Lennar Q3 Revenue Falls 8.7% to $8.05 Billion, Missing Estimates
Lennar missed Wall Street's revenue expectations in its third quarter, with sales falling 8.7% year on year to $8.05 billion against analyst estimates of $8.31 billion, a 3.2% miss. Adjusted earnings per share came in at $1.23, 4.5% below the consensus estimate of $1.29, while operating margin dropped to 5.7% from 7.9% a year earlier and backlog declined 4.5% year on year to $6.3 billion. Chief Executive Officer Stuart Miller said interest rates and consumer confidence constrained the improvement the company had anticipated going into the quarter, and Lennar responded by increasing sales incentives and adjusting prices, particularly in its largest markets of Texas and Florida, where resale listings have grown and intensified price competition. Chief Financial Officer Diane Bessette said the company's metrics remain dependent on market conditions, and management expects margins to stay under pressure as it works through higher-cost land acquired in a more favorable market, calling land the one input it cannot reengineer. Lennar offset some of the pressure with record-low construction cycle times of 116 days, unsold inventory reduced to 1.8 homes per community, and a 12% year-over-year cut in divisional headcount, while its asset-light model leaves 98% of land controlled and 2% owned. The stock traded at $79.54, up from $78.12 just before the earnings.
KB Home Set to Report Q3 Fiscal 2026 Results on Sept. 22
KB Home is scheduled to report its third-quarter fiscal 2026 results, for the period ended Aug. 31, on Sept. 22 after market close. The Zacks Consensus Estimate for adjusted earnings per share has remained unchanged at 88 cents over the past 30 days, a 45.3% decline from the year-ago quarter's $1.61 per share, while the consensus revenue estimate stands at $1.29 billion, down 20.2% year over year. KB Home expects housing revenues of $1.2-$1.35 billion, down from $1.61 billion a year ago, home deliveries of 2,600 to 2,800 units versus 3,393 units a year earlier, and adjusted housing gross margin of 16-16.6% versus 18.9%. The company guides selling, general and administrative expenses to 11.3-11.9% of housing revenues, compared with 10.7% a year ago. KB Home carries an Earnings ESP of -5.32% and a Zacks Rank #5 (Strong Sell), and the model does not predict an earnings beat this time around.
Barratt Redrow reported fiscal 2026 revenue of more than GBP6 billion, driven by higher home completions and a higher average selling price, with adjusted operating profit of GBP598.1 million slightly ahead of last year. Home completions rose 5% to 17,667, while adjusted profit before tax fell to GBP572.8 million on higher net interest costs and lower joint venture profits, and adjusted gross margin slipped to 15.3% with adjusted gross profit of GBP926.6 million. The company confirmed all GBP100 million of Redrow cost synergies in the second half, delivering a GBP73 million profit and loss benefit in FY26 and an expected annual contribution of approximately GBP95 million in FY27. Barratt Redrow ended the year with a net surplus position of GBP61.4 million, versus net indebtedness of GBP37 million a year earlier, and guided to FY27 completions of between 17,500 and 17,900, a year-end cash position of GBP400 million to GBP500 million, and a total capital return of GBP400 million including a GBP386 million share buyback plus an additional buyback of at least GBP100 million. Build cost inflation was 2% underlying for the year and is guided at 3% to 4% for the year ahead, while the land bank stands at 5.2 years of supply and the embedded gross margin fell 160 basis points to 17.3% from 18.9% at the end of December.
China Railway Assembly Under CSRC Investigation for Suspected Information Disclosure Violations
China Railway Assembly announced on September 18 that it had received a case filing notice from the China Securities Regulatory Commission that day. Because the company is suspected of violating laws and regulations on information disclosure, the CSRC has decided to open an investigation. After conducting an internal review, the company said the case may involve related business carried out before a change in its actual controller. After the change, the company stopped carrying out such business in accordance with relevant regulations, and it has not yet received the CSRC's final investigation conclusion. The company said all production and operating activities are proceeding normally, the above matter will not have a material impact on normal production and operations, and it will actively cooperate with the CSRC in all work during the investigation. China Railway Assembly is the only high-tech innovative prefabricated construction business platform under China Railway Group, with its actual controller being the State-owned Assets Supervision and Administration Commission of the State Council. In the first half of 2026, it achieved operating revenue of 882 million yuan, up 1.28 percent year on year, while net profit attributable to shareholders of the listed company was negative 49 million yuan, down 31.64 percent year on year. As of the close on September 18, the company's share price had fallen 31.72 percent cumulatively since the start of the year.
Huaci Shares Hit Limit Up Six Seconds After Open for Fourth Straight Board; Company Flags Tiny Zirconia Business
Huaci Shares hit the daily limit up just six seconds after the market opened on September 18, notching a fourth consecutive limit-up board. The company mainly designs, develops, produces and sells ceramic products. According to its 2026 semi-annual report, its technical ceramics business made major progress, with zirconia powder entering the supplier qualification stage for Chaozhou Three-Circle's MLCC powder. Recently the company clarified market rumors about MLCC powder, the zirconia business, a Wuxi semiconductor precision ceramics industry seminar, and the commissioning of its Vietnam plant, saying the powder sold to Chaozhou Three-Circle is still in a small-volume qualification stage, has not yet achieved large-scale batch supply, and has not yet formed stable sales revenue. The company also cautioned that zirconia product prices are affected by multiple factors including upstream raw materials, downstream demand and market competition, so whether the price rally can continue is uncertain. New production line plans face the risk that construction progress falls short of expectations, and downstream new energy and electronics industry fluctuations will also directly affect market demand for zirconia products. The company further reminded investors that powder product qualification cycles are long, and whether new customers will approve the products is highly uncertain. In the first half of 2026, the new ceramic materials business including zirconia generated revenue of only 6.64 million yuan, accounting for 1.15 percent of the company's total revenue, a very small business.
Panasonic HD: Smart Life the only segment in operating loss for fiscal year ending March 2026
Panasonic Holdings' consolidated results for the fiscal year ending March 2026 came in at revenue of 8.0487 trillion yen, operating profit of 236.4 billion yen, and net profit of 189.5 billion yen. The operating margin was just 2.9% and ROE 3.8%, far below the electrical equipment sector medians of 6.7% and 7.7%. Of the six reporting segments, the only one in operating loss was Smart Life, which includes home appliances, posting an operating loss of 37.3 billion yen and a 5.2% year-on-year decline in revenue, the only segment among the six to see revenue fall. The profit engine, by contrast, was Connect, which handles corporate systems, with operating profit up 30.6% year-on-year to 100 billion yen and an operating margin of 7.6%. Energy posted operating profit of 69.7 billion yen and an operating margin of 7.4%, but its operating profit fell 41.9%. The Other category, which is not included in the reporting segments, also generated operating profit of 50.8 billion yen.
Lennar Q3 Earnings Miss Estimates as Housing Demand Softens
Lennar Corporation reported weaker-than-expected third-quarter fiscal 2026 results, with adjusted earnings of $1.23 per share missing the Zacks Consensus Estimate of $1.29 by 4.7% and falling 38.5% from $2.00 a year ago. Total revenues of $8.05 billion missed the consensus estimate of $8.33 billion by 3.4% and declined 8.6% year over year, as lower deliveries and weaker pricing weighed amid affordability pressure. Within the homebuilding segment, revenues decreased 6% year over year to $7.76 billion, home deliveries declined 3.4% to 20,840 homes, and the average sales price of homes delivered fell 2.9% to $372,000, reflecting about 12% in incentives. New orders dropped 9.2% to 20,879 homes and gross margin on home sales contracted to 15.8% from 17.5%. For the fourth quarter of fiscal 2026, Lennar expects new orders of 19,500-20,500 homes and deliveries of 22,000-23,000 homes, and management reduced its full-year fiscal 2026 delivery target to about 80,000-81,000 homes from 82,000-83,000, citing continued interest-rate pressure and weaker market conditions.
Lennar Cuts Full-Year 2026 Delivery Target Again as Q3 Earnings Fall
Lennar cut its full-year 2026 home delivery target for the second time, blaming rising mortgage rates and deteriorating market conditions, as third-quarter profit and revenue fell from a year earlier. The Miami-based homebuilder now expects to deliver between 80,000 and 81,000 homes for the full year, down from its previous guidance of 82,000 to 83,000, and below the 82,300 deliveries analysts polled by FactSet had expected. Third-quarter net earnings attributable to Lennar fell to $284 million, or $1.19 per diluted share, from $591 million, or $2.29 per diluted share, a year earlier, while adjusted earnings of $1.23 per diluted share missed the $1.28 analysts expected. Total revenue for the quarter ended Aug. 31 fell to $8.05 billion from $8.81 billion a year prior, short of the $8.32 billion analysts had expected, as deliveries slipped 3% year over year to 20,840 homes and new orders fell 9% to 20,879 homes. Executive chairman, chief executive officer and president Stuart Miller said the 30-year mortgage rate stood at approximately 6.8% at quarter end and has risen since, adding that consumer confidence has declined as rates and affordability drive more consumers to slow their purchase decisions. For the fourth quarter, Lennar guided for between 22,000 and 23,000 deliveries at an average price of $370,000 to $380,000, with gross margin on home sales of 15.5% to 16%.
Generac Soars 33% on Amazon Data Center Generator Deal
Generac struck a deal with Amazon to supply backup power generators for its data centers, sending the generator maker's shares up 33% in premarket trading. Initial deliveries are expected to total $2.4 billion between 2027 and 2028, and Generac also granted Amazon the right to buy up to $340 million worth of its stock; Amazon shares rose 1.3%. Lennar fell 1.2% after reporting third-quarter earnings of $1.19 per share, short of the $1.28 expected by analysts polled by FactSet and nearly half of what it saw this time last year, with revenue of $8.05 billion versus the $8.23 billion consensus estimate. Fluence Energy tumbled 22% after cutting its full-year guidance to $2.4 billion in revenue for 2026 from a prior range of $2.9 billion to $3.1 billion, and now anticipates a $200 million loss before interest, taxes, depreciation and amortization versus its previous guidance range of a $30 million loss to $10 million EBITDA. Nike rose 1.5% after announcing the appointment of Alexandre Arnault, Deputy CEO of LVMH's Moët Hennessy, to its board, and Arm Holdings gained roughly 4% after CEO Rene Haas told CNBC's Jim Cramer he is increasingly confident the company can meet demand for its new data center chip.
Apollo to Sell 30% Miller Homes Stake to Daiwa House
Apollo-managed funds have agreed to sell an approximately 30% minority stake in UK housebuilder Miller Homes to Daiwa House, with Apollo Funds remaining the controlling shareholder. Miller Homes, founded in 1934, is the UK's largest private housebuilder, completing approximately 5,000 homes a year across England, Scotland and Wales, and targets delivering 7,000 new homes per year. Daiwa House, a Japanese construction and real estate group operating in 28 countries with roughly 55,000 employees, said the investment will support Miller Homes' continued profitable growth and its multi-tenure model. The transaction is subject to closing conditions including regulatory approvals and is expected to close later this year. Rothschild & Co advised Apollo Funds and Miller Homes, while A&O Shearman and Paul, Weiss, Rifkind, Wharton & Garrison LLP provided legal counsel to Apollo Funds.
AMATA draws Chinese firm Homa to invest 3.1 billion baht, setting up refrigerator production base to supply Europe
Amata Corporation Public Company Limited, or AMATA, disclosed that Homa, a major global refrigerator and freezer manufacturer from China, will establish a production base in Amata Industrial Estate in Chonburi with an investment budget of over 3.1 billion baht, a production capacity of approximately 1.5 million units per year, and is expected to generate export value of up to 12 billion baht per year. The production base will focus on manufacturing high-efficiency refrigerators, smart refrigerators, and high-standard freezers that comply with European Union energy regulations. Michael Yao, President of Homa Appliance (Thailand) Company Limited, said this investment will create approximately 1,400 jobs in the first phase and is expected to rise to 3,000 jobs within one to two years, with a goal of increasing the use of domestic components to 50 to 60 percent. Meanwhile, Vikrom Kromadit, Chief Executive Officer of AMATA, stated that Chinese investors remain continuously interested in investing in Thailand, increasingly viewing the country as a production base for exporting to global markets, shifting from a previous focus on production for the domestic market.
Oppein Home's first-half net profit halved and operating cash flow fell 94.45%, Chairman Yao Liangsong admits misjudgment at the start of the year
Oppein Home Chairman and President Yao Liangsong admitted in two investor exchanges within half a month that the company misjudged the market at the start of the year, and that the company is in its most severe deep adjustment period in more than 30 years since its founding. In the first half, Oppein Home achieved operating revenue of 5.95 billion yuan, down 27.79% year on year, and net profit attributable to the parent of 442 million yuan, down 56.62% year on year. Net cash flow from operating activities fell from 1.667 billion yuan in the same period last year to 92 million yuan, a drop of 94.45%. Wardrobes and supporting furniture products, which contribute nearly half of revenue as the core business, posted first-half operating revenue of 2.776 billion yuan, down 34.51% year on year, a larger decline than the company's overall revenue decline. As of the end of June, the total number of stores was 6,903, a net decrease of 442 from the end of 2025. Yao Liangsong admitted that reforms in the main business fell short of expectations and did not give a clear timetable for when profit would stop falling and stabilise, while finance chief Zhao Lili said there is a possibility that full-year results will decline year on year.
Supreme People's Court rejects Eastern Venture Capital's retrial application, closing the 752 million yuan contract dispute involving Konka Group A
On September 17, Konka Group A announced that the Supreme People's Court had rejected the retrial application filed by Shenzhen Eastern Venture Capital Co., Ltd. in its contract dispute lawsuit against the company. The amount involved in the case reached 752 million yuan. In the first half of 2026, Konka Group A achieved revenue of 3.852 billion yuan and a net loss attributable to the parent company of 173 million yuan.
Oppein Home's first-half net profit halved and cash flow plunged 94%, Chairman Yao Liangsong publicly admitted mistakes
Yao Liangsong, chairman and president of Oppein Home, a leading domestic custom home furnishing company, publicly admitted for the first time at an investor communication meeting that the company misjudged the market at the beginning of the year, saying that the reform of its main front did not meet expectations. The 2026 semi-annual report shows that Oppein achieved operating revenue of 5.95 billion yuan in the first half of the year, down 27.79% year-on-year; net profit attributable to shareholders of the listed company was 442 million yuan, down 56.62% year-on-year; net cash flow from operating activities was only 92.4974 million yuan, plunging 94.45% year-on-year, marking the company's worst interim performance since its listing. By business segment, revenue from wardrobes and supporting products was 2.776 billion yuan, down 34.51%; revenue from kitchen cabinets was 1.748 billion yuan, down 27.37%; revenue from bulk business was 655 million yuan, down 50.74% year-on-year. In the first half of the year, Oppein implemented total cash dividends of about 1.5 billion yuan, equivalent to 3.39 times the current period's net profit attributable to the parent company, while according to the 2024-2026 dividend plan, this year is the last year of the annual dividend scale of no less than 1.5 billion yuan. Oppein's predicament is also a systemic predicament for the entire custom home furnishing industry. Data from the National Bureau of Statistics shows that from January to June 2026, furniture manufacturing enterprises above designated size nationwide achieved operating revenue of 257.61 billion yuan, down 8.6% year-on-year, with total profit of 4.57 billion yuan, down 52.7% year-on-year, and the industry's average profit margin fell to about 1.8%.
ST Konka A Plans Voluntary Delisting as Shareholders Approve Termination Resolution
ST Konka A announced on September 17 that the company passed a resolution to terminate its listing at an extraordinary shareholders' meeting on September 14, 2026, and will submit an application for voluntary delisting to the Shenzhen Stock Exchange within fifteen trading days after the shareholders' meeting adopts the termination resolution. In the first half of 2026, ST Konka A achieved revenue of 3.852 billion yuan and a net loss attributable to the parent company of 173 million yuan.
Konka initiates voluntary delisting: liabilities exceed assets by over 6 billion yuan, ending a 34-year A-share journey
Konka Group Company Limited has formally entered the execution stage of a voluntary delisting. ST Konka A and ST Konka B issued a reminder announcement on September 17 regarding the distribution of cash option rights. Earlier, on September 14, the company's extraordinary shareholders' meeting had approved the proposal to voluntarily terminate its listing through a shareholders' resolution. This veteran home appliance maker, which topped China's colour TV market in the 1990s, is leaving the Shenzhen Stock Exchange on its own initiative after roughly 34 years of listing. The direct trigger is insolvency: in 2025, net profit attributable to the parent company recorded a loss of 12.582 billion yuan, net assets attributable to the parent company stood at a loss of 6.083 billion yuan at year-end, and the asset-liability ratio was about 126.22 percent. In the first half of 2026, revenue was 3.852 billion yuan, down 26.6 percent year on year, net profit attributable to the parent company recorded a loss of 173 million yuan, net assets attributable to the parent company further deteriorated to a loss of 6.227 billion yuan, and the asset-liability ratio rose to 133.01 percent. The company's shares have been suspended from trading since the market opened on September 4, 2026. It will submit an application for voluntary delisting to the Shenzhen Stock Exchange within fifteen trading days after the shareholders' meeting passes the resolution to terminate listing. A-share shareholders may apply to exercise cash option rights at 2.48 yuan per share, and B-share shareholders at 0.73 Hong Kong dollars per share. Konka's net profit attributable to the parent company after deducting non-recurring items has been negative for fifteen consecutive years from 2011 to 2025, and from 2022 to 2025 the four-year combined loss in net profit attributable to the parent company was about 20.289 billion yuan. In July 2025, Overseas Chinese Town transferred its equity interest at the controlling shareholder level of Konka to the China Resources system, and the actual controller changed to China Resources. After China Resources took over, it mainly maintained the company's operations through loans, guarantees, perpetual bonds and other means, and did not inject high-quality assets on a large scale.
Lennar Misses Q3 CY2026 Revenue Estimates as Sales Fall 8.7%
Lennar missed Wall Street's revenue expectations in Q3 CY2026, with sales falling 8.7% year on year to $8.05 billion against analyst estimates of $8.31 billion, a 3.2% miss. GAAP profit came in at $1.19 per share, 7.6% below the consensus estimate of $1.29 and down from $2.31 in the same quarter last year. Operating margin narrowed to 5.5% from 7.9% a year earlier, while backlog stood at $6.3 billion at quarter end, down 4.5% year on year. Executive Chairman, Chief Executive Officer and President Stuart Miller said the results reflect a challenging economic environment that has deteriorated since the last earnings call. The stock traded down 2.5% to $76.28 immediately following the results.
Lennar Corporation reported third quarter 2026 net earnings attributable to Lennar of $284 million, or $1.19 per diluted share, down from $591 million, or $2.29 per diluted share, a year earlier. Excluding mark-to-market losses of $53 million on technology investments and one-time items of $39 million, net, in the Financial Services segment, earnings were $294 million, or $1.23 per diluted share. New orders fell 9% to 20,879 homes and deliveries slipped 3% to 20,840 homes, while total revenues came in at $8.0 billion and homebuilding operating earnings were $502 million. Gross margin on home sales was 15.8%, with S,G&A at 9.2% of home sales revenue and a net margin of 6.6%, and the company repurchased 3 million shares for $256 million while redeeming $400 million of 5.25% senior notes due June 2026. For the fourth quarter, Lennar guided to new orders of approximately 19,500 to 20,500 homes, deliveries of approximately 22,000 to 23,000 homes, an average sales price of $370,000 to $380,000, gross margin of 15.5% to 16.0% and SG&A of 8.7% to 9.0%, and it moderated its target full-year 2026 deliveries to approximately 80,000 to 81,000 homes from the 82,000 to 83,000 homes discussed last quarter.
Newell Brands Raises 2026 Outlook After First Sales Growth in Four Years
Newell Brands reported its first year-over-year growth in both net sales and core sales in more than four years, sending its shares up 51.2% over the past six months. In the second quarter of 2026, net sales rose 3% year over year to approximately $2 billion and core sales grew 2.3%, while normalized EPS climbed to 42 cents from 24 cents a year ago, beating the Zacks Consensus Estimate of 19 cents. The company raised its 2026 outlook to net sales growth of 1-2%, core sales growth of 0-1%, normalized operating margin of 10-10.4% and normalized EPS of $0.73-$0.77, up from a previous EPS outlook of $0.56-$0.60, with operating cash flow expected around $400 million. Newell expects to launch more than 25 Tier 1 and Tier 2 innovations during 2026, and six of its top 10 brands delivered year-over-year point-of-sale growth in the quarter, though the company still faces approximately $200 million of inflationary pressure for 2026 and elevated debt levels. The second-quarter results included approximately $126 million of pretax tariff recoveries, equivalent to about 21 cents per share, making the sustainability of underlying earnings growth a key consideration.
Barratt Redrow FY 2026 Completions Rise 5% as Redrow Synergies Deliver £73 Million
Barratt Redrow reported a solid FY 2026 performance, completing 17,667 homes, up 5% year over year and toward the upper end of its prior guidance range, with revenue exceeding £6 billion. Adjusted profit before tax before purchase-price-accounting impacts fell to £572.8 million, as underlying selling-price deflation of just under 1%, targeted sales incentives and 2% build-cost inflation net of procurement synergies pushed adjusted gross margin down to 15.3% and operating margin down to 9.9% from 10.5% on an aggregated comparable basis. The company confirmed its Redrow integration is complete and its £100 million cost-synergy target validated, generating a £73 million profit-and-loss benefit in FY 2026, including £53 million of administrative expense savings, with most of the remaining synergies expected in FY 2027 to take the annual contribution to about £95 million. For FY 2027, Barratt Redrow maintained completion guidance of 17,500 to 17,900 homes and plans £400 million in total capital returns, including £386 million of share repurchases, while expecting £400 million to £500 million of net cash at year-end and forecasting approximately £300 million of building-safety spending. The company also said incoming Chief Executive Dean Banks and Chief Financial Officer Rebecca Napier had joined the business, while its outgoing chief executive will retire the following week.
AMATA draws Chinese firm Homa to invest 3.1 billion baht in Chonburi refrigerator production base
Amata Corporation Public Company Limited, or AMATA, disclosed that Homa, a major global refrigerator and freezer manufacturer from China, will invest more than 3.1 billion baht to establish a production base in Amata Industrial Estate in Chonburi Province, with production capacity of approximately 1.5 million units per year and expected export value of up to 12 billion baht per year. This production base will focus on manufacturing high-efficiency refrigerators, smart refrigerators, and high-standard freezers that comply with European Union energy requirements. In the first phase, it will create approximately 1,400 jobs and is expected to increase to 3,000 positions within one to two years, while aiming to raise the proportion of locally sourced components to 50 to 60 percent. Vikrom Kromadit, Chief Executive Officer of AMATA, said this investment will strengthen the electrical appliance and electronics industry cluster in the area and open opportunities for Thai operators to connect into the production chains of world-class manufacturers. Michael Yao, President of Homa Appliance (Thailand) Company Limited, said this investment decision marks an important step in Homa's global business development, as the company sees Thailand as having a strong foundation for serving customers across ASEAN and connecting with global markets.
AMATA draws Chinese firm Homa to invest 3.1 billion baht, setting up refrigerator production base to supply Europe
Homa Appliance (Thailand) Co., Ltd., or Homa, a major global manufacturer of refrigerators and freezers from China, has established a production base in Amata Industrial Estate in Chonburi with an investment of over 3.1 billion baht. Production capacity is approximately 1.5 million units per year, and the facility is expected to generate export value of up to 12 billion baht per year. The production base will focus on manufacturing high-efficiency refrigerators, smart refrigerators, and high-standard freezers that comply with European Union energy requirements. Employment will start at around 1,400 positions and is expected to rise to 3,000 within one to two years, with a target of increasing the use of locally sourced components to 50 to 60 percent. Vikrom Kromadit, Chief Executive Officer of Amata Corporation Public Company Limited, or AMATA, said Chinese investors remain continuously interested in investing in Thailand, viewing the country as one of the region's key production bases. Meanwhile, Michael Yao, President of Homa Appliance (Thailand) Co., Ltd., stated that this investment is an important step in Homa's global business development, as Thailand has a strong foundation for serving customers across ASEAN and connecting to global markets.
Whirlpool Posts Q2 Loss, Holds Full-Year Outlook on Pricing and Debt Moves
Whirlpool Corporation reported second-quarter net sales of $3.52 billion, down 6.8% year over year, and swung to an ongoing loss of $0.21 per diluted share from a profit of $1.34 a year earlier, while holding its full-year outlook steady. The appliance maker said MDA North America grew net sales 8% quarter over quarter and expanded EBIT margin by 240 basis points on previously announced pricing actions and new product launches, and it announced fresh price increases in Latin America to address margin pressure in Brazil. Whirlpool completed the transition to a $2 billion asset-based lending facility and issued $2 billion in secured bonds, clearing debt maturities until 2028, and an agreement with Arcelik to sell its remaining 25% stake in Beko produced a $139 million gain and $84 million in net cash proceeds during the quarter. Year over year, ongoing EBIT fell 69.1% to $62 million and ongoing EBIT margin dropped to 1.8% from 5.3%, with MDA North America's EBIT margin down 3.2 points to 2.7% on tariff costs, raw material inflation and fuel costs, MDA Latin America's EBIT margin down 3.0 points, and SDA Global's EBIT margin down 5.4 points on planned marketing investment. The company still guides to $300 million or more in full-year free cash flow and more than $150 million in structural cost cuts, with updated full-year EPS guidance of $2.25 to $2.75 GAAP and $2.50 to $3.00 ongoing reflecting a higher interest expense outlook.
ST Konka A Plans Voluntary Delisting; A-Share Cash Option Exercise Price Set at 2.48 Yuan Per Share
The voluntary delisting of ST Konka A, which has been suspended for nearly two weeks, has made new progress. On the evening of September 16, the company disclosed a notice regarding the distribution of cash options for the voluntary termination of its stock listing. It plans to voluntarily withdraw the listing and trading of its A-shares and B-shares on the Shenzhen Stock Exchange through a shareholders' meeting resolution. The matter has been reviewed and approved at the company's second extraordinary shareholders' meeting in 2026, and will now enter the stage of cash option distribution and exercise. The announcement shows that Panshi Runchuang Shenzhen Information Management Company Limited will provide cash options to all A-share shareholders other than the company itself, and Hemao Company Limited will provide cash options to all B-share shareholders other than the company itself. As of September 3, 2026, the company's A-share closing price was 2.46 yuan per share and its B-share closing price was 0.71 Hong Kong dollars per share. Shareholders who validly declare the exercise of cash options will receive cash consideration at an exercise price of 2.48 yuan per share for A-shares and 0.73 Hong Kong dollars per share for B-shares. The record dates are September 22 and September 28 respectively. ST Konka A stated that although this voluntary termination of listing provides cash options to shareholders entitled to exercise them, it does not mean they are forced to accept the exercise price and tender their shares. Relevant shareholders may choose to transfer all or part of their shares to the cash option provider at the announced price, or continue to hold the company's shares.
M/I Homes Slips 7% in a Month Ahead of October 21 Earnings
M/I Homes ended its latest session at $142.33, up 1.22% while the S&P 500 fell 0.45%, but the homebuilder's stock is down 7% over the past month, a steeper drop than the Construction sector's 10.71% decline and worse than the S&P 500's 1.99% loss. The company is slated to report earnings on October 21, 2026, with analysts anticipating EPS of $3.05, a 26.33% fall from the same quarter a year earlier, and revenue of $1.09 billion, down 3.31%. For the full year, the Zacks Consensus Estimates project earnings of $12 per share and revenue of $4.18 billion, representing declines of 18.59% and 5.37% respectively from the prior year. Over the past month the Zacks Consensus EPS estimate has fallen 3.96%, and M/I Homes currently carries a Zacks Rank of #4 (Sell). The stock trades at a Forward P/E of 11.72 versus an industry average of 13.14, and the Building Products - Home Builders industry holds a Zacks Industry Rank of 181, placing it in the bottom 27% of more than 250 industries.
Canaccord Cuts Lovesac Price Target to $20 After Q2 Results
Canaccord lowered its price target on The Lovesac Company to $20 from $22 on September 10 while keeping its Buy rating, after the company reported second-quarter fiscal 2027 results that landed in line with expectations. Lovesac posted net income of $7.4 million for the quarter, a swing from a net loss of $6.7 million a year earlier, and operating income of $10.9 million versus an operating loss of $8.8 million, though the improvement was largely driven by $21 million in IEEPA tariff refunds. Net sales rose 0.4% year over year on 14 net new showrooms, partly offset by a 1.9% decline in omni-channel comparable net sales and the closure of the company's Best Buy shop-in-shop locations, while gross margin expanded to 68.4% of net sales from 56.4%, a 1,200 basis point gain that included 1,240 basis points from tariff recoveries. The company lowered its full-year sales and adjusted EBITDA outlook, guiding to net sales of $690 million to $710 million and net income of $14.5 million to $18.5 million, citing product launch timing and the promotional environment, with key innovations now expected to contribute more meaningfully in the fourth quarter rather than the third. Analysts remain optimistic, with a consensus Buy rating and a median 12-month price target of $20 as of September 11, implying roughly 43.78% upside, even as short interest stood at 21.93% of the float as of August 31.
Lennar Set to Report Q3 Fiscal 2026 Results on Sept. 16
Lennar Corporation is set to report its third-quarter fiscal 2026 results on Sept. 16, after the closing bell, with the Zacks Consensus Estimate for earnings per share having moved down to $1.29 from $1.31 over the past seven days, a decline of 35.5% from the $2.00 per share reported a year earlier. The consensus mark for total revenues stands at $8.33 billion, down 5.4% from the year-ago figure of $8.81 billion. For the quarter, Lennar expects home deliveries between 20,500 and 21,500 units at an average selling price of $375,000 to $380,000, compared with 21,584 homes sold a year ago at an ASP of $383,000, and it expects home sales gross margin of approximately 16%, down from 17.5%, with EPS in the range of $1.20 to $1.40. New home orders are expected between 21,000 and 22,000 units, down from 23,004 units a year ago, while SG&A expenses as a percentage of home sales are projected at 8.8% to 9%, up from 8.2%. The company carries a Zacks Rank #4 (Sell) and an Earnings ESP of -0.78%, so the model does not conclusively predict an earnings beat.
MJ Gleeson Revenue Rises 12.1% to £410 Million as Profit Falls
MJ Gleeson reported a 12.1% rise in revenue to £410 million for the year ended June 2026, but adjusted profit before tax fell to £10.8 million as margin pressure in housebuilding and delayed land transactions weighed on earnings. Home completions rose nearly 10% to 1,968, including 320 homes delivered to partnership buyers, about 16% of total volume, and 301 homes sold to multi-unit buyers, roughly 15% of annual volume. Gleeson Homes' operating margin narrowed to 5.0% from 6.4%, with build-cost inflation of about 4.5% outpacing reservation selling-price growth of 2.2%, while the group booked £13.6 million in exceptional charges covering restructuring, site impairments and legacy adoption provisions. Gleeson Land completed five site sales but reported a £700,000 loss after three expected sales were delayed into the current year, including one particularly large transaction. The board proposed a final dividend of 1 pence per share, taking the full-year dividend to 5 pence, and said it expects fiscal 2027 results in line with market expectations, though land-sale timing remains uncertain.
BOXABL Appoints Larry King as CFO and Heather Clayton as CAO
BOXABL said on Tuesday it appointed Larry King as Chief Financial Officer and Heather Clayton as Chief Accounting Officer. King brings more than 35 years of finance, accounting, and operations experience, including SEC reporting, M&A, and operational turnarounds, and previously served as CFO of Chukchansi Gold Resort & Casino and Riviera Holdings. Clayton brings nearly 10 years of finance and accounting experience, including senior roles as CFO of ASTOUND Group and the Vegas Golden Knights. Shares of BOXABL rose 1.02 percent following the announcement.
Sharp begins taking AI server orders in Japan, with Foxconn manufacturing
Sharp Corp, the Japanese electronics company, said on September 15 that it has begun taking orders for artificial intelligence servers in Japan, with the servers manufactured by its Taiwan-based parent company Foxconn. Sharp plans to start selling the servers in fiscal 2027, which begins in April 2027, targeting local government bodies, research institutions and data center operators. The servers use the latest AI platform from Nvidia, the major US semiconductor company, while Foxconn handles procurement and manufacturing. Sharp aims for AI server business sales of about 250 billion yen, or 1.6 billion dollars, in fiscal 2030, driven by growing demand for AI use. It is also considering manufacturing servers in Japan and aims to expand the business into global markets in the future. Tetsuji Kawamura, chief executive officer of Sharp, said that as AI becomes more a part of social infrastructure, developing reliable computing infrastructure that many companies can use is important. Sharp forecasts the domestic server market will grow from about 900 billion yen in fiscal 2025 to roughly 4 trillion yen in fiscal 2030 and about 7 trillion yen in fiscal 2035. Sharp said it will consider joint manufacturing with Foxconn in the future, and if such joint production goes ahead, its Kameyama plant in Mie Prefecture in central Japan is one option that could serve as a production base.
Sharp Enters AI Server Business, Aims for 250 Billion Yen in Sales by Fiscal 2030
Sharp announced on the 15th that it has fully entered the artificial intelligence server business and begun taking orders. It aims for 250 billion yen in sales by fiscal 2030, targeting domestic companies and data centers. Together with its parent company, Taiwan's Hon Hai Precision Industry, it plans to establish a production system within Japan. The AI servers it will sell adopt the latest AI platform from U.S. semiconductor giant Nvidia, with Hon Hai handling manufacturing, while Sharp will leverage its domestic network to handle sales as well as post-installation operation and maintenance. According to Sharp, the AI server market is expected to expand from 900 billion yen in fiscal 2025 to 7 trillion yen in fiscal 2035, and the company is also considering collaboration with its existing home appliance business and overseas expansion.
Sharp Enters AI Server Business, Aiming for 250 Billion Yen in Sales by Fiscal 2030
Sharp announced on the 15th that it is making a full-scale entry into the artificial intelligence server business and has begun taking orders. It aims for 250 billion yen in sales by fiscal 2030, targeting domestic companies and data centers. Together with its parent company, Taiwan's Hon Hai Precision Industry, it plans to establish a production system within Japan. The AI servers it will sell adopt the latest AI platform from U.S. semiconductor giant Nvidia, with Hon Hai handling manufacturing, while Sharp will leverage its domestic network to handle sales as well as operation and maintenance after installation. According to Sharp, the AI server market is expected to expand from 900 billion yen in fiscal 2025 to 7 trillion yen in fiscal 2035, and the company is also looking at collaboration with its existing home appliance business and overseas expansion.
Sharp Enters AI Server Business, Targeting 250 Billion Yen in Sales by Fiscal 2030
Sharp announced on the 15th that it will enter the AI server business to capture the growing demand for AI infrastructure driven by the spread of generative AI. The company will target domestic companies, local governments, and research institutions, with sales expected to begin in fiscal 2027 and a goal of about 250 billion yen in revenue in fiscal 2030. It began taking orders for business-use AI servers the same day, and plans to accept orders for AI servers for large-scale training and inference in the future. President Tetsuji Kawamura said at a press conference that this challenge in the AI server business may become not just a single new business but an important initiative for Sharp's transformation. The servers will use models from semiconductor giant Nvidia, with manufacturing handled by parent company Hon Hai Precision Industry of Taiwan, and Sharp is working with domestic companies to build up sales and post-installation operation and maintenance systems. Kawamura said the Kameyama plant is among the candidates as a manufacturing site, explaining that the company is now examining various possibilities and options with it as a candidate.
Lennar Expected to Post 5.7% Revenue Decline in Q3 Earnings
Lennar is set to report third-quarter results on Wednesday after market hours, with the market expecting revenue to decline 5.7% year on year. The homebuilder missed analysts' revenue expectations last quarter, posting revenues of $7.94 billion, down 5.2% year on year, though it beat analysts' EPS estimates. Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings, and Lennar has missed Wall Street's revenue estimates multiple times over the last two years. As the first among its peers to report this season, Lennar offers no read-across from rivals, but the whole sector has been hit hard over the last month, with stocks in Lennar's peer group down 9.2% on average while Lennar is down 7.6% over the same period.
Lennar Q3 Earnings Preview: EPS Seen at $1.29, Revenue at $8.37B
Lennar is scheduled to announce its Q3 earnings results on Tuesday, September 15th, after market close. The consensus EPS estimate is $1.29, down 35.5% year over year, and the consensus revenue estimate is $8.37B, down 5.0% year over year. Over the last two years, Lennar has beaten EPS estimates 63% of the time and revenue estimates 63% of the time. Over the last three months, EPS estimates have seen 0 upward revisions and 10 downward, while revenue estimates have seen 0 upward revisions and 6 downward.
Berkshire Hathaway CEO Greg Abel Buys Taylor Morrison, Repurchases Shares
Greg Abel, who succeeded Warren Buffett as Berkshire Hathaway's CEO at the beginning of 2026, has made a major acquisition by buying homebuilder Taylor Morrison and has been buying back many Berkshire Hathaway shares, boosting the value of the remaining shares. Abel has much of the Berkshire Hathaway stock portfolio invested in top holdings Apple, American Express, Coca-Cola, Alphabet, and Bank of America. Buffett, who built Berkshire Hathaway into a company now worth more than $1 trillion and increased its share price by more than 6,000,000% over 60 years, stepped down from the CEO post at the beginning of 2026 and just turned 96. The company operates as a true conglomerate, owning multiple insurance and energy operations along with GEICO, Benjamin Moore, McLane, NetJets, Dairy Queen International, See's Candies, Fruit of the Loom, Pilot Travel Centers, Berkshire Hathaway Home Services, and the entire BNSF railroad.
LGI Homes raised its full-year guidance for the second straight quarter after reporting second-quarter 2026 results on August 4. The homebuilder delivered 1,440 homes in the quarter, up 8.8% from a year earlier, on total revenue of $516 million, with homebuilding gross margin of 19.8% and adjusted gross margin of 23.2%, both ahead of the midpoint of its prior guidance range. Management now expects full-year homebuilding gross margin of 19.0% to 21.0%, adjusted gross margin of 22.5% to 24.5%, and an average sales price per home closed of $360,000 to $370,000, while keeping its full-year closings guidance at 4,600 to 5,400 homes. The company cut debt by $128.6 million in the quarter, ending June with a debt-to-capital ratio of 42.6%, a 220 basis point improvement from a year earlier, and liquidity of $468 million, and posted second-quarter net income of $27 million, or $1.16 per diluted share. Still, first-half homebuilding revenue fell 1.6% year over year to $821.2 million and standard home closings dropped 3.1% to 2,246, with total closings for the half up 1.6% to 2,356 only because that figure includes 110 currently and previously leased homes, while short interest sits at 21.29% of float.
Lovesac Posts Record Q2 Revenue of $161.2 Million as Premium Buyers Offset Entry-Level Pullback
Lovesac reported record second quarter revenue of $161.2 million on September 10, its highest Q2 total ever, though the 0.4% sales increase came almost entirely from showrooms rather than higher-margin online orders. A $20 million tariff refund lifted gross margin by 1,200 basis points to 68.4%, masking an underlying business that actually lost money once that windfall is stripped out. Configurations priced above $6,000 grew by double digits, and showroom net sales climbed 4.6% to $114.1 million, helped by 14 net new locations and a double-digit jump in conversion rates, while the Snugg platform pushed other products revenue up 198.2%. Below the $6,000 line, omni-channel comparable sales fell 1.9%, internet sales dropped 5.3%, Sacs sales fell 8.6%, and the exit of the Best Buy shop-in-shop partnership cut other net sales by 23.2%; adjusted EBITDA was a loss of $1.3 million versus income of $0.8 million a year earlier. Management guided third quarter sales to $140 million to $150 million with an expected net loss of $9 million to $12 million and an adjusted EBITDA loss of $7 million to $10 million, as four major launches and a national delivery rollout are set for the second half.
Lennar Set to Report Q3 Earnings With $1.30 Per Share Expected
Lennar Corporation will release its third-quarter earnings report after the closing bell on Wednesday, Sept. 16. Analysts expect the company to report quarterly earnings of $1.30 per share, down from $2.00 per share in the year-ago period, on consensus revenue of $8.37 billion, compared with $8.81 billion last year. Ahead of the report, StoneX analyst Michael Rindos initiated coverage of Lennar on Sept. 4 with a Hold rating. Lennar currently carries an annual dividend yield of 2.57%, equal to a quarterly dividend of 50 cents per share, or $2.00 a year.
Real Estate Giants Ramp Up Data Center Development as AI Demand Pushes Market Past 5 Trillion Yen by 2028
Major real estate developers, including diversified developers, are stepping up data center development. According to the Ministry of Internal Affairs and Communications, the domestic market for related services is expected to exceed 5 trillion yen by 2028, and further growth is anticipated on the back of the artificial intelligence boom. Daiwa House Industry plans to build a total of 14 data centers in Inzai, Chiba Prefecture, breaking ground on the fifth in late September. In Okuma, Fukushima Prefecture, the first modular small-scale data center was completed in April, and the company has also decided to acquire Sumitomo Densetsu, which specializes in equipment installation. Mitsui Fudosan plans cumulative investment of more than 600 billion yen in data center-related projects through fiscal 2035, with development underway in four areas: Sagamihara, Hino in Tokyo, the Hokusetsu region of Osaka Prefecture, and the Tama area of Tokyo. In the Hino project, which uses the former site of a Hino Motors factory, the building height has been reduced in stages from an initial 80 meters to 63.5 meters in light of consultations with the local municipality, and site preparation work will begin in October. New entrants are also appearing one after another. Mitsubishi Estate set up a data center business office in April and has invested in multiple projects. A data center in Ishikari, Hokkaido, in which Tokyu Land Corporation took part as its first foray into development, began operating in August using 100 percent renewable energy, and the company is also advancing a new plan in Osaka.