Lennar Corporation's net earnings attributable to Lennar for the second quarter of 2026 were $304.8 million, or $1.24 per diluted share, a decrease from $477.4 million, or $1.81 per diluted share, in the second quarter of 2025. Total revenues for the second quarter of 2026 were $7.94 billion, down from $8.38 billion in the same period last year. Homebuilding revenues decreased by 2% to $7.62 billion, primarily due to a 5% decrease in the average sales price of homes delivered, partially offset by a 2% increase in home deliveries. Gross margins on home sales were 15.6% in Q2 2026, down from 17.8% in Q2 2025, attributed to lower revenue per square foot and higher land costs, despite cost-saving initiatives. Selling, general, and administrative expenses as a percentage of home sales revenue increased to 9.2% from 8.8% year-over-year. The company expects new orders for the third quarter of 2026 to be between 21,000 and 22,000 homes, with deliveries projected between 20,500 and 21,500 homes. Full-year delivery guidance has been adjusted to 82,000 to 83,000 homes. The company is focused on driving consistent production and refining its asset-light, land-light balance sheet model.