The Investor
13 Mar 2026, 20:06
Lennar reported first-quarter fiscal 2026 net earnings of $229 million, or $0.93 per diluted share, down from $520 million, or $1.96 per share, in the same period a year earlier, reflecting continued pressure from high mortgage rates and housing affordability challenges.
Total revenue reached $6.6 billion during the quarter. The company delivered 16,863 homes, down 5% year over year, while new orders rose 1% to 18,515 homes. Lennar ended the quarter with a backlog of 15,588 homes valued at about $6.0 billion. Gross margin on home sales was 15.2%.
The homebuilder said it continues to prioritize volume and affordability through pricing adjustments and incentives, while improving operational efficiency. For the second quarter, Lennar expects to deliver 20,000 to 21,000 homes with gross margins between 15.5% and 16%.
PRNewswire
Total revenue reached $6.6 billion during the quarter. The company delivered 16,863 homes, down 5% year over year, while new orders rose 1% to 18,515 homes. Lennar ended the quarter with a backlog of 15,588 homes valued at about $6.0 billion. Gross margin on home sales was 15.2%.
The homebuilder said it continues to prioritize volume and affordability through pricing adjustments and incentives, while improving operational efficiency. For the second quarter, Lennar expects to deliver 20,000 to 21,000 homes with gross margins between 15.5% and 16%.
PRNewswire
