Lennar Reports Second Quarter 2026 Results
PR Newswire
MIAMI, June 11, 2026
Second Quarter 2026 Highlights Net earnings per diluted share of $1.24 ($1.31 excluding mark-to-market losses on technology investments)Net earnings of $305 millionNew orders decreased 4% year over year to 21,749 homesBacklog of 16,818 homes with a dollar value of $6.6 billionDeliveries increased 2% year over year to 20,519 homesTotal revenues of $7.9 billionHomebuilding operating earnings of $489 millionGross margin on home sales of 15.6%S,G&A expenses as a % of revenues from home sales of 9.2%Net margin on home sales of 6.4%Financial Services operating earnings of $100 millionMultifamily operating earnings of $18 millionLennar Other operating loss of $39 millionHomebuilding cash and cash equivalents of $1.8 billionNo outstanding borrowings under the Company's $3.1 billion revolving credit facilityHomebuilding debt to total capital of 15.8%Repurchased 5 million shares of Lennar common stock for $447 millionRedeemed $400 million of 5.25% senior notes due in June 2026, subsequent to May 31, 2026MIAMI, June 11, 2026 /PRNewswire/ -- Lennar Corporation (NYSE: LEN and LEN.B), one of the nation's leading homebuilders, today reported results for its second quarter ended May 31, 2026. Second quarter net earnings attributable to Lennar in 2026 were $305 million, or $1.24 per diluted share, compared to second quarter net earnings attributable to Lennar in 2025 of $477 million, or $1.81 per diluted share. Excluding pretax mark-to-market losses of $23 million and $29 million on technology investments, respectively, second quarter net earnings attributable to Lennar in 2026 were $322 million, or $1.31 per diluted share compared to $499 million or $1.90 per diluted share in the second quarter of 2025.
