LENLennarQ2 FY2026Earnings Analysis

WeakFundamentals score3 / 10

How is this scored?

Base score5
Revenue declined YoY-1
Net income down more than 20% YoY-2
No high-severity risk factors+1

Total3 / 10

Computed from published fixed rules, not a model's judgement — though one input, the count of high-severity risks, comes from the AI analysis below.

Not investment advice and not a price target: it scores the quarter's fundamentals, not the stock. Full methodology →

AI Takeaway

LEN's Q2 FY2026 results show a decline in revenue and net income, with significant challenges in maintaining profitability amid increased liabilities and reduced equity.

Revenue

$7.94B

-5.22% YoY

EPS (Diluted)

$1.24

-31.49% YoY

Filed Jun 29, 2026 · Analysis updated Jul 3, 2026 · Source: SEC EDGAR 10-Q filing

Next LEN earnings expected Sep 17, 2026

Revenue Growth, Margins & Profitability

Source: SEC XBRL

Lennar (LEN) reported Q2 FY2026 revenue of $7.94B, down 5.2% year over year. LEN's fiscal Q2 FY2026 corresponds to calendar Q2 2026.

LEN vs Analyst Expectations

Last 4 quarters: 1 beat

Quarter	Actual EPS (USD)	Consensus (USD)	Result
Jun 2026This filing	1.24	1.25	Miss -1.1%
Mar 2026	0.93	0.97	Miss -3.9%
Dec 2025	1.93	2.24	Miss -13.7%
Sep 2025	2.29	2.12	Beat +7.9%

Reported EPS of $1.24 versus the $1.25 analyst consensus — a -1.1% miss for Jun 2026.

LEN Q2 FY2026 Management Discussion Highlights

Compiled by AI from this SEC filing

Revenue Decline

LEN experienced a 5.2% decrease in revenue compared to the previous year, reflecting challenges in market demand.

Source: 10-Q Income Statement

Net Income Pressure

Net income fell by 36.2%, indicating significant margin pressures and increased cost challenges.

Source: 10-Q Income Statement

Improved Operating Cash Flow

Operating cash flow improved by 48.1% year-over-year, suggesting better cash management despite revenue declines.

Source: 10-Q Cash Flow Statement

LEN Q2 FY2026 Risk Factors

Compiled by AI from this SEC filing · 0 high, 2 medium, 1 low

Increased Liabilities

medium

The company's total liabilities increased by 2.5%, which could pressure future financial flexibility and increase interest obligations.

Source: 10-Q Balance Sheet

Declining Equity

medium

Stockholders' equity decreased by 4.2%, potentially impacting the company's ability to raise capital and invest in growth opportunities.

Source: 10-Q Balance Sheet

Reduced Share Buybacks

low

Share buybacks decreased by 43.1%, which may affect shareholder returns and signal caution in capital allocation.

Source: 10-Q Cash Flow Statement

LEN Financial Charts & Detailed Metrics

Revenue & Net Income Trend

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Key Metrics

Income Statement

Metric	Current	Previous	YoY Change
Revenue $B	7.94 $B	8.38 $B	-5.22%
Net Income $M	304.77 $M	477.45 $M	-36.17%
EPS (Basic) $	1.24 $	1.81 $	-31.49%
EPS (Diluted) $	1.24 $	1.81 $	-31.49%
SG&A Expense $M	698.40 $M	688.85 $M	+1.39%

Balance Sheet

Metric	Current	Previous	YoY Change
Total Assets $B	33.70 $B	34.37 $B	-1.96%
Total Liabilities $B	11.94 $B	11.64 $B	+2.52%
Stockholders' Equity $B	21.62 $B	22.58 $B	-4.24%

Cash Flow

Metric	Current	Previous	YoY Change
Operating Cash Flow $BYTD	-0.72 $B	-1.38 $B	+48.13%
Investing Cash Flow $MYTD	77.44 $M	182.88 $M	-57.66%
Financing Cash Flow $BYTD	-1.02 $B	-2.31 $B	+56.00%
Share Buybacks $BYTD	0.74 $B	1.30 $B	-43.14%

Key Ratios

Metric	Current	Previous	YoY Change
Net Margin	3.8%	—	—
ROE	1.4%	—	—
ROA	0.9%	—	—
Debt to Equity	0.55	—	—

LEN Q2 FY2026 Earnings FAQ

Answers draw on this SEC filing and the data on this page

Did LEN beat earnings estimates in Q2 FY2026?

Reported EPS of $1.24 versus the $1.25 analyst consensus — a -1.1% miss for Q2 FY2026.

What were the key takeaways from LEN Q2 FY2026 earnings?

Key takeaways include a 5.2% decline in revenue, a 36.2% drop in net income, and improved operating cash flow by 48.1% YoY.

What risks did LEN highlight in its Q2 FY2026 report?

Risks include increased liabilities by 2.5%, declining equity by 4.2%, and reduced share buybacks by 43.1%.

How did LEN's revenue grow in Q2 FY2026?

LEN's revenue decreased by 5.2% YoY to $7.94B, indicating a contraction in sales.

What is LEN's current financial health?

LEN faces challenges with declining revenue and net income, increased liabilities, and reduced equity, but has improved cash flow management.

When is the next LEN earnings date?

Lennar (LEN) is next expected to report earnings on Sep 17, 2026. The date comes from the analyst earnings calendar and can shift until the company confirms it.

Next LEN Earnings

LEN Q3 2026 Earnings Preview

Expected release date, analyst estimates & what to watch

More LEN Earnings Reports

LEN Q1 FY2026

Lennar's Q1 FY2026 results showed significant pressure with revenue declining 13.3% YoY to $6.62B and net income falling 55.8% to $229M, reflecting a challenging homebuilding environment with negative operating cash flow of -$433.5M.

LEN FY2025

Lennar's FY2025 results showed significant pressure with revenue declining 3.5% to $34.2B and net income nearly halving to $2.1B, driven by margin compression and a sharp 91% drop in operating cash flow, even as the company continued returning capital through $1.8B in share buybacks.

Related Earnings Analysis

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LENLennarQ2 FY2026

WeakFundamentals score3 / 10

How is this scored?

Base score5
Revenue declined YoY-1
Net income down more than 20% YoY-2
No high-severity risk factors+1

Total3 / 10

Computed from published fixed rules, not a model's judgement — though one input, the count of high-severity risks, comes from the AI analysis below.

Not investment advice and not a price target: it scores the quarter's fundamentals, not the stock. Full methodology →

AI Takeaway

LEN's Q2 FY2026 results show a decline in revenue and net income, with significant challenges in maintaining profitability amid increased liabilities and reduced equity.

Quarter

Actual EPS (USD)

Consensus (USD)

Result

Jun 2026This filing

1.24

1.25

Miss -1.1%

Mar 2026

0.93

0.97

Miss -3.9%

Dec 2025

1.93

2.24

Miss -13.7%

Sep 2025

2.29

2.12

Beat +7.9%

Metric

Current

YoY Change

Revenue $B

7.94

-5.22%

Net Income $M

304.77

-36.17%

EPS (Basic) $

1.24

-31.49%

EPS (Diluted) $

1.24

-31.49%

SG&A Expense $M

698.40

+1.39%

Metric

Current

YoY Change

Total Assets $B

33.70

-1.96%

Total Liabilities $B

11.94

+2.52%

Stockholders' Equity $B

21.62

-4.24%

Metric

Current

YoY Change

Operating Cash Flow $BYTD

-0.72

+48.13%

Investing Cash Flow $MYTD

77.44

-57.66%

Financing Cash Flow $BYTD

-1.02

+56.00%

Share Buybacks $BYTD

0.74

-43.14%

Metric

Current

YoY Change

Net Margin

3.8%

—

ROE

1.4%

—

ROA

0.9%

—

Debt to Equity

0.55

—