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Lennar Reports Mixed Q1 Results, Guidance Falls Short of Expectations

Mar 13, 2026, 12:31 PM EDT1 sourcesAI-analyzed

Why it may matterVerify against the original reporting

The missed earnings and declining revenue indicate potential challenges in demand and profitability, typically leading to downward price pressure.

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What happened, with direct paths to the underlying reporting

Lennar's first-quarter results showed weaker-than-expected earnings and revenue, raising concerns about mortgage rates' impact on homebuyer sentiment. The company's lower home deliveries and projected orders below consensus may hinder growth in the near term.

Lennar's Q1 fiscal 2026 earnings per share of 93 cents missed consensus estimates.
Total revenue was $6.6 billion, below expected $6.8 billion.
Home deliveries fell 5% year-over-year, 600 homes short of guidance.
Gross margin decreased to 15.2%, impacting profitability amid rising mortgage rates.
Future orders projected at 21,000 to 22,000 homes, below consensus of 23,000.

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