Filing Flows › Lennar (LEN) › Q2 FY26
Lennar (LEN) Q2 FY26 earnings results (second quarter fiscal 2026)
10-Q filed Jun 29, 2026
Lennar (LEN) reported revenue of $7.9B for the second quarter fiscal 2026 (Q2 FY26), -5% from a year earlier and +20% from the quarter before. Operating margin was 5.0%, net earnings $308M (3.9% of revenue).
Lennar, Q2 FY26: revenue $7.9B (-5% year over year), operating margin 5.0%, net earnings $308M, operating cash flow −$284M. The chart follows the revenue to costs, profit and cash.
| Q2 FY26 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $7.9B | +20% | -5% |
| Operating profit | $398M | +84% | -37% |
| Net earnings | $308M | +32% | -36% |
| Operating cash flow | −$284M | — | — |
What changed
Revenue was $7.9B in Q2 FY26, down 5% year over year and up 20% from the previous quarter. West was the largest line at 35% of revenue. Multifamily lost $0.17B year over year (down 72%), 38% of the total change.
Operating profit was $0.40B, a 5.0% margin (down 2.5 points year over year). Total costs fell 3% while revenue fell 5%. Net earnings were $0.30B, down 36% year over year. The effective tax rate was 25.4%.
Operating cash flow was −$0.28B. Non-cash charges added back $0.04B of depreciation and amortization and $0.03B of share-based compensation. Working capital and other items used $0.65B. Capital expenditures of $0.02B exceeded it, leaving free cash flow of −$0.30B.
Questions
What was Lennar's revenue in the second quarter fiscal 2026?
Lennar (LEN) reported revenue of $7.9B for the second quarter fiscal 2026 (Q2 FY26), -5% from a year earlier and +20% from the quarter before.
Was Lennar profitable in the second quarter fiscal 2026?
Operating profit was $398M (5.0% of revenue) and net earnings $308M.
Source: Lennar 10-Q on SEC EDGAR.