Lennar (LEN) reports Q3 earnings: What key metrics have to say

Lennar (LEN) reported $8.05 billion in revenue for the quarter ended August 2026, representing a year-over-year decline of 8.7%. EPS of $1.23 for the same period compares to $2.00 a year ago.

The reported revenue compares to the Zacks Consensus Estimate of $8.33 billion, representing a surprise of -3.44%. The company delivered an EPS surprise of -4.65%, with the consensus EPS estimate being $1.29.

While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.

As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.

Here is how Lennar performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

• Backlog - Homes: 16,857 versus the three-analyst average estimate of 16,660.
• Deliveries - Average sales price - Total: $372.00 compared to the $374.58 average estimate based on three analysts.
• Active Communities - Total: 1,713 versus 1,780 estimated by three analysts on average.
• Deliveries - Homes: 20,840 versus 21,439 estimated by three analysts on average.
• New orders - Homes: 20,879 versus the three-analyst average estimate of 21,300.
• Revenue- Homebuilding- Sales of homes: $7.73 billion compared to the $7.9 billion average estimate based on four analysts. The reported number represents a change of -5.8% year over year.
• Revenue- Financial Services: $226.12 million versus the four-analyst average estimate of $246.56 million. The reported number represents a year-over-year change of -28%.
• Revenue- Homebuilding: $7.76 billion compared to the $7.93 billion average estimate based on three analysts. The reported number represents a change of -6% year over year.
• Revenue- Homebuilding- Other homebuilding: $7.47 million compared to the $7.62 million average estimate based on two analysts. The reported number represents a change of -22% year over year.
• Revenue- Lennar Other: $22.03 million versus the two-analyst average estimate of $20.32 million. The reported number represents a year-over-year change of +58%.
• Revenue- Multifamily: $38.48 million versus the two-analyst average estimate of $132.34 million. The reported number represents a year-over-year change of -83.2%.
• Revenue- Homebuilding- Sales of land: $18.44 million versus $21.52 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a -39.6% change.