Lennar (LEN) earnings

LENNAR CORP /NEW/· Consumer Discretionary

Results to: Aug 2026
Latest analysed call: Aug 2026 (Q3 FY26)
Balance sheet to: Nov 2025

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Lennar earnings: last reported Thu, 17 Sep 2026, for the quarter ended Aug 2026.

Reported

The figures, each with its period

Each figure keeps its basis and period; nothing is filled in.

Metric	Value	Change	Basis	Period	Note
Revenue	8,046 $ million	−8.7% YoY	Quarterly, as filed	Quarter to Aug 2026	Revenue from operations as filed.
Operating margin	Unavailable	—	Operating profit / revenue	Quarter to Aug 2026	Not in the filed figures for the quarter to aug 2026. No older figure is substituted.
Net profit	284 $ million	−52.0% YoY	Quarterly, as filed	Quarter to Aug 2026	Profit after tax as filed.

Source: Inve data from filed results (SEC filings) · to Aug 2026

Price

$75.87 −1.57% · −$1.21

Last close Oct 19, 2026 · US · USD

Performance −39.7% 1Y

1Y: $125.82 on 17 Oct 2025 → $75.87. High $133.13 (3 Dec 2025), low $73.53 (14 Oct 2026).

Previous close: $77.08
52-week range: $73.53 – $133.13
One year: −39.71%

Overview

Symbol: LEN
Sector: Consumer Discretionary
Exchange: US
Currency: USD

Financials

What the filings say

Net profit, year on year: −52% (quarter to aug 2026 against aug 2025).

In $ million. Oldest period first.

Line item	Nov 2024	Feb 2025	May 2025	Aug 2025	Nov 2025	Feb 2026	May 2026	Aug 2026
Sales	9,947	7,632	8,378	8,810	9,368	6,619	7,940	8,046
Expenses	8,583	6,936	7,749	8,111	8,724	6,403	7,542	7,586
Other income	69	32	31	-19	-106	8	4	-23
Profit before tax	1,458	698	642	791	683	302	413	387
Tax rate	24.6%	24.3%	24.9%	24.1%	27.1%	22.8%	25.4%	26.3%
Net profit	1,096	520	477	591	490	229	305	284
EPS ($ per share)	—	1.96	1.81	2.29	—	0.93	1.24	1.19

Source: Inve data · income statement, quarterly · to Aug 2026

In $ million. Oldest period first.

Line item	Nov 2018	Nov 2019	Nov 2020	Nov 2021	Nov 2022	Nov 2023	Nov 2024	Nov 2025
Reserves	6,488	8,295	10,565	14,685	18,861	22,369	25,753	22,471
Total liabilities	13,883	13,326	11,836	12,211	13,744	12,532	13,292	12,290
Fixed assets	320	280	412	340	355	405	516	643
Total assets	28,566	29,360	29,935	33,208	37,984	39,234	41,313	34,430

Source: Inve data · balance sheet · to Nov 2025

In $ million. Oldest period first.

Line item	Nov 2018	Nov 2019	Nov 2020	Nov 2021	Nov 2022	Nov 2023	Nov 2024	Nov 2025
Cash from operations	1,692	1,482	4,191	2,533	3,266	5,180	2,403	217
Cash from investing	-594	20	-280	-105	-128	-177	-303	222
Cash from financing	-2,196	-1,629	-2,447	-2,405	-1,277	-3,248	-3,682	-1,598
Net cash flow	-1,098	-127	1,464	23	1,860	1,755	-1,581	-1,159
Capital expenditure	-130	-86	-73	-65	-57	-100	-172	-189
Free cash flow	1,561	1,396	4,118	2,468	3,208	5,080	2,232	28

Source: Inve data · cash flow · to Nov 2025

LEN operating KPIs by quarter

LEN operating KPIs stated on its earnings calls, by fiscal quarter
KPI	Feb 2026 Q1 FY26	May 2026 Q2 FY26	Change vs prior quarter
Homes started	17.425K We started 17,425 homes, and we sold 18,515 homes, staying closely in balance and keeping our inventory properly sized. Source: earnings call transcript	~20.6K During the quarter, we started approximately 20,600 homes and ended the quarter with approximately 38,600 homes in inventory, which included about 3,500 completed, unsold homes or just [ about ] 2 homes per community. Source: earnings call transcript	—
Land bank delivery rate	86% We have an 86% land bank delivery rate this quarter, up from 52% in Q1 of last year, and this reflects both the maturation of those relationships and the volume consistency that makes us a valued partner to each of our counterparties. Source: earnings call transcript	86% Our land banking partnership continued to function extremely well and are getting increasingly more efficient while providing just-in-time home site delivery at an 86% delivery rate. Source: earnings call transcript	0 pt
Homesites controlled percentage	98% Our year's supply of owned homesites was 0.1 years and our homesites controlled percentage was 98%. Source: earnings call transcript	98% With respect to land, we own 2% on our balance sheet and control 98% through third parties. Source: earnings call transcript	0 pt
Owned homesites	11K We ended the quarter owning 11,000 homesites and controlling 486,000 for a total of 497,000 homesites. Source: earnings call transcript	11K We ended the quarter owning 11,000 homesites and controlling 484,000 homesites. Source: earnings call transcript	0%
Controlled homesites	486K We ended the quarter owning 11,000 homesites and controlling 486,000 for a total of 497,000 homesites. Source: earnings call transcript	484K We ended the quarter owning 11,000 homesites and controlling 484,000 homesites. Source: earnings call transcript	-0.4%
Completed unsold homes	~5,000 This includes about 5,000 completed unsold homes, which as we've noted, equates to about 3 homes per community. Source: earnings call transcript	~3,500 During the quarter, we started approximately 20,600 homes and ended the quarter with approximately 38,600 homes in inventory, which included about 3,500 completed, unsold homes or just [ about ] 2 homes per community. Source: earnings call transcript	—

Operating figures the company stated on at least two of the calls shown, checked against each call's transcript. Click a figure to read the sentence. A dash means it was not stated that quarter.

Insider filings

109 filings between Nov 26, 2025 and Oct 7, 2026.

Open market

decisions to buy or sell

Purchases

$595.29M

45 purchases by 1 insider

Sales

None

No insider sold shares.

Compensation

not trading decisions

49: Award — granted as compensation
9: Tax withheld — shares kept back by the company to cover tax

Also filed: 2 dispositions to the issuer, 2 gifts, 2 other filings.

Who traded

open market only

Insider	Bought	Sold	Last filing
BERKSHIRE HATHAWAY INC	$595.29M	—	Oct 2, 2026

Latest filings (50)

Date	Insider	What	Shares	Value
Oct 7, 2026	McClure Teri P Director	Award	15	$1.1K
Oct 7, 2026	SONNENFELD JEFFREY Director	Award	21	$1.6K
Oct 7, 2026	Smith Dacona Director	Award	15	$1.1K
Oct 7, 2026	Banse Amy Director	Award	15	$1.1K
Oct 7, 2026	Wolfe Serena Director	Award	15	$1.1K
Oct 7, 2026	Gilliam Theron I Director	Award	15	$1.1K
Oct 7, 2026	HUDSON SHERRILL W Director	Award	15	$1.1K
Oct 7, 2026	OLIVERA ARMANDO J Director	Award	24	$1.8K
Oct 2, 2026	BERKSHIRE HATHAWAY INC 10% owner	Purchase	299	$23.8K
Oct 2, 2026	BERKSHIRE HATHAWAY INC 10% owner	Purchase	842,753	$67.45M
Oct 2, 2026	BERKSHIRE HATHAWAY INC 10% owner	Purchase	448,113	$35.12M
Oct 2, 2026	BERKSHIRE HATHAWAY INC 10% owner	Purchase	20,200	$1.65M
Oct 2, 2026	BERKSHIRE HATHAWAY INC 10% owner	Purchase	342,553	$27.07M
Oct 2, 2026	BERKSHIRE HATHAWAY INC 10% owner	Purchase	2,452	$191.1K
Oct 2, 2026	BERKSHIRE HATHAWAY INC 10% owner	Purchase	44,300	$3.59M
Oct 2, 2026	BERKSHIRE HATHAWAY INC 10% owner	Purchase	5,135	$404.5K
Oct 2, 2026	BERKSHIRE HATHAWAY INC 10% owner	Purchase	2,290	$176.6K
Oct 1, 2026	BERKSHIRE HATHAWAY INC 10% owner	Purchase	186,991	$15.23M
Oct 1, 2026	BERKSHIRE HATHAWAY INC 10% owner	Purchase	425,869	$33.85M
Oct 1, 2026	BERKSHIRE HATHAWAY INC 10% owner	Purchase	92,830	$7.48M
Oct 1, 2026	BERKSHIRE HATHAWAY INC 10% owner	Purchase	950	$75.5K
Oct 1, 2026	BERKSHIRE HATHAWAY INC 10% owner	Purchase	100	$8.0K
Oct 1, 2026	BERKSHIRE HATHAWAY INC 10% owner	Purchase	3,802	$297.5K
Sep 30, 2026	BERKSHIRE HATHAWAY INC 10% owner	Purchase	638,813	$52.12M
Sep 30, 2026	BERKSHIRE HATHAWAY INC 10% owner	Purchase	4,008	$320.6K
Sep 29, 2026	BERKSHIRE HATHAWAY INC 10% owner	Purchase	12,289	$1.01M
Sep 29, 2026	BERKSHIRE HATHAWAY INC 10% owner	Purchase	100	$8.0K
Sep 28, 2026	BERKSHIRE HATHAWAY INC 10% owner	Purchase	5,200	$426.2K
Sep 25, 2026	BERKSHIRE HATHAWAY INC 10% owner	Purchase	313,379	$25.35M
Sep 25, 2026	BERKSHIRE HATHAWAY INC 10% owner	Purchase	7,022	$558.5K
Sep 25, 2026	BERKSHIRE HATHAWAY INC 10% owner	Purchase	171,723	$14.01M
Sep 24, 2026	BERKSHIRE HATHAWAY INC 10% owner	Purchase	399,238	$32.17M
Sep 24, 2026	BERKSHIRE HATHAWAY INC 10% owner	Purchase	241,692	$19.68M
Sep 24, 2026	BERKSHIRE HATHAWAY INC 10% owner	Purchase	2,975	$237.7K
Sep 24, 2026	BERKSHIRE HATHAWAY INC 10% owner	Purchase	9,415	$747.7K
Sep 23, 2026	BERKSHIRE HATHAWAY INC 10% owner	Purchase	1,263	$101.0K
Sep 23, 2026	BERKSHIRE HATHAWAY INC 10% owner	Purchase	532,993	$43.52M
Sep 21, 2026	BERKSHIRE HATHAWAY INC 10% owner	Purchase	160,275	$12.38M
Sep 21, 2026	BERKSHIRE HATHAWAY INC 10% owner	Purchase	483,809	$37.72M
Sep 21, 2026	BERKSHIRE HATHAWAY INC 10% owner	Purchase	4,888	$370.3K
Sep 21, 2026	BERKSHIRE HATHAWAY INC 10% owner	Purchase	18,146	$1.39M
Sep 18, 2026	BERKSHIRE HATHAWAY INC 10% owner	Purchase	68,760	$5.37M
Sep 18, 2026	BERKSHIRE HATHAWAY INC 10% owner	Purchase	1,218,429	$93.08M
Sep 18, 2026	BERKSHIRE HATHAWAY INC 10% owner	Purchase	7,900	$623.2K
Sep 18, 2026	BERKSHIRE HATHAWAY INC 10% owner	Purchase	710	$54.7K
Sep 18, 2026	BERKSHIRE HATHAWAY INC 10% owner	Purchase	51,586	$3.98M
Sep 18, 2026	BERKSHIRE HATHAWAY INC 10% owner	Purchase	33,122	$2.48M
Sep 18, 2026	BERKSHIRE HATHAWAY INC 10% owner	Purchase	500	$39.2K
Sep 18, 2026	BERKSHIRE HATHAWAY INC 10% owner	Purchase	390	$29.5K
Sep 17, 2026	BERKSHIRE HATHAWAY INC 10% owner	Purchase	8,959	$689.5K

Source: SEC Form 4 filings. Form 4 reports transactions, not the cap table — absence of filings says nothing about how much an insider owns, and a quiet window is not a signal.

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Lennar (LEN) earnings

The figures, each with its period

Performance −39.7% 1Y

Aug 2026 (Q3 FY26) — Sep 17, 2026

May 2026 (Q2 FY26) — Jun 12, 2026

Feb 2026 (Q1 FY26) — Mar 13, 2026

Lennar earnings calls (LEN)

What the filings say

LEN operating KPIs by quarter

Insider filings

Open market

Compensation

Who traded

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