Lennar Corporation (LEN-B) reported third-quarter 2026 net earnings attributable to Lennar of $283.9 million, or $1.19 per diluted share, on total revenue of $8.0 billion for the quarter ended August 31.
Third-quarter revenue was $8.05 billion, compared with $8.81 billion a year earlier. New orders declined 9% to 20,879 homes, while deliveries fell 3% to 20,840 homes.
- Net earnings attributable to Lennar were $283.9 million, versus $591.0 million in the prior-year quarter.
- Homebuilding revenue was $7.76 billion, down from $8.25 billion a year earlier.
- Home sales gross margin was 15.8%, compared with 17.5% in the prior-year quarter.
- Backlog totaled 16,857 homes with a dollar value of $6.35 billion at August 31.
- The company repurchased 3 million shares for $256 million and redeemed $400 million of senior notes.
- Fourth-quarter guidance calls for 19,500 to 20,500 new orders and 22,000 to 23,000 deliveries.
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