Update: Lennar Fiscal Shares Fall After Q3 Adjusted Earnings, Revenue Miss Analysts' Expeactions

05:12 PM EDT, 09/16/2026 (MT Newswires) -- (Updates to add share movement in first paragraph and headline and adds 12% incentives in 6th paragraph) Lennar (LEN) shares fall 3.5% after it reported fiscal Q3 adjusted earnings late Wednesday of $1.23 per diluted share, down from $2 a year earlier. Analysts polled by FactSet expected $1.28. Revenue for the three months ended Aug. 31 was $8.05 billion, down from $8.81 billion a year earlier. Analysts expected $8.32 billion. For fiscal Q4, the company expects new orders of 19,500 to 20,500 and deliveries of 22,000 to 23,000. The company reported an average sales price of $372,000, reflecting roughly 12.0% in incentives and base price adjustments needed to sustain volume amid persistent affordability constraints.