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 CorporationLennar missed Q3 revenue estimates with sales down 8.7% to $8.05B, EPS of $1.19 below consensus, and operating margin narrowing to 5.5%.
