Quarterly ResultSep 16, 2026, 04:53 PM
Lennar Q3 Earnings Down 52% to $1.19/Share on Lower Revenues
AI Summary
Lennar Corporation reported its third quarter 2026 results, with net earnings of $284 million, or $1.19 per diluted share, a significant decrease compared to the prior year's $591 million, or $2.29 per diluted share. Total revenues also declined to $8.0 billion from $8.8 billion year-over-year. The company experienced a 9% decrease in new orders and a 3% decrease in home deliveries. Despite the lower earnings, Lennar continued its capital return program by repurchasing $256 million of stock and redeeming $400 million in senior notes.
Key Highlights
- Lennar reported Q3 2026 net earnings of $284 million, or $1.19 per diluted share, down from $591 million, or $2.29 per diluted share, in Q3 2025.
- Total revenues for Q3 2026 were $8.0 billion, a decrease from $8.8 billion in Q3 2025.
- New orders decreased 9% to 20,879 homes in Q3 2026 compared to the prior year.
- Deliveries decreased 3% to 20,840 homes in Q3 2026 compared to the prior year.
- Homebuilding operating earnings were $502 million in Q3 2026, down from $760 million in Q3 2025.
- Financial Services operating earnings were $129 million in Q3 2026, down from $177 million in Q3 2025.
- Lennar repurchased 3 million shares of common stock for $256 million in Q3 2026.
- The company redeemed $400 million of senior notes due June 2026.
Price Impact
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