Lennar Q3 FY26 net earnings drop 52% to $284 million; revenue falls 9% to $8 billion - LEN News | RalliesLennar Q3 FY26 net earnings drop 52% to $284 million; revenue falls 9% to $8 billion
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LEN• Quarterly earnings and revenue decline
- Lennar third-quarter net earnings attributable to shareholders fell to $284 million, while diluted EPS dropped to $1.19.
- Total revenue declined 8.67% to $8.05 billion, while homebuilding revenue slipped 6% to $7.76 billion.
- Home sales gross margin narrowed 1.7 percentage points to 15.8%, while SG&A as a share of home sales widened 1 percentage point to 9.2%.
- New orders decreased 9% to 20,879 homes, while backlog ended at 16,857 homes valued at $6.35 billion.
- Guidance calls for fourth-quarter deliveries of 22,000-23,000 homes, with home sales gross margin of 15.5%-16%.
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