LEN · News · 20260917N

Guidance / Outlook

LENNAR CORP /NEW/ · 2026-09-17 · Importance 57 · Surprise 60 · In source text

Lennar reduced its full-year 2026 delivery outlook for the second time, to 80,000–81,000 homes from 82,000–83,000, citing rising mortgage rates and deteriorating market conditions. For fiscal Q4, management expected 22,000–23,000 deliveries, 19,500–20,500 new orders, a gross margin of 15.5%–16%, and EPS of approximately $1.30–$1.65. The revised annual delivery range is a reduction of 2,000 homes at each end from the prior outlook.

Key facts

• Lennar cut its full-year 2026 home delivery target for the second time and now expects to deliver 80,000–81,000 homes, down from prior guidance of 82,000–83,000. source
• Lennar’s Q4 2026 guidance was 22,000–23,000 deliveries, 19,500–20,500 new orders, gross margin of 15.5%–16%, and EPS of approximately $1.30–$1.65. source

Impact estimates