First Quarter 2026 Highlights Net earnings per diluted share of $0.93 ($0.88 excluding mark-to-market gains on technology investments) Net earnings of $229 million New orders increased 1% year over year to 18,515 homes Backlog of 15,588 homes with a dollar value of $6.0 billion Deliveries decreased 5% year over year to 16,863 homes Total revenues of $6.6 billion Homebuilding operating earnings of $373 million Gross margin on home sales of 15.2% S,G&A expenses as a % of revenues from home sales of 9.8% Net margin on home sales of 5.3% Financial Services operating earnings of $91 million Multifamily operating earnings of $18 million Lennar Other operating loss of $5 million Homebuilding cash and cash equivalents of $2.1 billion No outstanding borrowings under the Company's $3.1 billion revolving credit facility Homebuilding debt to total capital of 15.7% Repurchased 2 million shares of Lennar common stock for $237 million MIAMI, March 12, 2026 /PRNewswire/ -- Lennar Corporation (NYSE: LEN and LEN.B), one of the nation's leading homebuilders, today reported results for its first quarter ended February 28, 2026. First quarter net earnings attributable to Lennar in 2026 were $229 million, or $0.93 per diluted share, compared to first quarter net earnings attributable to Lennar in 2025 of $520 million, or $1.96 per diluted share.
