Lennar-B Shares

Q3 FY2026 EarningsQ3 FY26 results missed consensus across all primary financial metrics as deteriorating affordability and rising mortgage rates (6.8% at quarter-end) pressured performance. Revenue of $8.0B missed the $8.37B consensus by 4.0%, while gross margin of 15.8% came in slightly below the expected 15.9%. Management significantly lowered full-year FY26 delivery guidance to 80,000–81,000 homes (previously 82,000–83,000), signaling continued market headwinds and a prioritize-volume-over-price strategy in a high-rate environment.