Lennar Q2 EPS $1.24 ($1.31 adj.) down 31% YoY; new orders -4%; full-year delivery guidance cut to 82k-83k homes

LENNAR CORP /NEW/

Net earnings $305M ($1.24/diluted); adj. EPS $1.31 ex mark-to-market losses on tech investments.
New orders 21,749 (-4% YoY); deliveries 20,519 (+2% YoY); avg. sales price $371K (-5% YoY).
Gross margin on home sales 15.6% (down from 17.8% YoY); SG&A 9.2% of home sales (up from 8.8%).
Repurchased 5M shares for $447M at avg price $89.35.
Q3 guidance: deliveries 20,500-21,500; gross margin ~16%; FY deliveries now ~82k-83k (moderating).

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

LENNAR CORP /NEW/ reported second quarter ended May 31, 2026 results: net income $305 million, EPS $1.24 per diluted share.

Period: second quarter ended May 31, 2026
Net income: $305 million
EPS: $1.24 per diluted share
Result: reported results

Exact text from the filing

second quarter net earnings attributable to Lennar in 2026 were $305 million, or $1.24 per diluted share

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LENNAR CORP /NEW/ filing history →

Source: SEC EDGAR

accession 0001628280-26-042551

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