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On October 26, 2026, Lennar Corporation increased revolving lender commitments to $3.795 billion, extended $3.545 billion of Class A commitments to November 2031, and added $40 million of delayed draw term loans, increasing that facility to $1.75 billion.
Lennar Corporation settled an offering on October 15, 2026 of $300 million 5.700% Senior Notes due 2029 and $300 million 5.950% Senior Notes due 2032, guaranteed by certain wholly owned subsidiaries, for general corporate purposes.
Lennar delivered 20,840 homes and generated 20,879 new orders in the third quarter 2026, with gross margin of 15.8%. Fourth-quarter guidance calls for 19,500 to 20,500 orders and 22,000 to 23,000 deliveries at a $370,000 to $380,000 average sales price.
Useful current figures from the complete screener profile.
* Q4 derived as the full year minus Q1 to Q3.
TL;DR. Lennar's Q3 2026 results fell short as net earnings fell to $284M (EPS $1.19) from $591M, with new orders just below guidance and SG&A above its guided range; the company lowered full-year 2026 delivery guidance to 80,000–81,000 homes as the market deteriorated with mortgage rates climbing to ~7%, inflation elevated, and resale competition intensifying in Texas and Florida.
AI-generated from the earnings call and 8-K · may contain errors · not investment advice
Blended from price, momentum, positioning, fundamentals & volatility · daily-close · not investment advice. Market backdrop is context, not part of the score.
Still-open targets the latest release did not restate under the same label.
Guidance from company 8-Ks · delivered figures from as-reported statements · no analyst estimates involved.
Illustrative technical + ownership context — a signal mix, not investment advice.
| Metric | Latest | Period | YoY |
|---|---|---|---|
| Average sales incentives per home delivered | $51,000 | Three Months Ended August 31, 2026 filing | — |
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| Average sales price of homes delivered | $372,000 | the three months ended August 31, 2026 filing | — |
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| Cancellation rate | 15% | Three Months Ended August 31, 2026 filing | — |
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| Dollar value of mortgages originated | $4.7B | Three Months Ended August 31, 2026 filing | — |
| Mortgage capture rate of Lennar homebuyers | 83% | Three Months Ended August 31, 2026 filing | — |
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| Net earnings attributable to Lennar per diluted share, excluding one-time items non-GAAP | $1.23 | the three months ended August 31, 2026 filing | — |
| New orders average sales price | $359,000 | Three Months Ended August 31, 2026 filing | — |
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| New orders dollar value | $7.5B | Three Months Ended August 31, 2026 filing | — |
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| Number of mortgages originated | 13,400 | Three Months Ended August 31, 2026 filing | — |
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| Number of title and closing service transactions | 22,400 | Three Months Ended August 31, 2026 filing | — |
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| Active communities | 1,713 | Q3 2026 | — |
| Average sales price (backlog) | $376,000 | At August 31, 2026 | — |
| Backlog | 16,857 | Q3 2026 | — |
| Backlog dollar value | 6.3B | Q3 2026 | — |
| Completed, unsold inventory | 1.8 | Q3 2026 | — |
| Deliveries | 20,840 | Q3 2026 | — |
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| EBIT non-GAAP | $1.25B | Nine Months Ended August 31, 2026 | — |
| Gross margin on home sales | 15.8% | Q3 2026 | — |
| Homebuilding debt to total capital | 16.6% | Q3 2026 | — |
| Homesites owned and controlled | 488,000 | Q3 2026 | — |
| Inventory turn | 2.4 | Q3 2026 | — |
| Net homebuilding debt to total capital non-GAAP | 12.7% | At August 31, 2026 | — |
| Net margin on home sales | 6.6% | Q3 2026 | — |
| New Orders | 61,143 | Nine Months Ended August 31, 2026 | — |
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| S,G&A expenses as a % of revenues from home sales | 9.2% | Q3 2026 | — |
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| Homebuilding interest income | $9.4M | the second quarter of 2026 filing | — |
| Sales incentives as a % of revenue | 12.9% | the three months ended May 31, 2026 filing | — |
Figures exactly as the company stated them in writing · click a metric with a to chart its history · period links open the stating document · "filing" marks figures stated in the 10-K/10-Q · YoY needs an exactly comparable prior-year period
| Company | Mkt cap | YTD | Rev growth Y/Y | P/E | Short % shares |
|---|---|---|---|---|---|
|
LEN
this stock
Lennar Corp
|
$21.79B | -10.9% | -3.5% | 16.8 | 9.7% |
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$24.75B | +15.3% | +11.8% | 14.4 | 4.4% |
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Peers by industry group · P/E from as-reported trailing EPS · short % is of shares outstanding
On October 26, 2026, Lennar Corporation increased revolving lender commitments to $3.795 billion, extended $3.545 billion of Class A commitments to November 2031, and added $40 million of delayed draw term loans, increasing that facility to $1.75 billion.
View| 5D | 20D | 120D | MTD | YTD | |
|---|---|---|---|---|---|
| LEN | +7.2% | +18.0% | +11.3% | +5.4% | -10.9% |
| SPY | -4.7% | -5.3% | -0.8% | -3.0% | +7.5% |
| vs SPY | +11.9% | +23.3% | +12.1% | +8.4% | -18.4% |
Dividends per share over the trailing 365 days by ex-date · buyback figures as last reported in SEC filings ("spent" derived as authorized − remaining; when several programs run concurrently, authorized is their combined total per the newest filing) · components shown separately — trailing-year buyback spend isn't tracked, so no combined shareholder yield is derived.
