Lennar (LEN) official guidance
Lennar (LEN) official earnings guidance and management outlook. Each figure management stated is shown with its revisions and the source quote.
See the full Filings Intelligence suiteLENLENNAR CORP /NEW/Q4 FY2026 · ends 2026-11-30
15 metrics10 new5 maintainedearnings call · 2026-09-18 04:01:14 UTC
2026-09-18 04:01:14 UTC$370K – $380Kmaintained
Our Q4 average sales price on those deliveries should be between $370,000 and $380,000.
LEN · transcript · Q3 FY2026
2026-09-18 04:00:00 UTCOpen source
2026-09-16 20:43:41 UTC$370K – $380Knew
We expect our average sales price to be in the range of approximately $370,000 to $380,000 and our SG&A to improve toward 8.7% to 9.0%.
LEN · EX-99.1 · Q3 FY2026
2026-09-16 20:42:59 UTCOpen source
2026-09-18 04:01:14 UTC1.7%new
We expect our core G&A to be approximately 1.7% of total revenues, our tax rate to be approximately 25%, and the weighted average share count should be approximately 235 million.
LEN · transcript · Q3 FY2026
2026-09-18 04:00:00 UTCOpen source
2026-09-18 04:01:14 UTC22K – 23Kmaintained
We anticipate our Q4 deliveries to be in the range of 22,000-23,000 as we maintain even flow production and turn inventory into cash.
LEN · transcript · Q3 FY2026
2026-09-18 04:00:00 UTCOpen source
2026-09-16 20:43:41 UTC22K – 23Knew
Looking ahead to the fourth quarter of 2026, we expect to generate new orders of approximately 19,500 to 20,500 homes, and to deliver approximately 22,000 to 23,000 homes with gross margin of approximately 15.5% to 16.0%.
LEN · EX-99.1 · Q3 FY2026
2026-09-16 20:42:59 UTCOpen source
2026-09-18 04:01:14 UTC235Mnew-6.9% vs Q4 FY2025
We expect our core G&A to be approximately 1.7% of total revenues, our tax rate to be approximately 25%, and the weighted average share count should be approximately 235 million.
LEN · transcript · Q3 FY2026
2026-09-18 04:00:00 UTCOpen source
2026-09-18 04:01:14 UTC25%new-210 bps vs Q4 FY2025
We expect our core G&A to be approximately 1.7% of total revenues, our tax rate to be approximately 25%, and the weighted average share count should be approximately 235 million.
LEN · transcript · Q3 FY2026
2026-09-18 04:00:00 UTCOpen source
2026-09-18 04:01:14 UTC$1.3 – $1.65new-32.6% – -14.5% vs Q4 FY2025
On a combined basis, these estimates should produce an EPS range of approximately $1.30-$1.65 for the fourth quarter.
LEN · transcript · Q3 FY2026
2026-09-18 04:00:00 UTCOpen source
2026-09-18 04:01:14 UTCbetter in the fourth quarternew
But we think that the cash flow will be better in the fourth quarter as it normally is.
LEN · transcript · Q3 FY2026
2026-09-18 04:00:00 UTCOpen source
2026-09-18 04:01:14 UTC15.5% – 16%maintained
Our gross margins should be in the range of 15.5%-16%, and our SG&A percentage should be in the range of 8.7%-9% as we continue to navigate this uncertain environment.
LEN · transcript · Q3 FY2026
2026-09-18 04:00:00 UTCOpen source
2026-09-16 20:43:41 UTC15.5% – 16%new
Looking ahead to the fourth quarter of 2026, we expect to generate new orders of approximately 19,500 to 20,500 homes, and to deliver approximately 22,000 to 23,000 homes with gross margin of approximately 15.5% to 16.0%.
LEN · EX-99.1 · Q3 FY2026
2026-09-16 20:42:59 UTCOpen source
2026-09-18 04:01:14 UTCa drop in our inventory levelnew
We do think that there's going to be a drop in our inventory level.
LEN · transcript · Q3 FY2026
2026-09-18 04:00:00 UTCOpen source
2026-09-18 04:01:14 UTC8.7% – 9%maintained
Our gross margins should be in the range of 15.5%-16%, and our SG&A percentage should be in the range of 8.7%-9% as we continue to navigate this uncertain environment.
LEN · transcript · Q3 FY2026
2026-09-18 04:00:00 UTCOpen source
2026-09-16 20:43:41 UTC8.7% – 9%new
| SG&A as a % of Home Sales | 8.7% - 9.0% |
LEN · EX-99.1 · Q3 FY2026
2026-09-16 20:42:59 UTCOpen source
2026-09-18 04:01:14 UTC$90M – $95Mmaintained
We anticipate our financial services earnings to be in the range of $90 million-$95 million.
LEN · transcript · Q3 FY2026
2026-09-18 04:00:00 UTCOpen source
2026-09-16 20:43:41 UTC$90M – $95Mnew
| Financial Services Operating Earnings | $90 million - $95 million |
LEN · EX-99.1 · Q3 FY2026
2026-09-16 20:42:59 UTCOpen source
2026-09-18 04:01:14 UTC$10Mnew
For the combined homebuilding joint venture, land sales, and other categories, we expect earnings of approximately $10 million.
LEN · transcript · Q3 FY2026
2026-09-18 04:00:00 UTCOpen source
2026-09-18 04:01:14 UTC-$20Mnew
For our Lennar other segment, we expect a loss of approximately $20 million, excluding the impact of any potential mark-to-market adjustments.
LEN · transcript · Q3 FY2026
2026-09-18 04:00:00 UTCOpen source
2026-09-18 04:01:14 UTC-$25Mnew
For our multifamily business, we expect a loss of approximately $25 million.
LEN · transcript · Q3 FY2026
2026-09-18 04:00:00 UTCOpen source
2026-09-16 20:43:41 UTC19.5K – 20.5Knew
Looking ahead to the fourth quarter of 2026, we expect to generate new orders of approximately 19,500 to 20,500 homes, and to deliver approximately 22,000 to 23,000 homes with gross margin of approximately 15.5% to 16.0%.
LEN · EX-99.1 · Q3 FY2026
2026-09-16 20:42:59 UTCOpen source
LENLENNAR CORP /NEW/Q3 FY2026 · ends 2026-08-31
1 metric1 maintainedearnings call · 2026-06-13 04:01:06 UTC
2026-06-13 04:01:06 UTC$375K – $380Kmaintained
Our Q3 average sales price on those deliveries should be between $375,000 and $380,000.
LEN · transcript · Q2 FY2026
2026-06-13 04:00:00 UTCOpen source
2026-06-11 20:49:43 UTC$375K – $380Knew
We expect our average sales price to be in the range of approximately $375,000 to $380,000 and our SG&A to improve toward 8.8% to 9.0%.
LEN · EX-99.1 · Q2 FY2026
2026-06-11 20:48:58 UTCOpen source
LENLENNAR CORP /NEW/FY2026 · ends 2026-11-30
1 metric1 maintainedearnings call · 2026-06-13 04:01:06 UTC
2026-06-13 04:01:06 UTC82K – 83Kmaintained
Finally, as Stuart indicated, we're adjusting our annual delivery guidance to 82,000 to 83,000 homes, given current pressures on interest rates and continued macro uncertainty.
LEN · transcript · Q2 FY2026
2026-06-13 04:00:00 UTCOpen source
2026-06-11 20:49:43 UTC82K – 83Klowered -2.9%
Given current pressure on interest rates and geopolitical uncertainty we are moderating our target full-year 2026 deliveries to approximately 82,000 to 83,000 homes.
LEN · EX-99.1 · Q2 FY2026
2026-06-11 20:48:58 UTCOpen source
2026-03-14 04:01:22 UTC85Kmaintained
Finally, we continue to aim for a full-year delivery target of 85,000 homes for the full year.
LEN · transcript · Q1 FY2026
2026-03-14 04:00:00 UTCOpen source
2025-12-18 05:01:54 UTC85Kmaintained
We expect to sell between 18,000 and 19,000 homes and deliver between 17,000 and 18,000 homes. We expect our average sales price to be between $365,000 and $375,000, and as I noted earlier, we expect to deliver approximately 85,000 homes in 2026.
LEN · transcript · Q4 FY2025
2025-12-18 05:00:00 UTCOpen source
2025-12-16 21:34:45 UTC85Knew
We expect that deliveries for the full year will be approximately 85,000 homes.
LEN · EX-99.1 · Q4 FY2025
2025-12-16 21:33:51 UTCOpen source
LENLENNAR CORP /NEW/Q3 FY2026 · ends 2026-08-31
3 metrics2 new1 maintainedearnings call · 2026-06-13 04:01:06 UTC
2026-06-13 04:01:06 UTC20.5K – 21.5Kmaintained
We anticipate our Q3 deliveries to be in the range of 20,500-21,500 as we maintain even flow of production and turn inventory into cash.
LEN · transcript · Q2 FY2026
2026-06-13 04:00:00 UTCOpen source
2026-06-11 20:49:43 UTC20.5K – 21.5Knew
Looking ahead to the third quarter of 2026, we expect to deliver approximately 20,500 to 21,500 homes with gross margin improving to approximately 16% as volume increases, incentive levels continue to moderate, and our cost discipline continues to gain traction.
LEN · EX-99.1 · Q2 FY2026
2026-06-11 20:48:58 UTCOpen source
2026-06-13 04:01:06 UTC238Mnew-6.9% vs Q3 FY2025
We expect our Q3 tax rate to be approximately 28%, and the weighted average share count should be approximately 238 million.
LEN · transcript · Q2 FY2026
2026-06-13 04:00:00 UTCOpen source
2026-06-13 04:01:06 UTC28%new386 bps vs Q3 FY2025
We expect our Q3 tax rate to be approximately 28%, and the weighted average share count should be approximately 238 million.
LEN · transcript · Q2 FY2026
2026-06-13 04:00:00 UTCOpen source