Removed · Outlook

Lennar's first quarter 2026 results reflect what remains a stubbornly challenging housing market. While margins continue to reflect the affordability-driven realities facing today's homebuyers, our underlying demand remains strong and supply continues to fall short of need. Throughout this period of market difficulty, we have remained focused on our clear and consistent strategy. We drove consistent volume and we matched production and sales pace. We used margin as a circuit breaker, and we continued to refine and improve our asset-light, land-light manufacturing platform. We have maintained volume and focused on building improved business programs to bring costs down so that we can remain profitable and still provide the much-needed housing supply America demands.