Lennar Corp Class A

LEN: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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Lennar Earnings: Discounting Continues but Could Be Stabilizing

David Whiston

Mar 13, 2026

Lennar's fiscal first-quarter adjusted EPS of $0.88 fell 58.9% year over year. Homebuilding revenue was down 13% on 8% lower pricing and 5% fewer deliveries. Incentives of about 14% of gross price were flat with the fourth quarter, and the company said some recent new order levels were below 14%.

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Lennar Corp Class A

Lennar Earnings: Discounting Continues but Could Be Stabilizing

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