Lennar reports Q2 2026 net earnings of $305M, with home deliveries up 2% despite market challenges.

Lennar Corporation posted net earnings of $305 million ($1.24 per diluted share) in Q2 2026, down from $477 million a year earlier, impacted by market headwinds like high mortgage rates and inflation. Home deliveries rose 2% to 20,519 homes, while new orders fell 4% to 21,749 homes. The company improved gross margin to 15.6% and reduced construction costs, signaling operational resilience. For Q3, Lennar expects deliveries of 20,500 to 21,500 homes and a gross margin near 16%, adjusting full-year guidance to 82,000-83,000 homes amid ongoing economic uncertainty.