Lennar

Q2 FY2026 EarningsFY26 Q2 results showed a mixed performance with a top-line miss and in-line EPS. Revenue of $7.94B missed the $8.07B consensus by 1.67%, driven by a 5% YoY decline in Average Sales Price (ASP) to $371k. Homebuilding gross margins of 15.6% were slightly below the 15.67% expected due to higher land costs. Despite a 12.60% miss in EBIT, GAAP EPS of $1.24 remained in-line with expectations, supported by aggressive share repurchases of $447M during the quarter.