Lennar Corp. (LEN) Misses Q1 EPS by 7c
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Lennar Reports First Quarter 2026 Results
March 12, 2026 4:30 PM EDTFirst Quarter 2026 Highlights
Net earnings per diluted share of $0.93 ($0.88 excluding mark-to-market gains on technology investments)Net earnings of $229 millionNew orders increased 1% year over year to 18,515 homesBacklog of 15,588 homes with a dollar value of $6.0 billionDeliveries decreased 5% year over year to 16,863 homesTotal revenues of $6.6 billionHomebuilding operating earnings of $373 millionGross margin on home sales of 15.2%S,G&A expenses as a % of revenues from home sales of 9.8%Net margin on home sales of 5.3%Financial Services operating... More