From Yahoo Finance · · 1m
Lennar cuts 2026 home delivery target
Lennar lowers full-year 2026 home delivery target to 80k-81k after Q3 earnings drop.
In brief
Lennar lowers full-year 2026 home delivery target to 80k-81k after Q3 earnings drop. Lennar reduced its 2026 home delivery target to 80,000-81,000 homes after Q3 earnings fell to $284 million. Originally reported by Yahoo Finance.
Lennar cuts 2026 delivery target
Lennar reduced its full-year 2026 home delivery target to 80,000-81,000 homes from 82,000-83,000.
Q3 earnings fall
Third-quarter net earnings dropped to $284 million, or $1.19 per diluted share, from $591 million a year earlier.
Mortgage rates rise
Mortgage rates increased to approximately 6.8% for the 30-year loan at quarter end, with consumer confidence declining.
Revenue drops
Total revenue fell to $8.05 billion from $8.81 billion a year earlier, missing analyst expectations of $8.32 billion.
Deliveries decline
Deliveries slipped 3% year over year to 20,840 homes with average selling price at $372,000.
Q4 guidance
Lennar guides for 22,000-23,000 deliveries at $370,000-$380,000 average price in Q4.
What matters most
Lennar reduced its 2026 home delivery target to 80,000-81,000 homes after Q3 earnings fell to $284 million.
