LENNAR (LEN) Profit Halves as Orders Slip and Full-Year Target Is Cut
Third-quarter earnings fell to $284 million, or $1.19 a share, and Lennar trimmed its 2026 delivery target to 80,000-81,000 homes.
Lennar (LEN) reported third-quarter net earnings of $284 million, or $1.19 per diluted share, down from $591 million, or $2.29 a share, a year earlier, as the homebuilder cut prices to keep volume moving in a weakening market. New orders fell 9% to 20,879 homes and deliveries slipped 3% to 20,840, while total revenues came in at $8.0 billion. The company also lowered its full-year 2026 delivery target to roughly 80,000 to 81,000 homes, from the 82,000 to 83,000 it discussed last quarter.
