LEN

NVR, Inc. NVR reported third-quarter 2026 results, with earnings and Homebuilding revenues missing the Zacks Consensus Estimate. Both metrics also declined on a year-over-year basis. The quarter reflected fewer settlements, softer pricing and margin pressure amid affordability challenges and weak consumer sentiment. New orders declined and cancellations increased, but backlog units rose 10% year over year. Following the results, NVR stock jumped 3.6% during yesterday's trading hours, potentially supported by backlog growth, improved Mortgage Banking profitability and continued share repurchases despite weaker earnings. The company reported earnings of $89.45 per share, down 20.4% year over year and missing the Zacks Consensus Estimate of $106.11 by 15.7%. Homebuilding revenues of $2.35 billion also missed the consensus mark of $2.60 billion by 9.8%. Revenues declined 8.2% year over year from $2.56 billion, reflecting lower settlement volumes and a decrease in the average settlement price. NVR, Inc. price-consensus-eps-surprise-chart | NVR, Inc. Quote Consolidated revenues (Homebuilding & Mortgage Banking fees combined) amounted to $2.40 billion, down 7.9% on a year-over-year basis. Settlements fell 7% to 5,268 units from 5,639 units, limiting revenue generation during the quarter. The Mid Atlantic region recorded 1,786 settlements compared with 2,008 a year ago, while Mid East settlements declined to 1,090 from 1,200. South East settlements decreased to 1,915 units from 2,011, while North East settlements increased to 477 units from 420. The average settlement price declined 2% year over year to $445,900, adding to the pressure from fewer closings. Homebuilding gross margin contracted to 18.3% from 21% a year ago, reflecting a 270-basis-point decline. Profitability was pressured by higher lot costs, continued affordability challenges and weak consumer sentiment, which contributed to increased pricing pressure. Our estimate for the metric was 19.9%. The quarter also included approximately $24.8 million of contract land deposit impairments. Consequently, Homebuilding income before taxes declined 27% year over year to $299.7 million from $411.4 million. Mortgage banking fees increased to $53.1 million from $49.2 million in the prior-year quarter. However, mortgage closed loan production declined 10% year over year to $1.38 billion from $1.54 billion, reflecting lower financing activity. Despite weaker loan production, Mortgage Banking income before taxes increased 7% to $35 million from $32.7 million. The capture rate, representing the percentage of NVR homebuyers using the company's mortgage services, decreased to 85% from 86%. New orders, net of cancellations, declined 7% year over year to 4,391 units from 4,735. Mid Atlantic orders decreased to 1,641 units from 1,714, while North East orders fell to 232 from 433. Mid East orders declined to 891 units from 931, while South East orders decreased to 1,627 from 1,657. The average sales price of new orders fell 5% to $442,100 from $464,800. The cancellation rate increased to 21% from 19.4%, indicating that a greater proportion of signed contracts failed to convert into firm orders during the quarter. Backlog totaled 10,121 units as of Sept. 30, 2026, up 10% from 9,165 units a year earlier. The dollar value of backlog increased 4% to $4.59 billion, reflecting a larger volume of homes awaiting settlement. However, the average backlog price declined to $453,000 from $479,500. Average active communities increased to 454 from 450, slightly expanding the company's selling footprint despite softer order activity. Homebuilding cash and cash equivalents were $1.09 billion as of Sept. 30, 2026, compared with $1.88 billion at the end of 2025. Homebuilding inventory increased to $2.37 billion from $1.72 billion during the same period. Mortgage Banking cash and cash equivalents were $34.1 million compared with $32.6 million at year-end. NVR repurchased 37,088 shares during the quarter for an aggregate cost of $237.2 million. Shares outstanding declined to 2.64 million from 2.86 million a year earlier, helping offset part of the impact of lower net income on per-share earnings. NVR currently has a Zacks Rank #5 (Strong Sell). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. PulteGroup, Inc. PHM reported third-quarter 2026 earnings of $2.53 per share, missing the Zacks Consensus Estimate of $2.63 by 3.8%. Earnings declined 14.5% from $2.96 per share in the year-ago quarter. PulteGroup's total revenues of $3.97 billion fell short of the consensus mark of $4.13 billion by 3.9% and decreased 9.8% year over year. Results reflected lower home-closing volumes, softer average selling prices and margin pressure amid affordability challenges, rising mortgage rates and inflation. Net new orders declined year over year, while backlog increased in both units and dollar value. Lennar Corporation LEN reported weaker-than-expected third-quarter fiscal 2026 (ended Aug. 31) results. Adjusted earnings of $1.23 per share missed the Zacks Consensus Estimate of $1.29 by 4.7% and fell 38.5% from $2.00 a year ago. Lennar's total revenues of $8.05 billion missed the consensus estimate of $8.33 billion by 3.4% and declined 8.6% year over year. Lower deliveries and home prices weighed on results amid affordability pressure. Inventory turn stood at 2.4 times. United Rentals, Inc. URI reported third-quarter 2026 results, with adjusted earnings per share and total revenues beating the Zacks Consensus Estimate and increasing year over year. URI's adjusted earnings of $15.55 per share topped the Zacks Consensus Estimate of $13.83 by 12.4% and grew 32.9% year over year from $11.70. United Rentals' total revenues rose 15.7% year over year to $4.89 billion and surpassed the consensus estimate of $4.69 billion by 4.3%. Management raised its revenue outlook to $18-$18.2 billion from $17.5-$17.8 billion. Adjusted EBITDA is now projected at $8.3-$8.4 billion compared with $7.98-$8.13 billion previously. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report NVR, Inc. (NVR) : Free Stock Analysis Report PulteGroup, Inc. (PHM) : Free Stock Analysis Report Lennar Corporation (LEN) : Free Stock Analysis Report United Rentals, Inc. (URI) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

Comfort Systems USA, Inc. (FIX delivered impressive third-quarter 2026 results, with earnings and revenues surpassing the Zacks Consensus Estimate and increasing sharply year over year. The quarterly performance reflected robust demand across technology-related projects, strong execution and continued expansion in construction activity. Backlog reached $17.81 billion, reinforcing management's confidence in sustained growth and profitability. FIX shares dipped more than 6% in after-hours trading on Thursday, Oct. 22, 2026, following the release of its third-quarter 2026 results. The decline reflected concerns over the absence of forward guidance and the company's CFO transition. The company announced that longtime chief financial officer Bill George will retire after the filing of its 2026 annual report, ending a 30-year tenure. Julie Shaeff, currently chief accounting officer, will succeed him. Comfort Systems USA, Inc. price-consensus-eps-surprise-chart | Comfort Systems USA, Inc. Quote The company reported earnings per share of $13.91, which topped the Zacks Consensus Estimate of $12.71 by 9.4% and increased 68.6% from $8.25 reported in the year-ago quarter. Revenues of $3.77 billion surpassed the consensus mark of $3.35 billion by 12.5% and rose 53.7% from $2.45 billion generated in the prior-year quarter. The improvement reflected strong demand, increased project activity and contributions from acquired businesses. Comfort Systems generated Mechanical segment (which accounted for 68.6% of total revenues in the quarter) revenues of $2.58 billion in the third quarter, up 42.7% from $1.81 billion in the prior-year quarter. The segment's operating income increased 63.2% to $469.6 million from $287.8 million a year ago. The Electrical segment's revenues (which accounted for 31.4% of total revenues) surged 84.8% year over year to $1.18 billion from $640.5 million. Segment operating income climbed 60.4% to $173.6 million, supported by increased activity across electrical contracting operations. Technology customers accounted for 60.8% of consolidated revenues compared with 45.8% a year ago. Manufacturing represented 16.8%, followed by healthcare at 6.3%, education at 4.6% and government at 3.7%. New construction contributed 76.2% of quarterly revenues, up from 65.2% in the year-ago period. Existing building construction accounted for 14%, while service projects and service calls, maintenance and monitoring represented 5.1% and 4.7%, respectively. Backlog as of Sept. 30, 2026, totaled $17.81 billion, increasing 26.7% from $14.06 billion at June 30, 2026, and jumping 90% from $9.38 billion reported a year ago. On a same-store basis, backlog climbed to $17.39 billion from $9.38 billion in the prior-year period, highlighting substantial organic growth in the company's project pipeline. Management attributed the strong order momentum to sustained demand and the company's execution capabilities. Approximately 65-75% of remaining construction performance obligations are expected to be recognized as revenues over the next 12 months, providing visibility into future business activity. Gross profit increased 53.7% to $934.5 million from $607.9 million a year ago. Gross margin remained stable at 24.8%, reflecting consistent profitability despite the significant expansion in revenues. Selling, general and administrative expenses increased 36.8% to $314.2 million. However, SG&A expenses as a percentage of revenues improved to 8.3% from 9.4%, indicating better expense absorption as business volumes expanded. Operating income surged 64.8% to $624.6 million from $378.9 million in the prior-year quarter. Operating margin expanded 110 basis points to 16.6%. Adjusted EBITDA increased 61.4% to $667.9 million from $413.9 million. Adjusted EBITDA margin improved 80 basis points to 17.7%, reflecting stronger operating profitability. As of Sept. 30, 2026, Comfort Systems had cash and cash equivalents of $2.16 billion, up from $981.9 million at 2025-end. Total debt declined to $49.6 million from $145.2 million, strengthening the company's financial flexibility. During the quarter, net cash provided by operating activities increased 82.6% to $1.01 billion from $553.3 million a year earlier. Free cash flow rose to $805.6 million from $519 million, despite higher capital expenditures. The company also paid dividends of 90 cents per share during the quarter, compared with 50 cents a year ago. Share repurchases totaled $340.9 million, reflecting continued shareholder returns alongside investments in business expansion. Comfort Systems' management maintained a positive outlook, supported by strong customer demand, an expanding project pipeline and consistent operating execution. The company expects to sustain organic growth, high profitability and solid cash generation through the remainder of 2026 and into 2027. Management emphasized that continued demand and workforce capabilities position the business to capitalize on opportunities across its key markets. Recent acquisitions also expanded the company's operating capabilities. During the third quarter, Comfort Systems acquired Boys Electrical Contractors in Florida and a Texas-based modular construction business, strengthening its presence across electrical services and customized building components. Comfort Systems currently has a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. KB Home KBH reported third-quarter fiscal 2026 earnings of $1.05 per share, beating the Zacks Consensus Estimate of 88 cents by 19.3%. Earnings declined 34.8% from $1.61 per share in the year-ago quarter. KBH's total revenues of $1.30 billion surpassed the consensus mark of $1.29 billion by 0.4% but dropped 20% year over year. Results reflected lower deliveries and continued pricing pressure, partly offset by progress in the company's Built to Order model. BTO homes represented 74% of deliveries, supporting sequential improvement in housing gross margin. Lennar Corporation LEN reported weaker-than-expected third-quarter fiscal 2026 (ended Aug. 31) results. Adjusted earnings of $1.23 per share missed the Zacks Consensus Estimate of $1.29 by 4.7% and fell 38.5% from $2.00 per share a year ago. Lennar's total revenues of $8.05 billion missed the consensus estimate of $8.33 billion by 3.4% and declined 8.6% year over year. Lower deliveries and home prices weighed on results amid affordability pressure. Inventory turn stood at 2.4 times. United Rentals, Inc. URI reported third-quarter 2026 results, with adjusted earnings per share and total revenues beating the Zacks Consensus Estimate and increasing year over year. URI's adjusted earnings of $15.55 per share topped the Zacks Consensus Estimate of $13.83 by 12.4% and grew 32.9% year over year from $11.70 per share. URI's total revenues rose 15.7% year over year to $4.89 billion and surpassed the consensus estimate of $4.69 billion by 4.3%. United Rentals management raised its revenue outlook to $18-$18.2 billion from $17.5-$17.8 billion. Adjusted EBITDA is now projected at $8.3-$8.4 billion compared with $7.98-$8.13 billion previously. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Comfort Systems USA, Inc. (FIX) : Free Stock Analysis Report KB Home (KBH) : Free Stock Analysis Report Lennar Corporation (LEN) : Free Stock Analysis Report United Rentals, Inc. (URI) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

- Interested in PulteGroup, Inc.? Here are five stocks we like better. - Demand weakened significantly in Q3 as higher mortgage rates and declining consumer confidence reduced community traffic by 14% year over year. Home closings fell 9% to 6,876, while net new orders declined 6% to 6,208. - First-time and move-up buyers were hit hardest, with orders down 9% and 14%, respectively, while active-adult orders rose 11%. Regional conditions were stronger in Florida and parts of the Midwest but weaker in the Southeast, West and Texas. - PulteGroup maintained its full-year gross-margin outlook at 24.5%–25.0% and is controlling inventory and land exposure, including walking away from 8,000 optioned lots. The company returned nearly $400 million to shareholders during the quarter and ended with $1.4 billion in cash and net debt-to-capital of 3%. - Lennar's Earnings Miss May Be Sending a Bigger Warning About U.S. Housing PulteGroup (NYSE:PHM) reported third-quarter 2026 net income of $476 million, or $2.53 per share, as higher mortgage rates and weaker consumer confidence reduced buyer traffic and home closings. The homebuilder said it maintained relatively stable conversion rates among prospective buyers who visited its communities, but fewer consumers began the home-search process during the quarter. Third-quarter home sale revenue fell 9% from a year earlier to $3.9 billion, driven by a 9% decline in closings to 6,876 homes. Net new orders totaled 6,208 homes, down 6% year over year, as a 13% decline in absorption pace more than offset a 7% increase in average community count. → Aurora Rejects Curaleaf's Higher Bid, But the Takeover Fight Isn't Over - Homebuilders Are Down for the Year, Is Wall Street in Denial? President and CEO Ryan Marshall said the business experienced a notable slowdown in demand as interest rates increased through the quarter, particularly in September. Traffic to PulteGroup communities declined 14% from the prior year and 11% sequentially from the second quarter. "What changed in the quarter, and most notably in September, is that the big move higher in interest rates, along with inflation, global tensions, and waning confidence, reached the point where more consumers simply put their search on pause," Marshall said. → Could Quantinuum's Breakthrough Make Its Sell-Off a Bargain? - These 3 GARP Stocks Show Why Growth and Value Do Not Have to Clash PulteGroup said first-time buyers were the most affected by higher rates, as that group generally requires mortgage financing. Net new orders from first-time buyers declined 9% year over year, while move-up buyer orders fell 14%. Active-adult orders increased 11%, supported by growth in the company's community count serving that customer base. The company's third-quarter cancellation rate was 10% of beginning backlog, improving from 12% in the prior-year period and declining 50 basis points from the second quarter. Chief Financial Officer Jim Ossowski said the stable cancellation level indicates that customers already under contract remain committed to closing. → IonQ's Bold Expansion Could Leave Shareholders Paying the Price PulteGroup ended the quarter with backlog of 10,298 homes valued at $6.4 billion, compared with 9,888 homes valued at $6.2 billion a year earlier. Its absorption pace was 1.9 homes per month, down from 2.2 homes per month in the third quarter of 2025. Marshall said conditions remained stronger in Florida and selected Midwest markets, helping offset softer demand in the Southeast and ongoing weakness in Western markets. He also cited Texas as a more difficult environment, with increased available inventory across the state's major markets. The company reported a home sale gross margin of 24.8%, down 140 basis points from a year earlier and 20 basis points from the prior quarter. The result included incentives equal to 10.4% of home sales revenue, compared with 8.9% in the prior-year quarter, as well as $26 million in land impairment charges. Construction costs helped moderate margin pressure. PulteGroup's build costs were $75 per square foot, down 5% from a year earlier and unchanged from the second quarter. Ossowski said the company expects build costs to decline by low single digits year over year in the fourth quarter. For the fourth quarter, PulteGroup expects gross margins of 24.0% to 24.5% as it factors in the expected mix of homes closing and incentives associated with selling spec homes. The company maintained its full-year gross-margin forecast of 24.5% to 25.0%. Marshall said the company is emphasizing returns rather than pursuing sales volumes through deeper price cuts. "Sometimes lowering price doesn't generate incremental sales," he said, adding that additional discounts can reduce profitability across all home sales without creating sufficient incremental demand. PulteGroup now expects to close between 7,000 and 7,500 homes in the fourth quarter and between 27,000 and 27,500 homes for full-year 2026. It maintained guidance for average selling prices of $550,000 to $560,000 in the fourth quarter and for the full year. At quarter-end, the company had 14,599 homes under construction, including 6,627 spec homes. Total spec inventory was down 10% year over year, while finished spec homes declined 16% to 1,696, or an average of 1.6 per community. Ossowski said the company started slightly more than 6,500 homes during the third quarter, compared with sales of about 6,200 homes, reflecting how quickly demand weakened in September after permits and production plans had already been set. "We continue to tightly control our starts pace to align production with changing demand dynamics," Ossowski said. Full-year SG&A expense is now expected to be 10.3% to 10.5% of home sale revenues, reflecting lower expected closings and less operating leverage as communities take longer to close out. During the third quarter, PulteGroup invested $1.3 billion in land acquisition and development, bringing year-to-date spending to $4 billion. The company expects to invest approximately $5.3 billion in land during 2026, though Marshall said it is prepared to reduce land spending in 2027 if market conditions warrant. The company ended the quarter with approximately 224,000 lots under control, down 16,000 from a year earlier. It walked away from approximately 8,000 lots previously held under option during the quarter after determining those transactions no longer met risk-adjusted return thresholds. PulteGroup repurchased 2.8 million shares for $350 million in the quarter and returned nearly $400 million to shareholders through repurchases and dividends. It ended the period with $1.4 billion in cash and a net debt-to-capital ratio of 3%. Marshall said the company's geographic diversity, land pipeline and balance sheet provide flexibility to manage a potentially prolonged period of elevated mortgage rates while continuing to evaluate market opportunities. PulteGroup, Inc is a major U.S. homebuilding company that designs, builds and sells homes for a range of buyers, including first-time, move-up and active-adult customers. Its operations include land acquisition and development, home construction, sales and marketing, and customer service. The company markets homes under several well-known brands, including Pulte, Centex, Del Webb, DiVosta and American West. Through these brands, PulteGroup offers a variety of single-family home designs and communities, with products tailored to different price points, lifestyles and stages of homeownership. This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected]. The article "What PulteGroup (PHM) Said on Its Q3 Earnings Call" was originally published by MarketBeat. View MarketBeat's top stocks for October 2026.

PulteGroup, Inc. PHM reported weaker-than-expected third-quarter 2026 results, with earnings and total revenues missing the Zacks Consensus Estimate and declining year over year. Earnings fell 14.5%, while revenues decreased 9.8% from the prior-year quarter. The quarterly performance reflected lower home-closing volumes, softer average selling prices (ASP) and margin compression. Persistently challenging housing affordability, rising mortgage rates and inflation weighed on homebuyer demand. Net new orders declined year over year, although the company's backlog increased in both units and dollar value. PHM stock plunged almost 6% following the earnings release. Quarterly earnings were $2.53 per share, missing the Zacks Consensus Estimate of $2.63 by 3.8%. Earnings fell from $2.96 per share in the prior-year quarter. Total revenues (Homebuilding & Financial Services) of $3.97 billion lagged the consensus mark of $4.13 billion by 3.9% and decreased 9.8% from $4.40 billion in the year-ago period. Net income declined 18.8% year over year to $475.7 million from $585.8 million. Income before income taxes fell 18.6% to $625.2 million, reflecting weaker homebuilding profitability. PulteGroup, Inc. price-consensus-eps-surprise-chart | PulteGroup, Inc. Quote Homebuilding segment revenues decreased 10.1% year over year to $3.87 billion. Home sale revenues declined 9.2% to $3.86 billion, primarily reflecting lower home-closing volumes and a modest reduction in average selling prices. Land sale and other revenues dropped to $7.8 million from $53.2 million. The number of homes closed fell 8.7% year over year to 6,876 units. Deliveries declined across all six geographic regions, with the West and Northeast witnessing particularly pronounced contractions. The ASP of homes delivered slipped 0.5% to $561,000 from $564,000. Homebuilding income before income taxes decreased 19.9% year over year to $579.6 million from $723.4 million. The decline reflected reduced sales volumes and continued pressure on home-sale margins. Net new orders declined 6.5% year over year to 6,208 homes from 6,638. Orders increased in Florida but decreased across the remaining five geographic regions. The average community count rose 7% to 1,077, indicating that a larger selling footprint did not translate into higher overall orders. The dollar value of net new orders fell 3.9% to $3.50 billion from $3.64 billion in the prior-year quarter. PulteGroup ended the quarter with a backlog of 10,298 homes, up 4.1% year over year. Backlog units increased in the Northeast, Florida, Midwest and Texas, while the Southeast and West recorded declines. The value of homes in the backlog rose 3.4% to $6.44 billion, indicating a modest increase in the company's future home-delivery pipeline despite softer current-quarter demand. Home sale gross margin contracted 140 basis points (bps) year over year to 24.8% from 26.2%. The reported margin included $26 million of land impairments, representing approximately 70 bps of margin pressure. Selling, general and administrative (SG&A) expenses declined to $397.2 million from $400.7 million. However, as a percentage of home sale revenues, SG&A expenses increased 90 bps to 10.3%, reflecting reduced operating leverage amid lower revenues. Management emphasized its strategy of balancing home pricing and sales pace while aligning production with demand conditions. Move-up and active-adult buyers accounted for more than 60% of the company's business, supporting its focus on maintaining profitability amid housing-market challenges. Financial Services revenues increased 3.7% year over year to $107 million from $103.3 million. Segment income before income taxes improved 2.7% to $45.6 million from $44.4 million. Mortgage origination volume declined 7.2% to 4,438 loans from 4,782, while origination principal fell 6.5% to $1.92 billion from $2.05 billion. The mortgage capture rate improved to 84.6% from 84.4%, reflecting a slightly higher proportion of eligible homebuyers using the company's mortgage services. PulteGroup ended the quarter with $1.41 billion in cash, cash equivalents and restricted cash, down from $2.01 billion at 2025-end. Notes payable totaled $1.81 billion, resulting in a debt-to-capital ratio of 12.1% and a net debt-to-capital ratio of 3%. Operating cash flow for the first nine months of 2026 declined 42.1% year over year to $637 million, partly reflecting a $1.15 billion increase in inventories. During the third quarter, PHM repurchased 2.8 million shares for $350 million. For the first nine months, repurchases totaled $1.03 billion, representing approximately 8.4 million shares. The company continued returning capital to shareholders while maintaining a relatively low leverage position. PulteGroup currently has a Zacks Rank #4 (Sell). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. KB Home KBH reported third-quarter fiscal 2026 earnings of $1.05 per share, beating the Zacks Consensus Estimate of 88 cents by 19.3%. Earnings declined 34.8% from $1.61 per share in the year-ago quarter. KBH's total revenues of $1.30 billion surpassed the consensus mark of $1.29 billion by 0.4% but dropped 20% year over year. Results reflected lower deliveries and continued pricing pressure, partly offset by progress in the company's Built to Order model. BTO homes represented 74% of deliveries, supporting sequential improvement in housing gross margin. Lennar Corporation LEN reported weaker-than-expected third-quarter fiscal 2026 (ended Aug. 31) results. Adjusted earnings of $1.23 per share missed the Zacks Consensus Estimate of $1.29 by 4.7% and fell 38.5% from $2.00 per share a year ago. Lennar's total revenues of $8.05 billion missed the consensus estimate of $8.33 billion by 3.4% and declined 8.6% year over year. Lower deliveries and home prices weighed on results amid affordability pressure. Inventory turn stood at 2.4 times. United Rentals, Inc. URI reported third-quarter 2026 results, with adjusted earnings per share and total revenues beating the Zacks Consensus Estimate and increasing year over year. URI's adjusted earnings of $15.55 per share topped the Zacks Consensus Estimate of $13.83 by 12.4% and grew 32.9% year over year from $11.70 per share. URI's total revenues rose 15.7% year over year to $4.89 billion and surpassed the consensus estimate of $4.69 billion by 4.3%. United Rentals management raised its revenue outlook to $18-$18.2 billion from $17.5-$17.8 billion. Adjusted EBITDA is now projected at $8.3-$8.4 billion compared with $7.98-$8.13 billion previously. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report PulteGroup, Inc. (PHM) : Free Stock Analysis Report KB Home (KBH) : Free Stock Analysis Report Lennar Corporation (LEN) : Free Stock Analysis Report United Rentals, Inc. (URI) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

A month has gone by since the last earnings report for Lennar (LEN). Shares have lost about 2.5% in that time frame, underperforming the S&P 500. But investors have to be wondering, will the recent negative trend continue leading up to its next earnings release, or is Lennar due for a breakout? Well, first let's take a quick look at its latest earnings report in order to get a better handle on the recent catalysts for Lennar Corporation before we dive into how investors and analysts have reacted as of late. Lennar reported weaker-than-expected third-quarter fiscal 2026 (ended Aug. 31) results. The quarter's adjusted earnings and total revenues missed the Zacks Consensus Estimate and declined year over year. Ongoing softness in housing demand, driven by elevated mortgage rates, led to lower deliveries and a weaker average sales price (ASP) for homes delivered, which drove the quarterly decline. Adjusted earnings of $1.23 per share missed the Zacks Consensus Estimate of $1.29 by 4.7% and fell 38.5% from $2.00 per share a year ago. Total revenues of $8.05 billion missed the consensus estimate of $8.33 billion by 3.4% and declined 8.6% year over year. Lower deliveries and home prices weighed on results amid affordability pressure. Inventory turn stood at 2.4 times. Homebuilding revenues decreased 6% year over year to $7.76 billion from $8.25 billion. Home sales revenue fell to $7.73 billion from $8.21 billion, reflecting weaker pricing and fewer closings. Home deliveries declined 3.4% to 20,840 from 21,584 but remained within management's guidance of 20,500-21,500 homes. The ASP of homes delivered decreased 2.9% to $372,000 from $383,000. Management said pricing reflected about 12% in incentives, along with base-price adjustments aimed at sustaining volume. New orders fell 9.2% year over year to 20,879 homes. Their dollar value decreased 11.1% to $7.5 billion from $8.44 billion, while the ASP of new orders declined to $359,000 from $367,000. Backlog slipped 0.6% to 16,857 homes from 16,953. The backlog value declined 4.6% to $6.35 billion from $6.65 billion, while the average sales price in backlog fell to $376,000 from $392,000. Active communities increased to 1,713 from 1,664. Gross margin on home sales contracted to 15.8% from 17.5% a year ago. Lower revenue per square foot and higher land costs contributed to the decline, partly offset by lower construction costs from ongoing cost-saving initiatives. Selling, general and administrative (SG&A) expenses rose to 9.2% of home sales from 8.2%, mainly because of lower revenue leverage and higher marketing and selling costs. Net margin on home sales was 6.6%. Construction cost per square foot improved 6% year over year, while cycle time fell to a record 116 days from 126 days. Financial Services revenues declined to $226.1 million from $314.2 million a year ago. Operating earnings decreased to $129 million from $177 million. The current quarter included $39 million of net one-time items, primarily tied to a litigation accrual reversal following a court judgment. Multifamily revenues fell to $38.5 million from $228.5 million, while its operating loss narrowed to $3 million from $16 million. Lennar Other revenues rose to $22 million from $13.9 million, but the segment posted an $84 million operating loss against $62 million of operating earnings a year ago, largely due to $53 million of mark-to-market losses on technology investments. Homebuilding cash and cash equivalents totaled $1.15 billion at quarter-end. Lennar had $650 million of borrowings outstanding under its $3.1 billion revolving credit facility. Homebuilding debt to total capital was 16.6% compared with 13.5% a year earlier. The company repurchased 3 million shares for $256 million at an average price of $85.49 and redeemed $400 million of 5.25% senior notes due June 2026. Of roughly 488,000 homesites owned and controlled, less than 2.5% were owned on the balance sheet. For the fourth quarter of fiscal 2026, Lennar expects new orders of 19,500-20,500 homes (from 20,018 in the year-ago quarter) and deliveries of 22,000-23,000 homes (from 23,034 in the year-ago quarter). The ASP is projected between $370,000 and $380,000 (from $386,000 in the year-ago quarter). Gross margin on home sales is expected at 15.5-16% (from 17% in the year-ago quarter), while SG&A is projected at 8.7-9% of home sales (from 7.8% in the year-ago quarter). The EPS is expected to be approximately $1.30-$1.65. Management reduced its full-year fiscal 2026 delivery target to about 80,000-81,000 homes from 82,000-83,000, citing continued interest-rate pressure and weaker market conditions. Financial Services operating earnings are forecast at $90-$95 million. It turns out, fresh estimates have trended downward during the past month. The consensus estimate has shifted -26.5% due to these changes. At this time, Lennar has a subpar Growth Score of D, though it is lagging a bit on the Momentum Score front with an F. However, the stock has a score of C on the value side, putting it in the middle 20% for value investors. Overall, the stock has an aggregate VGM Score of F. If you aren't focused on one strategy, this score is the one you should be interested in. Estimates have been broadly trending downward for the stock, and the magnitude of these revisions indicates a downward shift. It's no surprise Lennar has a Zacks Rank #5 (Strong Sell). We expect a below average return from the stock in the next few months. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Lennar Corporation (LEN) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

Lennar Corporation (NYSE:LEN) delivered 20,840 homes in its fiscal Q3 ended August. That was within its own guidance of 20,500 to 21,500 deliveries but fell short of Wall Street expectations. That prompted StoneX to reiterate a Hold rating on Lennar after the results. The brokerage cited misses across deliveries, average selling price, revenue, and earnings. Don't Miss: Jim Cramer Wasn't Hopeful About This Major Homebuilding Stock Lennar's Q3 home deliveries declined 3% to 20,840, and the average selling price fell 3% to $372,000. Consequently, revenue fell 9% YoY to $8.0 billion, and EPS dropped 48% to $1.19. StoneX had expected 21,000 home deliveries at a $376,000 average selling price. It was expecting revenue to come in at $8.2 billion and the EPS to be $1.29. But the results require some context. It is not simply that Lennar missed analysts' estimates. Rather, the company is trying to preserve home sales by making affordability concessions. However, those concessions are weighing on profitability. The company used incentives equal to about 12% of its average selling price in the latest quarter. It also made base-price adjustments. Lennar took these measures to sustain volume in a market where affordability remains a major constraint. That creates a trade-off for the company. Lennar can keep homes moving. But again, the measures needed to make those homes affordable are squeezing profit from each sale. Lennar Corporation (NYSE:LEN) has made operational improvements that could help offset some of the trade-off pressure. It reported that its construction cost per square foot declined 1% sequentially and 6% YoY in the latest quarter. At the same time, cycle time hit a new record low of only 116 days. That was down from 121 days in the previous quarter and 126 days a year ago. Moreover, the company's completed unsold inventory was down to 1.8 homes per community from 2.1 in the prior quarter. The question is whether those efficiencies can offset pricing pressure. Lennar is projecting Q4 deliveries of 22,000 to 23,000, at an average selling price of $370,000 to $380,000. But it expects a gross margin of only 15.5% to 16.0%. Despite Lennar's efforts to support volume, it's clear that affordability and consumer confidence are causing buyers to delay purchases. But Lennar's decision to lower its full-year 2026 delivery target is telling. The company reduced its full-year delivery target to 80,000–81,000 homes, from the previous 82,000–83,000. The target cut reinforces the affordability issue and raises the question about how far Lennar might have to go with incentives just to maintain volume. According to Insider Monkey's database, the number of hedge funds holding Lennar Corporation (NYSE:LEN) has declined steadily in recent quarters. The stock was backed by 65 funds in Q2, down from 66 in Q1 and 68 in Q4. That said, some major funds are accumulating. Warren Buffett's Berkshire Hathaway increased its stake 30% to 13.1 million shares, retaining its position as the largest holder. Greenhaven Associates raised its position 7% to 11.3 million shares. StoneX's Hold rating reflects the uncertainty. Investors are watching to see whether the efficiencies Lennar has sought to develop can help it reduce incentives and rebuild margins without sacrificing sales. While we acknowledge the potential of LEN as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: Netflix (NFLX)'s YouTube Problem Is Becoming Harder to Dismiss and Palo Alto Networks (PANW): Can Platformization Keep Driving Growth?. Disclosure: None. Follow Insider Monkey on Google News.

Interested in Lennar Corporation? Here are five stocks we like better. Lennar missed already-lowered earnings estimates in fiscal Q3 2026, sending shares to a new 52-week low near $76.07. Other major homebuilders, including D.R. Horton and PulteGroup, are reporting similarly weak revenue growth and rising cancellation rates amid affordability pressures. Elevated mortgage rates near 7%, high home prices, and growing resale inventory in states like Florida continue to pressure the broader housing market. Wall Street analysts had already set a relatively low bar for Lennar's (NYSE: LEN) fiscal Q3 2026 earnings, reflecting expectations of continued pressure on the homebuilder amid a challenging housing market. The stock carried a consensus Reduce rating, while analysts expected earnings per share (EPS) of $1.29—about 35% below the year-ago quarter—and revenue of $8.32 billion. But Lennar still fell short, reporting adjusted EPS of $1.23 on revenue of $8.05 billion. → NVIDIA Just Named AI's Next Bottleneck—And These 3 Stocks Sit Right In It Shares responded by falling to a new 52-week low the following day, trading as low as $76.07. The earnings report was a disappointment to shareholders who have endured a more than 25% year-to-date loss, and a one-year loss now exceeding 42%. → These 3 Stocks Under $20 Have Wall Street Looking Past the Share Price But the bigger takeaway is what Lennar’s miss suggests about the broader housing market: affordability pressures, elevated mortgage rates, and rising resale competition are increasingly weighing on even the nation’s largest homebuilders. The earnings call wasn’t without positive takeaways. Lennar delivered 20,840 homes last quarter and improved its gross margin on home sales to 15.8%. Incentives averaged approximately 12.0% of the sales price in Q3, down from 12.9% in Q2, as the company reduced its reliance on rate buydowns, closing-cost assistance, and other buyer incentives. → These 3 Stocks Sit at the Center of NVIDIA’s Cybersecurity Push The company maintains a strong cash position, with $1.2 billion on the books, in addition to $3.6 billion in total liquidity, with 98% of homesites controlled through third-party land arrangements. Lennar also repurchased 3 million shares at a cost of $256 million in Q3, paid $119 million in dividends, and redeemed $400 million in debt. But management was cautious when issuing Q4 guidance, which calls for between 22,000 and 23,000 deliveries, gross margins between 15.5% and 16%, and EPS in a range of $1.30 to $1.65. Notably, the company cautioned that those results remain highly dependent on labor availability, resale competition, volatile rates, and broader market conditions. Those conditions are an immediate and real challenge. Lennar’s disappointing Q3 isn’t an isolated issue. Amid the surge in 10-year bond rates over the past two weeks, homebuilders continue to grapple with 30-year fixed mortgage rates around 7%—less than 100 basis points from the highest levels since 2000—which are eroding potential homebuyers’ purchasing power. Meanwhile, the housing market has largely stagnated as low consumer confidence and affordability issues persist. According to FRED data, the median sales price of new homes in the United States was $410,700 in the second quarter, marking a nearly 30% increase over the median home price in Q2 2020. At the same time, resale inventory—particularly in some of the hottest housing markets in the country like Texas and Florida—continues to increase, thereby creating more competition for homebuilders. After hitting a 10-year low of 35,586 active listings in February 2022, FRED data shows that in August, Florida had nearly 147,000 active listings, marginally down from its 10-year high of 182,593 in April 2025. Lennar’s disappointing Q3 isn’t an isolated issue. Instead, it is part of a larger mosaic of homebuilders all dealing with the same headwinds. When America’s largest homebuilder, D.R. Horton (NYSE: DHI), reported its Q3 results on July 21, year-over-year (YOY) revenue growth was virtually flat at 0.02%. In Q2, that figure was negative 2.27% YOY, while in Q1 it was negative 9.54% YOY. During the company’s earnings call, management highlighted how affordability constraints and cautious consumer sentiment have weighed on demand. D.R. Horton’s Q3 orders were flat YOY, while its cancellation rate rose to 20% from 17% the year prior. PulteGroup (NYSE: PHM) hasn’t fared much better. When it reported Q2 earnings on July 22, revenue of $3.98 billion marked a 9.6% YOY decrease, following a 12.44% drop in Q1. In his earnings call comments, CEO Ryan Marshall noted that “consumer activity was impacted to varying degrees by global tensions, macroeconomic uncertainty, and the material movement in interest rates.” In June, the market was positioning for a potential interest rate cut that could have served as a boon to the housing market. But inflation remained elevated, and the Federal Reserve shifted back toward tightening. At its Sept. 16 FOMC meeting, the central bank announced a 25-basis-point rate hike—its first since 2023. The rate hike reduces the likelihood of near-term relief for homebuilders that had been hoping lower borrowing costs would help revive buyer demand. Lennar is facing many of the same challenges confronting D.R. Horton, PulteGroup, and other major builders, with financing conditions likely to remain a significant headwind. Investors may want to watch mortgage-rate trends, order growth, cancellation rates, and Lennar’s use of incentives for signs that housing demand is beginning to stabilize. The article "Lennar’s Earnings Miss May Be Sending a Bigger Warning About U.S. Housing" was originally published by MarketBeat. View MarketBeat's top stocks for September 2026.

Lennar’s third quarter saw results fall short of Wall Street’s revenue and profit expectations, as higher interest rates and intensifying resale competition pressured both demand and margins. Management attributed the performance to a challenging affordability environment, with CEO Stuart Miller stating, “Interest rates and consumer confidence constrained the improvement that we anticipated going into the quarter.” The company responded by increasing sales incentives and adjusting prices, particularly in its largest markets, Texas and Florida, to maintain sales volumes in a more competitive landscape. Is now the time to buy LEN? Find out in our full research report (it’s free). Revenue: $8.05 billion vs analyst estimates of $8.31 billion (8.7% year-on-year decline, 3.2% miss) Adjusted EPS: $1.23 vs analyst expectations of $1.29 (4.5% miss) Operating Margin: 5.7%, down from 7.9% in the same quarter last year Backlog: $6.3 billion at quarter end, down 4.5% year on year Market Capitalization: $19.16 billion While we enjoy listening to the management’s commentary, our favorite part of earnings calls is the analyst questions. Those are unscripted and can often highlight topics that management teams would rather avoid or topics where the answer is complicated. Here is what has caught our attention. Susan Maklari (Goldman Sachs) asked about the sustainability of improved inventory turns given market headwinds. CEO Stuart Miller stated inventory turns are likely to remain stable until broader market conditions improve, with volume as the key determinant. Trevor Allinson (Wolfe Research) pressed on labor constraints and whether further cost reductions are possible. COO Jim Parker explained that strong trade relationships help maintain cost controls, though labor tightness remains highly geographic. John Lovallo (UBS) questioned the sequential margin guidance given expected increases in deliveries. COO Jim Parker responded that pricing discipline and targeted incentives help offset some margin pressures, but acknowledged the market remains volatile. Stephen Kim (Evercore ISI) inquired about rising inventory value per unit and the impact of land cost on cash flow. CEO Stuart Miller attributed this to legacy land deals and longer option durations, which increase costs through option maintenance fees. Jay McCanless (Citizens Bank) asked about the cost of mortgage rate buydowns and rising resale competition in Texas and Florida. CFO Diane Bessette noted the complexity of quantifying buydown costs due to loan mix, while divisional leaders described resale competition as both a challenge and a potential catalyst for new home demand. In the coming quarters, the StockStory team will closely monitor (1) the impact of interest rate changes on buyer affordability and demand, (2) the pace at which Lennar can work through higher-cost legacy land and replenish its pipeline at lower prices, and (3) competitive dynamics from the resale market, especially in key states like Texas and Florida. Labor availability and progress on operational efficiencies will also be important indicators of future performance. Lennar currently trades at $79.55, up from $78.12 just before the earnings. In the wake of this quarter, is it a buy or sell? Find out in our full research report (it’s free for active Edge members). ALSO WORTH WATCHING: Top 5 Momentum Stocks. The best time to own a great stock is when the market is finally noticing it. These aren’t just high-quality businesses. Something is happening with them right now. Elite fundamentals meet near-term momentum — both boxes checked at the same time. Find out which stocks our AI platform is flagging this week. See this week’s Strong Momentum stocks — FREE. Get Our Strong Momentum Stocks for Free HERE. Stocks that have made our list include now familiar names such as Nvidia (+1,460% between June 2020 and June 2025) as well as under-the-radar businesses like the once-micro-cap company Tecnoglass (+1,552% between June 2020 and June 2025). Find your next big winner with StockStory today.

Homebuilder Lennar (NYSE:LEN) missed Wall Street’s revenue expectations in Q3 CY2026, with sales falling 8.7% year on year to $8.05 billion. Its non-GAAP profit of $1.23 per share was 4.5% below analysts’ consensus estimates. Is now the time to buy LEN? Find out in our full research report (it’s free). Revenue: $8.05 billion vs analyst estimates of $8.31 billion (8.7% year-on-year decline, 3.2% miss) Adjusted EPS: $1.23 vs analyst expectations of $1.29 (4.5% miss) Operating Margin: 5.7%, down from 7.9% in the same quarter last year Backlog: $6.3 billion at quarter end, down 4.5% year on year Market Capitalization: $19.16 billion Lennar’s third quarter saw results fall short of Wall Street’s revenue and profit expectations, as higher interest rates and intensifying resale competition pressured both demand and margins. Management attributed the performance to a challenging affordability environment, with CEO Stuart Miller stating, “Interest rates and consumer confidence constrained the improvement that we anticipated going into the quarter.” The company responded by increasing sales incentives and adjusting prices, particularly in its largest markets, Texas and Florida, to maintain sales volumes in a more competitive landscape. Looking ahead, Lennar’s outlook remains cautious as the company continues to navigate a market shaped by persistent affordability challenges and volatile interest rates. Management emphasized that further improvement depends on relief from high rates and inflation, as well as stabilization in resale supply. CFO Diane Bessette noted, “All of these metrics, of course, are dependent on market conditions.” The company is focused on maintaining even flow production and leveraging its asset-light strategy, but acknowledged that land costs and labor pressures will continue to affect margins and cash flow in the near term. Management attributed the third quarter’s underperformance to a combination of higher borrowing costs, increased competition from resale homes, and rising land expenses, while highlighting cost controls and operational efficiencies. Interest rates pressure affordability: Higher mortgage rates, nearing 7%, have limited the number of buyers who can qualify for a home, particularly at median income levels. Management noted that almost half of visitors in some markets cannot immediately qualify, forcing Lennar to increase sales incentives and adjust pricing to facilitate purchases. Resale market intensifies competition: Resale home listings have grown in key markets like Texas and Florida, leading to more aggressive price competition. CEO Stuart Miller explained that, “When a resale seller cuts price, they are competing directly for our customer, and we respond, which is a meaningful part of the incentive and pricing dynamic.” Land cost remains a key headwind: The company continues to work through land acquired in previous, more favorable market conditions, with land costs now representing the primary drag on margins. Miller emphasized that “land is the one input that we cannot reengineer,” and that lower margins are a deliberate choice to convert this expensive land into cash. Operational efficiencies offset some challenges: Lennar achieved record-low construction cycle times of 116 days and reduced unsold inventory to 1.8 homes per community, helping to partially offset labor shortages and rising input costs. Divisional headcount was reduced 12% year-over-year, increasing deliveries per associate. Asset-light model remains central: The company’s strategy of controlling, rather than owning, the majority of its land (98% controlled, 2% owned) allows for greater balance sheet flexibility and lower risk, especially as market conditions remain uncertain. Management believes this approach positions Lennar well for eventual margin recovery when market conditions improve. Lennar’s management expects the near-term outlook to be driven by continued affordability constraints, volatile interest rates, and ongoing pressure from both land costs and resale competition. Affordability and demand sensitivity: Management sees affordability as the primary limiter of sales volumes, with CEO Stuart Miller highlighting that further progress depends on either lower interest rates, wage growth, or policy action to reduce regulatory barriers. Until then, Lennar will rely on incentives and financing solutions to stimulate demand. Margin compression and land cost drag: The company expects margins to remain under pressure as it works through higher-cost land purchased in a different market environment. These land costs, along with option maintenance fees from extended land bank deals, are seen as the largest ongoing headwind to profitability. Labor and supply chain risks: Tight labor markets, especially in certain geographies, and sporadic immigration enforcement could impact construction timelines and costs. While Lennar’s relationships with trade partners help mitigate some risk, management indicated that labor availability remains a dynamic, market-specific challenge. In the coming quarters, the StockStory team will closely monitor (1) the impact of interest rate changes on buyer affordability and demand, (2) the pace at which Lennar can work through higher-cost legacy land and replenish its pipeline at lower prices, and (3) competitive dynamics from the resale market, especially in key states like Texas and Florida. Labor availability and progress on operational efficiencies will also be important indicators of future performance. Lennar currently trades at $79.54, up from $78.12 just before the earnings. Is there an opportunity in the stock? See for yourself in our full research report (it’s free for active Edge members). WHILE YOU’RE HERE: Top 9 Market-Beating Stocks. The best stocks don’t just beat the market once. They do it again. And again. Robust revenue growth, rising free cash flow, returns on capital that leave their competition in the dust. The market has already rewarded these businesses. But our AI platform says the party isn’t over. Find out which 9 stocks made the cut this week — FREE. Get Our Top 9 Market-Beating Stocks for Free HERE. Stocks that have made our list include now familiar names such as Nvidia (+1,460% between June 2020 and June 2025) as well as under-the-radar businesses like the once-micro-cap company Tecnoglass (+1,552% between June 2020 and June 2025). Find your next big winner with StockStory today.

Lennar shares have been under pressure, and the drop has sharpened a simple question for investors who care about cash generation. With the stock weaker and the housing backdrop more challenging, the issue is whether the current market price lines up with what its future cash flows can realistically support. The share price has fallen 38.8% over the past year, which puts the spotlight firmly on whether that move now matches the cash flow profile of the business. Management has responded to softer demand and higher mortgage rates with more buyer incentives and a lower home delivery target, which can reshape both the timing and the level of future cash flows that any valuation needs to weigh. What if you looked at Lennar through its earnings instead? See why Lennar's 14.3x P/E tells a different valuation story. The issue now is whether Lennar's current share price is justified by the cash flows implied by its Discounted Cash Flow (DCF) intrinsic value estimate. Given the pressure on Lennar's cash flows and share price, it can help to cross-check ideas against a focused list of 33 high quality undervalued stocks. The Discounted Cash Flow (DCF) model here estimates what Lennar could return to shareholders based on its future cash generation. Latest twelve month free cash flow is about $731.5 million, and the forecast path in the model assumes a growing stream of free cash flow over the next decade rather than a decline. Those rising cash flow estimates still lead to an intrinsic value that is meaningfully below the current share price of $76.43, which suggests the market is already pricing Lennar for more optimistic conditions than this cash flow run rate supports. The recent guidance for below-consensus earnings, as higher mortgage rates squeeze affordability, helps explain why the DCF outcome is more conservative than the price implies. Find out what Lennar could be worth using our Discounted Cash Flow (DCF) estimate. Simply Wall St Narratives for Lennar pick up where the DCF puzzle leaves off by spelling out which paths for growth, margins and earnings would need to hold for the stock to be worth materially more or materially less than where it trades today. Each scenario ties a fair value estimate to a clear storyline about Lennar's potential catalysts and key risks so you can later compare the evolving reality with the version of events you had in mind. On Lennar, community views split between those who see the asset light shift as a long term cash engine and those who worry rising incentives and land banking costs keep eroding returns. Bull case: 9% undervalued Discover why this Narrative puts Lennar at 9% undervalued. Bear case: 14% overvalued Explore why this Narrative puts Lennar at 14% overvalued. Price and cash flow only tell part of the story for Lennar, since internal checks also flag specific concerns that could matter to future holders, and those details deserve a closer look. Take a closer look at 1 warning sign before settling on a valuation. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Companies discussed in this article include LEN. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email [email protected]