low evasion, low stress, whether the call resolves more doubts than it creates, and the guidance action — not a buy or sell signal. The expected move is a volatility estimate from the one signal that survived our out-of-sample tests: how a stock's own reaction and pre-call volatility predict the size (not direction) of its next move. Full detail, including everything that failed: methodology.
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