Lennar

LEN · Consumer Discretionary · Market cap $20.2B

Q2 FY26 May 31, 2026 reported Jun 29, 2026

Revenue$7.9B −5% year over year

Gross profit–

Operating profit$0.4B

Net profit$0.3B 4% margin

Numbers and detail

All figures in billions of U.S. dollars, for Q2 FY26 (period ends May 31, 2026).
Item	Value	Share of revenue	Year over year
Revenue	7.9	100%	−5%
Real Estate Other	7.6	96%	−2%
Other Revenue	0.3	4%	−39%
SG&A	−0.7	9%	+1pp
G&A	−0.1	2%	+0pp
Other	−6.7	84%	+0pp
Operating profit	0.4	5% margin	−2pp
Tax	−0.1
Net profit	0.3	4%	−2pp

All figures in billions of U.S. dollars, for Q1 FY26 (period ends Feb 28, 2026).
Item	Value	Share of revenue	Year over year
Revenue	6.6	100%	−13%
Real Estate Other	6.3	95%	−13%
Other Revenue	0.3	5%	−7%
Cost of revenue	−5.8	88%
Gross profit	0.9	13% margin	−4pp
SG&A	−0.4	9%	+1pp
G&A	−0.2	2%	+0pp
Operating profit	0.3	4% margin	−4pp
Tax	−0.1
Net profit	0.2	3%	−3pp

All figures in billions of U.S. dollars, for Q4 FY25 (period ends Nov 30, 2025).
Item	Value	Share of revenue	Year over year
Revenue	9.4	100%	−6%
East	7	74%
Financial Services	1.2	13%
Multifamily	0.7	7%
Other	0.5	5%	+1245%
G&A	−0.2	2%	+0pp
Other	−8.4	90%	+0pp
Operating profit	0.8	8% margin	−6pp
Tax	−0.2
Interest & other costs	−0.1
Net profit	0.5	5%	−6pp

All figures in billions of U.S. dollars, for Q3 FY25 (period ends Aug 31, 2025).
Item	Value	Share of revenue	Year over year
Revenue	8.8	100%	−6%
Homebuilding West	3	34%	−15%
Homebuilding Central	2.1	24%	−6%
Homebuilding East	1.7	19%	−18%
Homebuilding Texas	1.5	17%	+17%
Lennar Financial Services	0.3	3%	+15%
Lennar Multifamily	0.2	2%	+144%
G&A	−0.2	2%	+0pp
Other	−7.8	89%	+0pp
Operating profit	0.8	9% margin	−7pp
Tax	−0.2
Net profit	0.6	7%	−6pp

Quarter by quarter

Pick a quarter and the diagram above changes. Bars compare revenue across the quarters we hold.

Quarter	Period	Reported	Revenue	Year over year	Operating margin	Net profit	Net margin
Q2 FY26	May 31, 2026	Jun 29, 2026	$7.9B	−5%	5%	$0.3B	4%
Q1 FY26	Dec 1, 2025 – Feb 28, 2026	Apr 9, 2026	$6.6B	−13%	5%	$0.2B	3%
Q4 FY25	Sep 1 – Nov 30, 2025	Jan 28, 2026	$9.4B	−6%	9%	$0.5B	5%
Q3 FY25	Jun 1 – Aug 31, 2025	Oct 3, 2025	$8.8B	−6%	9%	$0.6B	7%