Lennar-B Shares

Q2 FY2026 EarningsFY26 Q2 results missed consensus across most financial metrics as stubbornly high mortgage rates and inflation pressured affordability. Revenue of $7,939.9M fell 1.67% short of expectations, while gross margin of 15.60% was slightly below the 15.67% mean estimate. Despite operational discipline, net income (GAAP) of $304.8M and EBIT of $413.2M significantly missed consensus by 0.20% and 12.60% respectively, as sales incentives and higher land costs weighed on performance. Q3 FY26 guidance remains cautious, with deliveries projected at 20,500 - 21,500 homes and a flat gross margin expectation of ~16%.