Homebuilder Lennar Corp (NYSE:LEN) reports second-quarter financial results Thursday after market close and looks to reverse recent downside for the stock.

Here are the earnings estimates and key items to watch.

Lennar Q2 Earnings Estimates

Analysts expect Lennar to report second-quarter revenue of $8.08 billion, down from $8.38 billion, according to data from Benzinga Pro.

The company has beaten analyst estimates for revenue in six of the last 10 quarters, but missed estimates in the most recently reported first quarter.

Analysts expect Lennar to report second-quarter earnings per share of $1.24, down from $1.90 in last year's second quarter.

The company has missed analyst estimates for earnings per share in four straight quarters and missed estimates in five of the last 10 quarters overall.

Read Also: How To Earn $500 A Month From Lennar Stock Ahead Of Q2 Earnings

Key Items to Watch

Among the people watching Lennar's quarterly results will be Berkshire Hathaway (NYSE:BRK) (NYSE:BRK) CEO Greg Abel and Chairman Warren Buffett.

Berkshire Hathaway took a stake in Lennar Class A shares in the second quarter of 2025 and owns Class A and Class B shares. Under Buffett's leadership at the time, Berkshire Hathaway also bought DR Horton shares in the second quarter of 2025, but later sold that homebuilder.

Lennar is now the big homebuilder bet from Berkshire Hathaway, with the conglomerate adding to its position in the first quarter of 2026, the first quarter with Abel as the CEO.

In the first quarter, Lennar posted a double miss with revenue and earnings per share both missing consensus estimates. The company reported that new orders were up only 1% year-over-year to 18,515 homes as well. Deliveries were down 5% year-over-year in the first quarter to 16,863 homes.

The company ended the second quarter with a backlog of 15,588 homes.

Lennar CEO Stuart Miller said the first quarter came with headwinds for the housing market, like high mortgage rates, affordability, and geopolitical uncertainty.

Keefe, Bruyette & Woods recently downgraded the stock from Market Perform to Underperform and lowered the price target from $97 to $86.

Lennar's earnings report could provide clues for investors and analysts on how the housing market is doing and what mortgage rates mean for demand.

Lennar Stock Price Action

Lennar shares were down 1.62% at $91.06 on Wednesday versus a 52-week trading range of $81.18 to $144.24. Lennar stock is down 11.8% year-to-date in 2026 and down 20.1% over the last 52 weeks. The stock trades near a three-year low.

Read Also: Mortgage Rates Hit Five-Week Highs—But Homebuyers Are Returning, Boosting Home Depot, Lowe's And Other Builders

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