Track market-moving stories before they get noisy

Have you evaluated the performance of International Flavors' (IFF - Free Report) international operations during the quarter that concluded in March 2026? Considering the extensive worldwide presence of this ingredients producer for food, cosmetics and consumer products industries, analyzing the patterns in international revenues is crucial for understanding its financial resilience and potential for growth.

In today's increasingly interconnected global economy, a company's ability to tap into international markets can be a pivotal factor in shaping its overall financial health and growth trajectory. For investors, understanding a company's reliance on overseas markets has become increasingly crucial, as it offers insights into the company's sustainability of earnings, ability to tap into diverse economic cycles and overall growth potential.

Participation in global economies acts as a defense against economic difficulties at home and a pathway to more rapidly developing economies. However, it also comes with the complexities of dealing with fluctuating currencies, geopolitical risks and different market dynamics.

While delving into IFF's performance for the past quarter, we observed some fascinating trends in the revenue from its foreign segments that are commonly modeled and observed by analysts on Wall Street.

The recent quarter saw the company's total revenue reaching $2.74 billion, marking a decline of 3.6% from the prior-year quarter. Next, we'll examine the breakdown of IFF's revenue from abroad to comprehend the significance of its international presence.

A Dive into IFF's International Revenue TrendsEurope, Africa and Middle East accounted for 34.6% of the company's total revenue during the quarter, translating to $949 million. Revenues from this region represented a surprise of +3.34%, with Wall Street analysts collectively expecting $918.31 million. When compared to the preceding quarter and the same quarter in the previous year, Europe, Africa and Middle East contributed $889 million (34.3%) and $952 million (33.5%) to the total revenue, respectively.

Of the total revenue, $348 million came from Latin America during the last fiscal quarter, accounting for 12.7%. This represented a surprise of -1.02% as analysts had expected the region to contribute $351.57 million to the total revenue. In comparison, the region contributed $343 million, or 13.3%, and $353 million, or 12.4%, to total revenue in the previous and year-ago quarters, respectively.

Greater Asia generated $656 million in revenues for the company in the last quarter, constituting 23.9% of the total. This represented a surprise of +5.58% compared to the $621.35 million projected by Wall Street analysts. Comparatively, in the previous quarter, Greater Asia accounted for $612 million (23.6%), and in the year-ago quarter, it contributed $670 million (23.6%) to the total revenue.

Revenue Forecasts for the International MarketsWall Street analysts expect International Flavors to report a total revenue of $2.73 billion in the current fiscal quarter, which suggests a decline of 1.1% from the prior-year quarter. Revenue shares from Europe, Africa and Middle East, Latin America and Greater Asia are predicted to be 34%, 13%, and 23%, corresponding to amounts of $928.87 million, $355.61 million, and $628.5 million, respectively.

For the full year, a total revenue of $10.7 billion is expected for the company, reflecting a decline of 1.7% from the year before. The revenues from Europe, Africa and Middle East, Latin America and Greater Asia are expected to make up 34.3%, 13.1%, and 23.2% of this total, corresponding to $3.67 billion, $1.4 billion, and $2.48 billion, respectively.

Key TakeawaysInternational Flavors' reliance on international markets for revenues offers both opportunities and risks. Hence, keeping an eye on its international revenue trends could significantly help forecast the company's prospects.

In an era of growing international ties and escalating geopolitical disputes, financial analysts on Wall Street pay keen attention to these developments to fine-tune their earnings estimations for businesses operating across borders. It's important to note, however, that a range of additional variables, like a company's local market status, also play a crucial role in shaping these forecasts.

We at Zacks strongly focus on the dynamic earnings forecast of companies, given that empirical studies have demonstrated its potent impact on the immediate price movement of stocks. Invariably, there's a positive relationship -- upward earnings predictions often result in an increase in stock prices.

The Zacks Rank, our proprietary stock rating tool, comes with an externally validated impressive track record. It effectively utilizes shifts in earnings projections to act as a dependable barometer for forecasting short-term stock price trends.

At the moment, International Flavors has a Zacks Rank #3 (Hold), signifying that its performance may align with the overall market trend in the upcoming period. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .

Exploring Recent Trends in Stock PriceThe stock has witnessed an increase of 11.8% over the past month versus the Zacks S&P 500 composite's an increase of 9.1%. In the same interval, the Zacks Basic Materials sector, to which International Flavors belongs, has registered an increase of 0.7%. Over the past three months, the company's shares saw a decrease of 2.4%, while the S&P 500 increased by 7.1%. In comparison, the sector experienced an increase of 1.6% during this timeframe.

-

Furthering IFF’s leadership in natural ingredients for perfumery.

GRASSE, France--(BUSINESS WIRE)--LMR Naturals by IFF—a global leader in natural ingredients for perfumery, cosmetics and flavors—today inaugurated its new experimental field, Domaine des Naturels LMR. The field is dedicated to advancing research in natural ingredients, preserving Grasse’s agricultural heritage and expanding education in naturals. The inauguration, attended by Grasse Mayor Jérôme Viaud, a long-standing supporter of the perfume industry, underscores IFF and LMR’s ongoing commitment to the region.

“This inauguration reflects over two decades of continuous investment in Grasse and in naturals,” said Ana Paula Mendonça, president, Scent, IFF. “With Domaine des Naturels LMR, we are bringing together innovation, preservation and knowledge sharing to shape the next chapter of natural ingredients, powered by deep scientific expertise and a truly global innovation network. What matters most is what this unlocks for our customers: more creative freedom, more distinctive ingredients, and ultimately true differentiation.”

Driving sustainable innovation in naturals
The 1.8-hectare experimental field operates as an integrated research and development platform. Located near LMR’s Grasse headquarters and its high-end creation site, L’Atelier du Parfumeur, Domaine des Naturels LMR enables a seamless approach from seed to fragrance.

Sabrya Meflah, president of fine fragrance, Scent, IFF, said, “The Domaine des Naturels LMR is a fantastic creative playground for our artists of perfumery to find inspiration and invent the signatures of tomorrow, building on our unique Grasse and global innovation ecosystem.”

Acquired by IFF in 2025, the field builds on the legacy of pioneering farmer Constant Viale, its former owner. Domaine des Naturels LMR maintains a collection of endemic species, including rose, jasmine, tuberose, iris, narcissus and olive trees. Combining traditional cultivation methods with advanced agronomic approaches, LMR continues to protect and develop Grasse’s distinctive know-how. Terraced farming, organic practices and biodiversity initiatives help preserve both the landscape and its ecological balance.

The experimental field allows local teams to explore plant varieties, refine cultivation techniques and assess bio-based inputs under real-world conditions. By integrating agronomy, extraction and perfumery—supported by a multidisciplinary team of more than 10 botanical experts—LMR enhances its ability to design, validate and scale distinctive natural raw materials while supporting more resilient agricultural systems. With a comprehensive approach to sustainability, the field includes diversified water sourcing, support for pollinators and the development of habitats for local wildlife, further strengthening LMR’s long-standing commitment to environmental stewardship.

Stewardship and education
Domaine des Naturels LMR also serves as an immersive environment dedicated to natural ingredients education, offering customers, partners and perfumers direct insight into the realities of sourcing and cultivating natural materials.

The site will gradually host the LMR Naturals Academy, with training programs and hands-on experiences to deepen expertise and ensure the transmission of this specialized knowledge.

“By bringing together innovation, heritage and education, LMR Naturals by IFF continues to shape what comes next for naturals,” said Bertrand de Préville, general manager of LMR Naturals by IFF. “We’re anchored in Grasse, connected to a global network and driven by a long-term vision.”

Since acquiring LMR Naturals in 2000, IFF has steadily invested in Grasse. Building on the pioneering vision of LMR founder Monique Rémy, this sustained commitment continues to elevate standards in natural ingredients by blending science, agriculture and the art of perfumery. It also anchors Grasse within a global research network spanning Brazil, the United States, Asia and beyond, enabling knowledge generated at Domaine des Naturels LMR to extend across IFF’s 14 innovation platforms worldwide.

About LMR Naturals by IFF
Founded in 1983 by Monique Rémy and acquired by IFF in 2000, LMR Naturals is a trademarked capability within IFF dedicated to the development of high‑quality, innovative and sustainably sourced natural ingredients. LMR Naturals supports perfumers worldwide with a broad portfolio of naturals across fine fragrance, beauty, personal care, home care and flavorists with taste applications. For more information, visit https://www.iff.com/scent/lmr-naturals/.

Welcome to IFF
At IFF (NYSE: IFF), we make joy through science, creativity and heart. As the global leader in taste, scent, food ingredients, health and biosciences, we’re innovating for the future. Every day, we deliver groundbreaking, sustainable solutions that elevate products people love—advancing wellness, delighting the senses and enhancing the human experience. Learn more at iff.com, LinkedIn, Instagram and Facebook.

© 2026 by International Flavors & Fragrances Inc. IFF is a Registered Trademark. All Rights Reserved

More News From International Flavors & Fragrances

Back to Newsroom

A sale of IFF's largest division would be the company's latest move to boost profitability.

IFF (NYSE: IFF), a global leader in flavors, fragrances, food ingredients, and health and biosciences, today announced that it has entered into an agreement to sell its Food Ingredients business to funds advised by CVC Capital Partners, a leading global private markets manager, in a transaction that values the business at approximately $4.3 billion, representing an enterprise value-to-EBITDA multiple of approximately 10x. As part of the transaction, IFF has chosen to retain an approximately 10% minority equity interest in the business, or approximately $200 million, permitting continued collaboration and cooperation between IFF and Food Ingredients and allowing IFF and its shareholders to participate in future value creation under its new ownership.

The transaction marks a significant step in IFF’s portfolio transformation and is expected to strengthen the company’s focus on its innovation-driven businesses: Taste, Scent, and Health & Biosciences. Following the transaction, IFF will be a more focused company with improved cash flow characteristics, greater financial flexibility, and a stronger position to achieve its growth and profitability objectives.

“This transaction represents an important strategic milestone in our ongoing portfolio optimization initiative, allowing us to further concentrate resources on our higher-growth, higher-margin segments,” said Erik Fyrwald, CEO of IFF. “By simplifying our portfolio to where we can create the greatest value, IFF will accelerate innovation, drive investment in R&D, and further integrate our biotechnology and naturals capabilities more effectively across our global platform. Importantly, by retaining a minority stake in Food Ingredients, we will continue to participate in the future upside of a strong business under dedicated ownership. This transaction creates substantial value for shareholders while positioning IFF to drive sustained, profitable long-term growth.”

IFF’s Food Ingredients business is a globally recognized leader in texturants, emulsifiers, plant-based solutions, and other specialty ingredients serving multinational food and beverage customers. In 2025, the Food Ingredients business that will be divested generated nearly $3.1 billion in annual sales and approximately $430 million of EBITDA.

“We are proud of the strong market positions, customer relationships, and talented team that have made Food Ingredients a strong business,” Fyrwald added. “We are confident CVC is the right owner for its next chapter and that this transaction creates significant value for IFF shareholders while giving Food Ingredients an excellent platform for future success.”

“We are delighted to welcome IFF’s Food Ingredients business to CVC’s U.S. portfolio,” said Lorne Somerville, managing partner and co-head of North American private equity at CVC. “The business has built a strong position in an attractive, resilient sector supported by long-term growth trends, including increasing global food consumption and demand for clean-label products. Its global reach and proprietary technical capabilities provide a clear competitive advantage, and we see significant opportunity for continued growth.”

James Christopoulos, partner at CVC, added: “The Food Ingredients management team has done an exceptional job building a business with meaningful scale and technical depth. We look forward to partnering with the team and with IFF as co-shareholders to accelerate the next phase of growth through scale and commercial expansion.”

Transaction Benefits and Portfolio Positioning

Over the last several years, IFF has taken decisive action to simplify its portfolio, sharpen strategic focus, and strengthen its financial foundation. Including this transaction, IFF has divested 13 non-core businesses, generating nearly $10 billion in gross proceeds, which have supported balance sheet improvement and reinvestment in the company’s highest-return businesses.

Upon completion of the Food Ingredients transaction, IFF will be centered on three market-leading businesses serving attractive end markets supported by long-term megatrends in health, well-being, food, and sustainability. Each business is well positioned for strong revenue and EBITDA growth opportunities and powered by shared naturals and biosciences capabilities:

Taste: Unique, technology-enabled flavor solutions for global food and beverage customers Scent: Leading positions in fine fragrance, consumer fragrance across personal and home care categories, and fragrance ingredients Health & Biosciences: Innovation-led solutions spanning probiotics, enzymes, cultures, and bioactive health ingredients With a more streamlined portfolio, IFF expects to be better positioned to accelerate innovation, improve execution, enhance free cash flow conversion, and deliver a stronger long-term financial profile. Over time, in a normalized environment, IFF expects to achieve mid-single-digit revenue growth and high-single-digit adjusted EBITDA growth, underpinned by the differentiated and innovation-led nature of its remaining business.

Use of Proceeds and Financial Impact

IFF expects to receive net cash proceeds of approximately $3.8 billion at closing, reflecting the rolled-over equity, customary purchase price adjustments, costs incurred to stand up and carve out the business and taxes. The company intends to prioritize use of proceeds toward:

Debt reduction to accelerate deleveraging and reinforce balance sheet strength Targeted share repurchases, as authorized by the Board of Directors Reinvestment in high-return growth and high-return opportunities across the core portfolio The transaction is expected to be dilutive to adjusted EPS in the first 12 months following closing, prior to the benefits from capital deployment and any actions to address stranded overhead costs. IFF believes the strategic and financial benefits of a more focused portfolio, stronger balance sheet and improved cash generation profile outweigh the near-term earnings impact. Furthermore, the company has implemented a plan to address all of the stranded overhead costs that are a consequence of the transaction. IFF is also reiterating its previously communicated full-year 2026 guidance ranges. The company expects full year 2026 sales to be in the range of $10.5 billion to $10.8 billion and full year 2026 adjusted operating EBITDA to be in the range of $2.05 billion to $2.15 billion. IFF continues to expect comparable currency neutral sales growth to be between 1% to 4%, and comparable currency neutral adjusted operating EBITDA growth to be 3% to 8%.

Transaction Details

The transaction is expected to close by the end of the second quarter of 2027, subject to applicable information and/or consultation requirements and customary closing conditions, including regulatory approvals, where required. As part of the retained 10% equity interest, IFF will also hold a board seat in the new company.

J.P. Morgan Securities LLC (lead) and BofA Securities are serving as IFF’s financial advisors, and Skadden, Arps, Slate, Meagher & Flom LLP & Affiliates is serving as legal advisor.

Cautionary Statement Under The Private Securities Litigation Reform Act of 1995

This press release includes statements that are “forward-looking statements” within the meaning of The Private Securities Litigation Reform Act of 1995. Such forward-looking statements are based on management’s current assumptions, estimates and expectations, including with respect to our financial and operational outlook (sales, adjusted operating EBITDA and cash flow), portfolio optimization initiatives (including the anticipated closing date of the sale of our Food Ingredients division), pricing, productivity and cost-discipline actions, capital allocation, future operations, growth potential, strategic investments and the expected effects of foreign exchange. These statements reflect management’s present views, are based on a series of expectations, assumptions, estimates and projections about the company, are subject to change, and involve uncertainties that could cause actual results to differ materially.

Certain of such forward-looking information may be identified by such terms as “expect”, “anticipate”, “believe”, “intend”, “outlook”, “may”, “will”, “would”, “estimate”, “should”, “predict”, “plan”, “project”, “could”, “potential”, “seek”, “target”, “continue”, “future”, and similar terms or variations thereof. These statements are not guarantees of future performance and are subject to risks and uncertainties that could lead to materially different outcomes.

Such risks, uncertainties and other factors include, among others, the following: (1) demand trends, competitive dynamics and customer concentration in our end markets; (2) execution of our strategic transformation and other strategic transactions, divestitures, acquisitions, collaborations and joint ventures; (3) working capital and inventory management; (4) outcomes of legal claims, disputes, regulatory investigations and litigation; (5) tariffs and trade actions, supply chain disruptions and macro events, including geopolitical developments, climate events, natural disasters, public health crises; (6) 4 volatility in input costs (such as raw materials, transportation and energy); (7) attraction, retention and turnover of key employees and executives; (8) product innovation, time-to-market, product safety and quality; (9) cybersecurity incidents, artificial intelligence related risks, data privacy and compliance with data protection laws; (10) exposure to emerging markets, foreign currency fluctuations and international regulatory and political risks; (11) capital allocation, dividend policy and potential impairments of tangible or intangible assets; (12) our indebtedness, credit rating, liquidity, and access to capital; (13) pension and postretirement obligations; (14) compliance with federal, state, local and international rules and regulations, and regulatory, environmental, anti-corruption and sanctions laws and related ethical business practices; (15) protection and enforcement of intellectual property; (16) changes in tax laws and policies, tax audits and outcomes, including potential tax liabilities related to prior transactions; and (17) changes in federal, state, local and international rules and regulations.

The foregoing list of important factors does not include all such factors, nor necessarily present them in order of importance. Important factors are described under “Risk Factors” in our most recent Annual Report on Form 10-K and in our subsequent filings with the SEC, and those disclosures are incorporated herein by reference.

We intend our forward-looking statements to speak only as of the time of such statements and do not undertake or plan to update or revise them as more information becomes available or to reflect changes in expectations, assumptions or results, whether as a result of new information, future events or otherwise. We can give no assurance that such expectations or forward-looking statements will prove to be correct. An occurrence of, or any material adverse change in, one or more of the risk factors or risks and uncertainties referred to in this press release or included in our other periodic reports filed with the SEC could materially and adversely impact our operations and our future financial results.

Any public statements or disclosures made by us following this press release that modify or impact any of the forward-looking statements contained in or accompanying this press release will be deemed to modify or supersede such outlook or other forward-looking statements in or accompanying this press release.

Use of Non-GAAP Financial Measures

We provide in this press release non-GAAP financial measures, including: (i) comparable currency neutral sales; and (ii) adjusted operating EBITDA and comparable currency neutral adjusted operating EBITDA.

Our non-GAAP financial measures are defined below.

Currency Neutral metrics eliminate the effects that result from translating non-U.S. currencies to U.S. dollars. We calculate currency neutral numbers by translating current year invoiced sale amounts at the exchange rates used for the corresponding prior year period. We use currency neutral results in our analysis of segment performance. We also use currency neutral numbers when analyzing our performance against that of our competitors.

Comparable results exclude the impact of divestitures.

Adjusted operating EBITDA and adjusted operating EBITDA margin exclude depreciation and amortization, interest expense, other expense, net, and certain non-recurring or unusual items that are not part of recurring operations such as impairment of goodwill, restructuring and other charges, divestiture costs, strategic initiatives costs, regulatory costs and other items.

These non-GAAP measures are intended to provide additional information regarding our underlying operating results and comparable year-over-year performance. Such information is supplemental to information presented in accordance with GAAP and is not intended to represent a presentation in accordance with GAAP. In discussing our historical and expected future results and financial condition, we believe it is meaningful for investors to be made aware of and to be assisted in a better understanding of, on a period-to-period comparable basis, financial amounts both including and excluding these identified items, as well as the impact of exchange rate fluctuations. These non-GAAP measures should not be considered in isolation or as substitutes for analysis of the Company’s results under GAAP and may not be comparable to other companies’ calculation of such metrics.

The Company cannot reconcile its expected adjusted operating EBITDA under “Use of Proceeds and Financial Impact” without unreasonable effort because certain items that impact net income and other reconciling metrics are out of the Company's control and/or cannot be reasonably predicted at this time. These items include but are not limited to divestiture costs, gains (losses) on business disposals, and regulatory costs.

Welcome to IFF

At IFF (NYSE: IFF), we make joy through science, creativity and heart. As the global leader in flavors, fragrances, food ingredients, health and biosciences, we deliver groundbreaking, sustainable innovations that elevate everyday products—advancing wellness, delighting the senses and enhancing the human experience.Learn more at iff.com, LinkedIn, Instagram and Facebook.

About CVC

CVC is a leading global private markets manager with a network of 29 office locations throughout EMEA, the Americas, and Asia, with approximately €209 billion of assets under management. CVC has seven complementary strategies across private equity, secondaries, credit and infrastructure, for which CVC funds have secured commitments of over €257 billion from some of the world's leading pension funds and other institutional investors. Funds managed or advised by CVC’s private equity strategy are invested in approximately 150+ companies worldwide, which have combined annual sales of over €240 billion and employ over 660,000 people. For further information about CVC please visit: https://www.cvc.com/. Follow us on LinkedIn.

© 2026 by International Flavors & Fragrances Inc. IFF is a Registered Trademark. All Rights Reserved.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260529975821/en/

Key Takeaways IFF agreed to sell its Food Ingredients business to CVC Capital Partners for $4.3 billion.IFF expects $3.8 billion in net cash proceeds for debt reduction, buybacks and growth investments.IFF says that the sale sharpens focus on higher-growth businesses and supports long-term growth goals. International Flavors & Fragrances Inc. (IFF - Free Report) announced that it inked a deal with CVC Capital Partners to sell its Food Ingredients business. The deal is in sync with International Flavors’  portfolio transformation strategy, which is expected to solidify its focus on its innovation-driven businesses.

IFF’s Benefits From the DealThe Food Ingredients business generated $3.1 billion in 2025 with $430 million of EBITDA. The deal values the business at $4.3 billion, which represents an enterprise value of about 10X its EBITDA. International Flavors has decided to retain around 10% minority equity interest in the business to allow its shareholders to participate in future value creation under its new ownership.

At closing, International Flavors will receive net cash proceeds of $3.8 billion. The company aims to use the cash proceeds for debt reduction, targeted share repurchases, and reinvestment in high-return growth and high-return opportunities across the core portfolio.

IFF expects the deal to close by the end of the second quarter of 2027, subject to closing conditions.

International Flavors’ Focus on Portfolio TransformationIFF has been actively simplifying and sharpening its portfolio over the past several years. The sale of the Food Ingredients business marked the divestment of 13 non-core businesses for International Flavors. These sales generated about $10 billion in gross proceeds, supporting the company’s balance sheet improvement.

The sale of the Food Ingredients business will help International Flavors concentrate resources on its higher-growth, higher-margin segments. The company will center its operations around three industry-leading businesses that target high-growth markets, driven by global trends in health, well-being, food and sustainability.

The company expects long-term revenue growth in the mid-single digits and adjusted EBITDA growth in the high-single digits. The upside will be driven by the differentiated and innovation-led nature of its core business.

IFF Stock’s Price PerformanceIn the past year, the company’s shares have gained 2.9% compared with the industry’s growth of 3.3%.

Image Source: Zacks Investment Research

International Flavors’ Zacks Rank & Stocks to ConsiderIFF currently carries a Zacks Rank #3 (Hold).

Some better-ranked stocks from the basic materials space are Albemarle Corporation (ALB - Free Report) , Air Products and Chemicals, Inc. (APD - Free Report) and Avino Silver & Gold Mines Ltd. (ASM - Free Report) . ALB sports a Zacks Rank #1 (Strong Buy) at present, and APD and ASM carry a Zacks Rank of 2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Albemarle has an average trailing four-quarter earnings surprise of 74.5%. The Zacks Consensus Estimate for the company’s 2026 earnings is pegged at $12.45 per share, indicating year-over-year growth from a loss of 79 cents. ALB shares have skyrocketed 203.1% so far this year.

The Zacks Consensus Estimate for Air Products and Chemicals’ current-year earnings is pegged at $13.20 per share, indicating a 9.7% year-over-year rise. APD has an average trailing four-quarter earnings surprise of 2.9%. Air Products and Chemicals’ shares have gained 10.1% in a year.

Avino Silver has an average trailing four-quarter earnings surprise of 125%. The Zacks Consensus Estimate for Avino Silver’s 2026 earnings is pegged at 39 cents per share, indicating 34.5% year-over-year growth. Its shares soared 113.4% in a year.

-

Driving growth for high-performance, sustainable solutions, while enabling customers to avoid 27.2 million metric tons of CO₂e emissions

NEW YORK--(BUSINESS WIRE)--IFF (NYSE: IFF) — a global leader in flavors, fragrances, food ingredients and health & biosciences — released its 2025 Do More Good Report, highlighting the company’s commitment to creating better products and experiences for people and the planet. IFF’s increasingly nature-based portfolio underscores the central role of sustainability and positions its innovation at the intersection of biology and chemistry. Through continued investment in R&D, expanded global innovation partnerships and measurable impact across the value chain, the report demonstrates how IFF is reducing environmental impact while delivering differentiated performance and long-term value for customers and consumers.

“IFF’s 2025 Do More Good Report shows clear progress in advancing nature-based solutions and strengthening our portfolio,” said Erik Fyrwald, CEO of IFF. “We continue sharpening our focus on high-value, science-led growth and winning with customers by delivering differentiated solutions that accelerate their success.”

This year’s report features key accomplishments across the organization and the impact of IFF’s innovation through four core pillars aligned with the report’s theme, “The Science of Possible”: Conscious Sourcing, Intentional Innovation, Operating for the Future and Partnerships of Impact. The report includes advances in nature-based ingredients, biodegradable encapsulation technologies such as ENVIROCAP and next-generation biomaterials, as well as targeted partnerships that strengthen supply resilience and innovation at origin — from sustainable vanilla sourcing in Madagascar to applied citrus research in Florida and forest-based fragrance development in Brazil.

Key highlights from the 2025 Do More Good Report include:

Customer-centric sustainability: IFF-enabled products helped avoid 27.2 million metric tons of carbon dioxide equivalent emissions in 2025 — 19.2 times more than the company’s own manufacturing emissions. Innovation for impact: About 77% of new products launched between 2023–25 had a sustainability value proposition in support of people and planet, according to our internal Innovation for Sustainability Assessment Tool. Advancing supply chain sustainability: Seventy natural ingredients were certified For Life by ECOCERT, supporting conservation and improving farmer livelihoods. Operational excellence: The company’s safety performance achieved a 21% reduction in its total recordable incident rate from the prior year. In addition, 100% of employees completed business ethics training. IFF’s sustainability leadership continues to be recognized by top global benchmarks like Dow Jones Best In Class Indices (North America), 2025 EcoVadis Gold, CDP Climate A List, USA TODAY’s America’s Climate Leaders 2025, and Newsweek’s America’s Most Responsible Companies 2025, among many others. Explore the full 2025 Do More Good Report.

Welcome to IFF
At IFF (NYSE: IFF), we make joy through science, creativity and heart. As the global leader in taste, scent, food ingredients, health and biosciences, we’re innovating for the future. Every day, we deliver groundbreaking, sustainable solutions that elevate products people love — advancing wellness, delighting the senses and enhancing the human experience. Learn more at iff.com, LinkedIn, Instagram and Facebook.

©2026 International Flavors & Fragrances Inc. (IFF). IFF, the IFF Logo, and all trademarks and service marks denoted with ™, SM or ® are owned by IFF or affiliates of IFF unless otherwise noted. All Rights Reserved.

More News From IFF

Back to Newsroom

Wall Street heads into a big week after a sharp selloff rattled investors, with inflation data, Apple's annual developer conference and the highly anticipated SpaceX initial public offering set to dominate market attention.

Stocks ended last week under pressure after a stronger-than-expected US jobs report fueled concerns that the Federal Reserve may need to keep interest rates higher for longer. The Nasdaq suffered its biggest one-day decline in a year on Friday, falling nearly 5%, while the S&P 500 snapped a nine-week winning streak.

The spotlight now turns to Wednesday's Consumer Price Index report, which is expected to show inflation accelerating in May. Economists forecast annual headline CPI to rise to around 4.2%, while core inflation is expected to edge higher to 2.9%. Thursday's Producer Price Index report will provide another gauge of price pressures facing the economy.

"A hotter-than-expected CPI release could trigger another selloff in stocks, while a cooler reading could see stocks bounce sharply,” said Kathleen Brooks, research director at XTB.

The inflation reports arrive after May payrolls increased by 172,000, well above expectations, reinforcing the view that the US economy remains resilient despite elevated borrowing costs. Deutsche Bank said the latest labor market data showed little evidence of deterioration and suggested Federal Reserve officials may become increasingly focused on inflation risks rather than employment concerns.

Rising inflation expectations have already prompted a dramatic shift in rate forecasts. Markets are now pricing in a meaningful possibility of another Fed rate hike before year-end, helping push Treasury yields sharply higher and weighing on high-growth technology shares.

Investors will also be watching Apple Inc (NASDAQ:AAPL, XETRA:APC)'s Worldwide Developers Conference, which begins Monday. The event is expected to feature updates to Apple Intelligence, Siri and the company's broader artificial intelligence strategy. With Apple facing increasing scrutiny over its AI progress compared with rivals, the conference could prove a key catalyst for the stock.

The technology sector will remain under the microscope throughout the week. Earnings from Oracle Corp (NYSE:ORCL, XETRA:ORC), Adobe Inc (NASDAQ:ADBE) and homebuilder Lennar Corp (NYSE:LEN) are expected to provide fresh insight into enterprise software demand and housing market conditions.

Meanwhile, capital markets are preparing for one of the largest public offerings in history. SpaceX is expected to begin trading on Friday after seeking to raise approximately $75 billion at a valuation approaching $1.8 trillion. The deal is widely viewed as a major test of investor appetite for high-profile growth companies following recent volatility in the technology sector.

Despite the market's recent pullback, Brooks said demand for the offering is likely to remain strong.

"Even with the selloff in tech, we still expect the SpaceX IPO later this week to generate much excitement," she said, adding that investors increasingly appear willing to buy into long-term growth themes rather than traditional business models alone.

With inflation concerns, interest rate expectations and major corporate events all converging, analysts say the coming week could help determine whether last week's market selloff proves to be a temporary pause or the beginning of a broader rotation away from technology and toward sectors expected to benefit from stronger growth and persistent inflation.

Lennar Corporation (NYSE:LEN) will release earnings for its second quarter after the closing bell on Thursday, June 11.

Analysts expect the home construction company to report quarterly earnings of $1.24 per share. That’s down from $1.90 per share in the year-ago period. The consensus estimate for Lennar's quarterly revenue is $8.07 billion. It reported $8.38 billion last year, according to Benzinga Pro.

With the recent buzz around Lennar, some investors may be eyeing potential gains from the company's dividends too. As of now, Lennar has an annual dividend yield of 2.16%. Its quarterly dividend amount is 50 cents per share ($2.00 a year). So, how can investors exploit its dividend yield to pocket a regular $500 monthly?

To earn $500 per month or $6,000 annually from dividends alone, you would need an investment of approximately $277,680 or around 3,000 shares. For a more modest $100 per month or $1,200 per year, you would need $55,536 or around 600 shares.

To CalculateDivide the desired annual income ($6,000 or $1,200) by the dividend ($2.00 in this case). So, $6,000 / $2.00 = 3,000 ($500 per month), and $1,200 / $2.00 = 600 shares ($100 per month).

Note that dividend yield can change on a rolling basis, as the dividend payment and the stock price both fluctuate over time.

How that works: The dividend yield is computed by dividing the annual dividend payment by the stock’s current price.

For example, if a stock pays an annual dividend of $2 and is currently priced at $50, the dividend yield would be 4% ($2/$50). However, if the stock price increases to $60, the dividend yield drops to 3.33% ($2/$60). Conversely, if the stock price falls to $40, the dividend yield rises to 5% ($2/$40).

Similarly, changes in the dividend payment can impact the yield. If a company increases its dividend, the yield will also increase, provided the stock price stays the same. Conversely, if the dividend payment decreases, so will the yield.

Lennar Price ActionShares of Lennar gained 2% to close at $92.56 on Tuesday.

Ahead of quarterly earnings, Keefe, Bruyette & Woods analyst Jade Rahmani, on Tuesday, downgraded Lennar from Market Perform to Underperform and lowered the price target from $97 to $86.

Photo via Shutterstock

Market News and Data brought to you by Benzinga APIs

© 2026 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

To add Benzinga News as your preferred source on Google, click here.

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 EstimatesAnalysts 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.

Key Items to WatchBerkshire 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 ActionLennar 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.

Photo: Shutterstock

Market News and Data brought to you by Benzinga APIs

© 2026 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

To add Benzinga News as your preferred source on Google, click here.

Second Quarter 2026 Highlights

Net earnings per diluted share of $1.24 ($1.31 excluding mark-to-market losses on technology investments) Net earnings of $305 million New orders decreased 4% year over year to 21,749 homes Backlog of 16,818 homes with a dollar value of $6.6 billion Deliveries increased 2% year over year to 20,519 homes Total revenues of $7.9 billion Homebuilding operating earnings of $489 million Gross margin on home sales of 15.6% S,G&A expenses as a % of revenues from home sales of 9.2% Net margin on home sales of 6.4% Financial Services operating earnings of $100 million Multifamily operating earnings of $18 million Lennar Other operating loss of $39 million Homebuilding cash and cash equivalents of $1.8 billion No outstanding borrowings under the Company's $3.1 billion revolving credit facility Homebuilding debt to total capital of 15.8% Repurchased 5 million shares of Lennar common stock for $447 million Redeemed $400 million of 5.25% senior notes due in June 2026, subsequent to May 31, 2026 , /PRNewswire/ -- Lennar Corporation (NYSE: LEN and LEN.B), one of the nation's leading homebuilders, today reported results for its second quarter ended May 31, 2026. Second quarter net earnings attributable to Lennar in 2026 were $305 million, or $1.24 per diluted share, compared to second quarter net earnings attributable to Lennar in 2025 of $477 million, or $1.81 per diluted share. Excluding pretax mark-to-market losses of $23 million and $29 million on technology investments, respectively, second quarter net earnings attributable to Lennar in 2026 were $322 million, or $1.31 per diluted share compared to $499 million or $1.90 per diluted share in the second quarter of 2025.

Stuart Miller, Executive Chairman, Chief Executive Officer and President of Lennar, said, "Our second quarter of fiscal year 2026 was defined by the same stubborn headwinds that have challenged the housing market for the past several years – persistently elevated mortgage rates, constrained affordability, and cautious consumer sentiment, exacerbated by geopolitical uncertainty creating a resurgent inflation reading of 4.2% driven by higher energy prices. Against that backdrop, our team delivered results that demonstrate the strength and resilience of our operating platform. 

"We delivered 20,519 homes, within our guidance of 20,000 to 21,000, generated 21,749 new orders and produced earnings per share of $1.31 excluding mark-to-market losses. Our average sales price was $371,000, reflecting approximately 12.9% in incentives, along with base price adjustments necessary to sustain volume in a market where affordability remains the defining constant. Our gross margin improved sequentially to 15.6% while our net margin increased to 6.4%."

"Our continued focus on operational execution is reflected across numerous key metrics. Our construction costs improved another 2% sequentially and 13% over the last several years. Our cycle time reached a new record low of 121 days, down from 122 days last quarter and 132 days a year ago. We reduced our inventory to 2.1 homes per community from 3 homes per community last quarter, and our inventory turn stands at 2.5 times. Less than 5% of our land is on our balance sheet and our total owned homebuilding inventory has declined from $11.4 billion a year ago to $10.9 billion today. Finally, we ended the quarter with $1.8 billion in cash as we purchased 5 million shares of stock for $447 million."

"Looking ahead to the third quarter of 2026, we expect to deliver approximately 20,500 to 21,500 homes with gross margin improving to approximately 16% as volume increases, incentive levels continue to moderate, and our cost discipline continues to gain traction. We expect our average sales price to be in the range of approximately $375,000 to $380,000 and our SG&A to improve toward 8.8% to 9.0%. Given current pressure on interest rates and geopolitical uncertainty we are moderating our target full-year 2026 deliveries to approximately 82,000 to 83,000 homes."

"In order to help clearly communicate our operating strategy and operating model, we are pleased to announce the publication of a new Investor Deck on the Lennar Investor Relations website tomorrow morning. This deck has been designed to give investors a current view of Lennar's transformation, our asset-light operating model, our technology platform, and our path to margin recovery and long-term value creation. We believe it provides important context for understanding not just where we are today, but where we are going, and why we remain so confident about Lennar's long-term position."

Mr. Miller concluded, "Our strategy consistently has been to execute around the affordability challenge rather than wait it out. We have prioritized volume to create durable scale advantages, to deliver that volume at lower prices, and ultimately improve margins. Our costs are down materially over the past two years, volume is holding, our asset-light balance sheet is functioning extremely well and improving, and our technology initiatives are defining a new Lennar. Additionally, the gap between our current incentive levels of 12.9% and normalized levels of 4% to 6% is narrowing for the first time in three years as the mismatch between higher home prices with higher interest rates and household income is narrowing, as wages drift higher and employment remains strong. The fundamental shortage of housing in America has not been solved. Demand is real, deferred, and building. Lennar is positioned better than at any point in recent history to capture demand as conditions normalize. We remain deeply committed to building the homes America needs, at prices families can afford, and to generating the returns our shareholders deserve."

RESULTS OF OPERATIONS
SECOND QUARTER 2026 COMPARED TO SECOND QUARTER 2025

Homebuilding

Revenues from home sales decreased 2% in the second quarter of 2026 to $7.6 billion from $7.8 billion in the second quarter of 2025. Revenues were lower primarily due to a 5% decrease in the average sales price of homes delivered, partially offset by a 2% increase in the number of home deliveries. New home deliveries were 20,519 homes in the second quarter of 2026, compared to 20,131 homes in the second quarter of 2025. The average sales price of homes delivered was $371,000 in the second quarter of 2026, compared to $389,000 in the second quarter of 2025. The decrease in average sales price of homes delivered in the second quarter of 2026 compared to the same period last year was primarily due to continued weakness in the market.

Gross margins on home sales were $1.2 billion, or 15.6%, in the second quarter of 2026, compared to $1.4 billion, or 17.8%, in the second quarter of 2025. During the second quarter of 2026, gross margins decreased primarily due to lower revenue per square foot and higher land costs year over year, which were partially offset by a decrease in construction costs, reflecting the Company's continued focus on cost-saving initiatives.

Selling, general and administrative expenses were $698 million in the second quarter of 2026, compared to $689 million in the second quarter of 2025. As a percentage of revenues from home sales, selling, general and administrative expenses increased to 9.2% in the second quarter of 2026, from 8.8% in the second quarter of 2025, primarily due to less leverage as a result of lower revenues and an increase in marketing and selling expenses.

Financial Services

Operating earnings for the Financial Services segment were $100 million in the second quarter of 2026, compared to $157 million in the second quarter of 2025, both amounts are net of noncontrolling interest. The decrease in operating earnings was primarily due to lower profit per locked loan in the mortgage business.

Ancillary Businesses

Operating earnings for the Multifamily segment were $18 million in the second quarter of 2026, compared to an operating loss of $15 million in the second quarter of 2025. Operating loss for the Lennar Other segment was $39 million in the second quarter of 2026, compared to an operating loss of $53 million in the second quarter of 2025. The Lennar Other operating loss for both second quarters of 2026 and 2025 was primarily driven by mark-to-market losses of $23 million and $29 million, respectively, on the Company's technology investments.

Tax Rate

In the second quarter of 2026 and 2025, the Company had tax provisions of $105 million and $160 million, which resulted in an overall effective income tax rate of 25.6% and 25.1%, respectively. For both periods, the Company's effective income tax rate included state income tax expense and non-deductible executive compensation, partially offset by tax credits.

Share Repurchases

In the second quarter of 2026, the Company repurchased 5 million shares of its common stock for $447 million at an average share price of $89.35.

Guidance

The following are the Company's expected results of its homebuilding and financial services activities for the third quarter of 2026:

New Orders

21,000 - 22,000

Deliveries

20,500 - 21,500

Average Sales Price

$375,000 - $380,000

Gross Margin % on Home Sales

Approximately 16%

SG&A as a % of Home Sales

8.8% - 9.0%

Financial Services Operating Earnings

$95 million - $100 million

About Lennar
Lennar Corporation, founded in 1954, is one of the nation's leading builders of quality homes for all generations. Lennar builds affordable, move-up and active adult homes primarily under the Lennar brand name. Lennar's Financial Services segment provides mortgage financing, title and closing services primarily for buyers of Lennar's homes and, through LMF Commercial, originates mortgage loans secured primarily by commercial real estate properties throughout the United States. Lennar's Multifamily segment is a nationwide developer of high-quality multifamily rental properties. LENX drives Lennar's technology, innovation and strategic investments. For more information about Lennar, please visit www.lennar.com.

Note Regarding Forward-Looking Statements: Some of the statements in this press release are "forward-looking statements," as that term is defined in the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements relating to the homebuilding market and other markets in which we participate, as well as our expected results and guidance. You can identify forward-looking statements by the fact that these statements do not relate strictly to historical or current matters. Rather, forward-looking statements relate to anticipated or expected events, activities, trends or results. Accordingly, these forward-looking statements should be evaluated with consideration given to the many risks and uncertainties inherent in our business that could cause actual results and events to differ materially from those anticipated by the forward-looking statements. We wish to caution readers not to place undue reliance on any forward-looking statements, which are expressly qualified in their entirety by this cautionary statement and speak only as of the date made.

Important factors that could cause differences between anticipated and actual results include slowdowns in real estate markets in regions where we have significant Homebuilding or Multifamily development activities or own a substantial number of single-family homes for rent; decreased demand for our homes, either for sale or for rent, or Multifamily rental apartments; the potential impact of inflation; the impact of increased cost of mortgage financing for homebuyers, increased or continued high interest rates or increased competition in the mortgage industry; supply shortages and increased costs related to construction materials and labor; changes in trade policy affecting our business, including new or increased tariffs, as well as the potential impact of retaliatory tariffs and other penalties that may impact the cost of raw materials and other goods related to our homebuilding businesses; changes in U.S. and foreign governmental laws, regulations and policies, including retaliatory policies against the United States, that may impact our business operations; cost increases related to real estate taxes and insurance; the effect of increased interest rates with regard to our funds' borrowings or the willingness of the funds to invest in new projects; reductions in the market value of our investments in public companies; natural disasters or catastrophic events for which our insurance may not provide adequate coverage; our inability to successfully execute our strategies, including our land light strategy; problems exercising options to purchase homesites; a decline in the value of the land and home inventories we maintain and resulting possible future writedowns of the carrying value of our real estate assets; the forfeiture of deposits and pre-acquisition costs on real estate related to land purchase options we decide not to exercise; the potential negative impact to our business from public health issues; labor shortages and/or a decrease in the number of potential homebuyers due to increased enforcement of restrictions on immigration; possible unfavorable outcomes in legal proceedings; conditions in the capital, credit and financial markets; changes in laws, regulations or the regulatory environment affecting our business; and the other risks and uncertainties described in our filings from time to time with the Securities and Exchange Commission, including those included under the captions "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" in our most recent Annual Report on Form 10-K filed on January 28, 2026 and Quarterly Reports on Form 10-Q.

We undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.

A conference call to discuss the Company's second quarter earnings will be held at 11:00 a.m. Eastern Time on Friday, June 12, 2026. The call will be broadcast live on the Internet and can be accessed through the Company's website at investors.lennar.com. If you are unable to participate in the conference call, the call will be archived at investors.lennar.com for 90 days. A replay of the conference call will also be available later that day by calling 203-369-1938 and entering 5723593 as the confirmation number.

LENNAR CORPORATION AND SUBSIDIARIES

Selected Revenues and Operating Information

(In thousands, except per share amounts)

(unaudited)

Three Months Ended

Six Months Ended

May 31,

May 31,

2026

2025

2026

2025

Revenues:

Homebuilding

$  7,616,314

7,843,862

13,914,877

15,127,732

Financial Services

236,939

298,098

452,494

575,175

Multifamily

63,564

230,305

146,063

293,501

Lennar Other

23,055

5,237

45,914

12,639

Total revenues

$  7,939,872

8,377,502

14,559,348

16,009,047

Homebuilding operating earnings

$     489,371

728,234

862,399

1,537,507

Financial Services operating earnings

101,103

157,280

192,416

300,763

Multifamily operating earnings (loss)

18,325

(14,754)

36,184

(14,777)

Lennar Other operating loss

(38,944)

(52,895)

(44,190)

(142,178)

Corporate general and administrative expenses

(136,149)

(155,853)

(293,787)

(303,231)

Charitable foundation contribution

(20,519)

(20,131)

(37,382)

(37,965)

Earnings before income taxes

413,187

641,881

715,640

1,340,119

Provision for income taxes

(105,058)

(160,061)

(174,150)

(329,586)

Net earnings (including net earnings attributable to noncontrolling interests)

308,129

481,820

541,490

1,010,533

Less: Net earnings attributable to noncontrolling interests

3,357

4,371

7,335

13,558

Net earnings attributable to Lennar

$     304,772

477,449

534,155

996,975

Basic and diluted average shares outstanding

240,776

260,286

242,607

261,510

Basic and diluted earnings per share

$           1.24

1.81

2.17

3.77

Supplemental information:

Interest incurred (1)

$       56,881

41,846

111,456

73,335

EBIT (2):

Net earnings attributable to Lennar

$     304,772

477,449

534,155

996,975

Provision for income taxes

105,058

160,061

174,150

329,586

Interest expense included in:

Costs of homes and land sold

52,574

33,525

91,448

61,775

Homebuilding other income, net

2,710

3,655

5,823

7,051

Total interest expense

55,284

37,180

97,271

68,826

EBIT

$     465,114

674,690

805,576

1,395,387

(1)

Amount represents interest incurred related to homebuilding debt.

(2)

EBIT is a non-GAAP financial measure defined as earnings before interest and taxes. This financial measure has been presented because the Company finds it important and useful in evaluating its performance and believes that it helps readers of the Company's financial statements compare its operations with those of its competitors. Although management finds EBIT to be an important measure in conducting and evaluating the Company's operations, this measure has limitations as an analytical tool as it is not reflective of the actual profitability generated by the Company during the period. Management compensates for the limitations of using EBIT by using this non-GAAP measure only to supplement the Company's GAAP results. Due to the limitations discussed, EBIT should not be viewed in isolation, as it is not a substitute for GAAP measures.

LENNAR CORPORATION AND SUBSIDIARIES

Segment Information

(In thousands)

(unaudited)

Three Months Ended

Six Months Ended

May 31,

May 31,

2026

2025

2026

2025

Homebuilding revenues:

Sales of homes

$   7,595,039

7,788,275

13,867,961

15,028,821

Sales of land

12,401

43,195

27,559

78,521

Other homebuilding

8,874

12,392

19,357

20,390

  Total homebuilding revenues

7,616,314

7,843,862

13,914,877

15,127,732

Homebuilding costs and expenses:

Costs of homes sold

6,412,619

6,402,532

11,734,233

12,290,676

Costs of land sold

21,544

56,173

52,855

92,250

Selling, general and administrative

698,395

688,847

1,315,890

1,304,586

  Total homebuilding costs and expenses

7,132,558

7,147,552

13,102,978

13,687,512

Homebuilding net margins

483,756

696,310

811,899

1,440,220

Homebuilding equity in earnings from unconsolidated entities

2,670

17,716

40,851

52,720

Homebuilding other income, net

2,945

14,208

9,649

44,567

Homebuilding operating earnings

$     489,371

728,234

862,399

1,537,507

Financial Services revenues

$     236,939

298,098

452,494

575,175

Financial Services costs and expenses

135,836

140,818

260,078

274,412

Financial Services operating earnings

$     101,103

157,280

192,416

300,763

Multifamily revenues

$       63,564

230,305

146,063

293,501

Multifamily costs and expenses

72,788

254,677

163,216

328,053

Multifamily equity in earnings from unconsolidated entities and other income, net

27,549

9,618

53,337

19,775

Multifamily operating earnings (loss)

$       18,325

(14,754)

36,184

(14,777)

Lennar Other revenues

$       23,055

5,237

45,914

12,639

Lennar Other costs and expenses

43,726

30,025

87,410

53,589

Lennar Other equity in earnings (loss) from unconsolidated entities and other

4,979

1,333

5,720

(9,285)

Lennar Other losses from technology investments

(23,252)

(29,440)

(8,414)

(91,943)

Lennar Other operating loss

$      (38,944)

(52,895)

(44,190)

(142,178)

LENNAR CORPORATION AND SUBSIDIARIES

Summary of Deliveries, New Orders and Backlog

(Dollars in thousands, except average sales price)

(unaudited)

Lennar's reportable homebuilding segments and all other homebuilding operations not required to be reported separately have divisions located in:

East: Florida, New Jersey and Pennsylvania

Central: Alabama, Georgia, Illinois, Indiana, Maryland/Virginia, Minnesota, North Carolina, South Carolina and Tennessee

South Central: Arkansas, Kansas, Oklahoma and Texas

West: Arizona, California, Colorado, Idaho, Nevada, Oregon, Utah and Washington

Other: Urban divisions

Three Months Ended May 31,

2026

2025

2026

2025

2026

2025

Deliveries:

Homes

Dollar Value

Average Sales Price

East

4,761

4,742

$     1,757,118

1,766,459

$       369,000

373,000

Central

4,606

4,538

1,662,594

1,743,304

361,000

384,000

South Central

6,286

6,174

1,463,140

1,505,750

233,000

244,000

West

4,863

4,669

2,758,154

2,818,980

567,000

604,000

Other

3

8

1,897

4,834

632,000

604,000

Total

20,519

20,131

$     7,642,903

7,839,327

$       371,000

389,000

Of the total homes delivered listed above, 73 homes with a dollar value of $48 million and an average sales price of $656,000 represent homes from

unconsolidated entities for the three months ended May 31, 2026, compared to 113 homes with a dollar value of $51 million and an average sales

price of $452,000 for the three months ended May 31, 2025.

As of May 31,

Three Months Ended May 31,

2026

2025

2026

2025

2026

2025

2026

2025

New Orders:

Active Communities

Homes

Dollar Value

Average Sales Price

East

346

340

5,064

5,604

$ 1,929,424

1,978,078

$   381,000

353,000

Central

462

443

5,218

5,266

1,896,583

1,987,955

363,000

378,000

South Central

433

391

6,293

6,626

1,475,500

1,607,319

234,000

243,000

West

441

441

5,173

5,098

2,906,234

2,997,528

562,000

588,000

Other

1

2

1

7

668

4,383

668,000

626,000

Total

1,683

1,617

21,749

22,601

$ 8,208,409

8,575,263

$   377,000

379,000

Of the total new orders listed above, 57 homes with a dollar value of $31 million and an average sales price of $542,000 represent homes in five active

communities from unconsolidated entities for the three months ended May 31, 2026, compared to 141 homes with a dollar value of $70 million and an

average sales price of $495,000 in 10 active communities for the three months ended May 31, 2025.

Six Months Ended May 31,

2026

2025

2026

2025

2026

2025

Deliveries:

Homes

Dollar Value

Average Sales Price

East

8,911

9,126

$      3,341,069

3,462,701

$        375,000

379,000

Central

8,407

8,494

3,007,627

3,273,497

358,000

385,000

South Central

11,325

10,904

2,623,320

2,666,273

232,000

245,000

West

8,731

9,425

5,009,901

5,707,665

574,000

606,000

Other

8

16

5,780

10,720

723,000

670,000

Total

37,382

37,965

$     13,987,697

15,120,856

$        374,000

398,000

Of the total homes delivered listed above, 157 homes with a dollar value of $120 million and an average sales price of $763,000 represent homes from

unconsolidated entities for the six months ended May 31, 2026, compared to 193 homes with a dollar value of $92 million and an average sales price of

$477,000 for the six months ended May 31, 2025.

Six Months Ended May 31,

2026

2025

2026

2025

2026

2025

New Orders:

Homes

Dollar Value

Average Sales Price

East

9,544

9,667

$      3,641,071

3,539,940

$       382,000

366,000

Central

9,810

9,816

3,532,795

3,788,150

360,000

386,000

South Central

11,298

11,547

2,639,114

2,780,180

234,000

241,000

West

9,604

9,909

5,529,034

5,886,178

576,000

594,000

Other

8

17

5,781

11,547

723,000

679,000

Total

40,264

40,956

$    15,347,795

16,005,995

$       381,000

391,000

Of the total new orders listed above, 128 homes with a dollar value of $62 million and an average sales price of $485,000 represent homes from

unconsolidated entities for the six months ended May 31, 2026, compared to 242 homes with a dollar value of $130 million and an average sales price of

$536,000 for the six months ended May 31, 2025.

At May 31,

2026

2025

2026

2025

2026

2025

Backlog:

Homes

Dollar Value

Average Sales Price

East

5,455

3,900

$     2,069,490

1,562,457

$       379,000

401,000

Central

4,875

4,706

1,797,844

1,905,125

369,000

405,000

South Central

3,018

3,430

671,772

815,681

223,000

238,000

West

3,470

3,500

2,067,167

2,200,051

596,000

629,000

Other

—

2

—

1,176

—

588,000

Total

16,818

15,538

$     6,606,273

6,484,490

$       393,000

417,000

Of the total homes in backlog listed above, 50 homes with a backlog dollar value of $28 million and an average sales price of $568,000 represent the

backlog from unconsolidated entities at May 31, 2026, compared to 128 homes with a backlog dollar value of $101 million and an average sales price

of $792,000 at May 31, 2025.

LENNAR CORPORATION AND SUBSIDIARIES

Condensed Consolidated Balance Sheets

(In thousands, except per share amounts)

(unaudited)

May 31, 2026

November 30, 2025

ASSETS

Homebuilding:

Cash and cash equivalents

$             1,816,248

3,441,324

Restricted cash

29,204

25,930

Receivables, net

978,796

1,002,629

Inventories:

  Finished homes and construction in progress

10,093,878

8,822,271

  Land and land under development

801,156

1,098,961

Inventory owned

10,895,034

9,921,232

  Consolidated inventory not owned

1,488,684

1,696,401

Inventory owned and consolidated inventory not owned

12,383,718

11,617,633

Deposits and pre-acquisition costs on real estate

7,061,935

6,383,633

Investments in unconsolidated entities

1,478,719

1,545,370

Goodwill

3,442,359

3,442,359

Other assets

1,785,201

1,794,378

28,976,180

29,253,256

Financial Services

3,123,509

3,377,413

Multifamily

801,356

902,136

Lennar Other

800,410

897,632

Total assets

$           33,701,455

34,430,437

LIABILITIES AND EQUITY

Homebuilding:

Accounts payable

$             1,784,916

1,812,484

Liabilities related to consolidated inventory not owned

1,312,689

1,476,376

Senior notes and other debts payable, net

4,047,487

4,084,686

Other liabilities

2,470,608

2,691,876

9,615,700

10,065,422

Financial Services

2,151,670

2,010,598

Multifamily

76,768

113,361

Lennar Other

91,591

100,447

Total liabilities

11,935,729

12,289,828

Stockholders' equity:

Preferred stock

—

—

Class A common stock of $0.10 par value

26,309

26,158

Class B common stock of $0.10 par value

3,660

3,660

Additional paid-in capital

6,020,306

5,909,726

Retained earnings

22,759,089

22,471,471

Treasury stock

(7,194,402)

(6,457,609)

Accumulated other comprehensive income

5,676

6,011

Total stockholders' equity

21,620,638

21,959,417

Noncontrolling interests

145,088

181,192

Total equity

21,765,726

22,140,609

Total liabilities and equity

$           33,701,455

34,430,437

LENNAR CORPORATION AND SUBSIDIARIES

Supplemental Data

(Dollars in thousands)

(unaudited)

May 31, 2026

November 30, 2025

May 31, 2025

Homebuilding debt

$          4,047,487

4,084,686

2,791,987

Stockholders' equity

21,620,638

21,959,417

22,579,080

Total capital

$        25,668,125

26,044,103

25,371,067

Homebuilding debt to total capital

15.8 %

15.7 %

11.0 %

Homebuilding debt

$          4,047,487

4,084,686

2,791,987

Less: Homebuilding cash and cash equivalents

1,816,248

3,441,324

1,168,143

Net homebuilding debt

$          2,231,239

643,362

1,623,844

Net homebuilding debt to total capital (1)

9.4 %

2.8 %

6.7 %

(1)

Net homebuilding debt to total capital is a non-GAAP financial measure defined as net homebuilding debt (homebuilding debt less homebuilding cash and cash equivalents) divided by total capital (net homebuilding debt plus stockholders' equity). The Company believes the ratio of net homebuilding debt to total capital is a relevant and a useful financial measure to investors in understanding the leverage employed in homebuilding operations. However, because net homebuilding debt to total capital is not calculated in accordance with GAAP, this financial measure should not be considered in isolation or as an alternative to financial measures prescribed by GAAP. Rather, this non-GAAP financial measure should be used to supplement the Company's GAAP results.

Contact:
Jorge Almeida
Investor Relations
Lennar Corporation
(305) 485-4129

SOURCE Lennar Corporation

LEN stock is moving. Watch the price action here. Lennar Q2 Details      Lennar reported quarterly adjusted earnings of $1.31 per share, which beat the Street consensus estimate of $1.25, according to Benzinga Pro data. 

Quarterly revenue came in at $7.94 billion, missing the analyst estimate of $8.02 billion.

Lennar reported the following second-quarter highlights:

New orders decreased 4% year over year to 21,749 homes Backlog of 16,818 homes with a dollar value of $6.6 billion Deliveries increased 2% year over year to 20,519 homes Homebuilding operating earnings of $489 million Gross margin on home sales of 15.6% SG&A expenses as a percentage of revenues from home sales of 9.2% Net margin on home sales of 6.4% “Our second quarter of fiscal year 2026 was defined by the same stubborn headwinds that have challenged the housing market for the past several years — persistently elevated mortgage rates, constrained affordability, and cautious consumer sentiment, exacerbated by geopolitical uncertainty, creating a resurgent inflation reading of 4.2% driven by higher energy prices,” said Stuart Miller, CEO of Lennar.

“Against that backdrop, our team delivered results that demonstrate the strength and resilience of our operating platform,” Miller added.

LEN Stock Price Activity: According to data from Benzinga Pro, Lennar stock was down 1.69% to $93.35 in Thursday's extended trading.  

Photo: Shutterstock

Market News and Data brought to you by Benzinga APIs

© 2026 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

To add Benzinga News as your preferred source on Google, click here.

Image: Bigstock

Read MoreHide Full Article

For the quarter ended May 2026, Lennar (LEN - Free Report) reported revenue of $7.94 billion, down 5.2% over the same period last year. EPS came in at $1.31, compared to $1.90 in the year-ago quarter.

The reported revenue represents a surprise of -1.64% over the Zacks Consensus Estimate of $8.07 billion. With the consensus EPS estimate being $1.23, the EPS surprise was +6.5%.

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:

Deliveries - Average sales price - Total: $371.00 versus the four-analyst average estimate of $372.83.Active Communities - Total: 1,683 versus 1,762 estimated by four analysts on average.Backlog - Homes: 16,818 compared to the 16,889 average estimate based on three analysts.Deliveries - Homes: 20,519 versus 20,314 estimated by three analysts on average.New orders - Homes: 21,749 versus the three-analyst average estimate of 21,615.Revenue- Financial Services: $236.94 million compared to the $270.68 million average estimate based on five analysts. The reported number represents a change of -20.5% year over year.Revenue- Homebuilding- Sales of homes: $7.6 billion versus the five-analyst average estimate of $7.6 billion. The reported number represents a year-over-year change of -2.5%.Revenue- Multifamily: $63.56 million versus $116.68 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a -72.4% change.Revenue- Homebuilding: $7.62 billion compared to the $7.61 billion average estimate based on three analysts. The reported number represents a change of -2.9% year over year.Revenue- Homebuilding- Sales of land: $12.4 million compared to the $32.9 million average estimate based on three analysts. The reported number represents a change of -71.3% year over year.Revenue- Lennar Other: $23.06 million versus the two-analyst average estimate of $7.49 million. The reported number represents a year-over-year change of +340.2%.Revenue- Homebuilding- Other homebuilding: $8.87 million versus $10 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a -28.4% change.View all Key Company Metrics for Lennar here>>>

Shares of Lennar have returned +5.7% over the past month versus the Zacks S&P 500 composite's -1.6% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.

Zacks' 7 Best Strong Buy Stocks (New Research Report) Valued at $99, click below to receive our just-released report predicting the 7 stocks that will soar highest in the coming month.

Click Here, It's Really Free

Published in earnings earnings-estimates-revisions earnings-surprise

June 12, 2026 Thursday's MarketsS&P 500
7,394 (+1.75%)Nasdaq
25,810 (+2.54%)Dow
50,849 (+1.86%)Bitcoin
$63,424 (+2.62%)

Source: Image created by Jester AI.

1. SpaceX Set to Open Higher on IPO Debut Early shadow market trading indicates the SpaceX (SPCX +23.92%) stock price could surge at least 35% after the market opens today, with retail investors alone submitting more than $100 billion in orders at the Thursday deadline, as final indications imply strong appetite for the company.

All 555,555,555 shares sold at $135 apiece: The WSJ reports BlackRock (BLK +1.41%) put in an order to buy at least $5 billion worth of stock, with a separate family office alone requesting $1 billion. Polymarket traders have assigned a 70% probability of the stock closing above a $2 trillion market cap today. "Space is hot right now for the same reason tech software got hot in the late 1990s": Fool contributing analyst Lou Whiteman explained, "as the cost comes down, things that weren't practical due to expense just a few years ago become feasible. And entrepreneurs are likely to think of all-new ways to use space that wouldn't have been possible when costs were higher." 2. Nvidia Opens Vera CPU Orders in China Reuters reports Nvidia (NVDA +0.13%) has informed Chinese clients of pending availability of Vera CPUs, with AI processor orders to be available as soon as August.

The Chinese market once accounted for over 20% of Nvidia's data center revenue: The move would aim to kick-start China sales and provide an alternative from the stalling progress on the powerful H200 chip, with reported demand for the Vera processors according to domestic sources. "Their local ecosystem of chip companies are doing quite well, because we've evacuated that market": Speaking in late May, Nvidia CEO Jensen Huang explained how China had large demand, but tight U.S. chip export restrictions meant the Stock Advisor Foundational Stock had largely conceded it. 3. ADBE, LEN, and RH Earnings Disappoint Adobe (ADBE 7.65%) fell around 5% ahead of the market open after the sudden departure of its CFO, Dan Durn, overshadowed a strong quarterly earnings beat. In the short term, the Team Rule Breakers recommendation expects revenue pressure as it focuses on a "freemium" model. RH (RH 3.03%) dropped about 1% in pre-market trading following a mixed bag of results. Also recommended by Team Rule Breakers, revenue for the quarter fell by 1.7% versus the same period last year, although management raised the full-year outlook based on opening new galleries. Lennar (LEN 4.47%) moved over 2% lower before the opening bell, pointing to "elevated mortgage rates and cautious consumer sentiment" in the quarterly earnings report as a factor in the 31% drop in earnings per share. 4. Rocket Lab Pops on Nasdaq 100 Promotion The quarterly Nasdaq 100 rebalance sees Rocket Lab (RKLB 9.56%) promoted alongside four others, with Zscaler (ZS +2.37%) a notable removal. All changes take effect prior to the market open on Monday June 22.

Rocket Lab pops around 6% in pre-market trading: The news carried the promoted stocks higher overnight, with the Stock Advisor rec by Team Hidden Gems now up an impressive 122% since the July 2025 selection. Rotation shows current market winners and losers: The rebalance shows the investor pivot toward AI infrastructure and cloud computing, replacing more mature consumer-facing telecoms and older software firms. 5. Your Take How are you playing the space economy theme, if at all? Pure plays like Rocket Lab? Diversified aerospace like Boeing (BA 0.49%)? Component suppliers like the ones serving SpaceX? Or are you sitting it out?

Debate with friends and family, or become a member to hear what your fellow Fools are saying!

This image and article was created using Large Language Models (LLMs) based on The Motley Fool's insights and investing approach. It has been reviewed by our AI quality control systems. Since LLMs cannot (currently) own stocks, it has no positions in any of the stocks mentioned. The Motley Fool has positions in and recommends Adobe, BlackRock, Boeing, Lennar, Nvidia, Rocket Lab, and Zscaler. The Motley Fool recommends RH and recommends the following options: long January 2028 $330 calls on Adobe and short January 2028 $340 calls on Adobe. The Motley Fool has a disclosure policy.

U.S. stock futures were higher this morning, with the Dow futures gaining around 300 points on Friday.

Shares of Lennar Corp (NYSE:LEN) fell sharply in pre-market trading after the company posted mixed second-quarter results.

Lennar reported quarterly adjusted earnings of $1.31 per share, which beat the Street consensus estimate of $1.25, according to Benzinga Pro data. Quarterly revenue came in at $7.94 billion, missing the analyst estimate of $8.02 billion.

Lennar shares dipped 2.7% to $92.35 in pre-market trading.

Here are some other stocks moving lower in pre-market trading.

Photo via Shutterstock

Market News and Data brought to you by Benzinga APIs

© 2026 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

To add Benzinga News as your preferred source on Google, click here.

The Lock-In Effect Is Real—These 3 Homebuilders Are Betting on ItLennar NYSE: LEN reported second-quarter 2026 results that executives said reflected steady execution in a difficult housing market, with home deliveries near the midpoint of guidance, new orders near the high end and early signs that buyer incentives are beginning to ease.

Executive Chairman and CEO Stuart Miller said the homebuilder delivered 20,519 homes during the quarter and generated 21,749 new orders. Lennar posted a gross margin of 15.6%, net margin of 6.4% and earnings per share of $1.31 excluding mark-to-market items. On a GAAP basis, the company reported net income of $305 million and earnings per share of $1.24.

Get Lennar alerts:

Berkshire Builds a Moat Around HomebuildersMiller said Lennar’s sales incentive rate on deliveries was 12.9%, down from 14.1% in the first quarter and 14.5% in the fourth quarter of 2025. He described the decline as “the first real and potentially sustainable decline” after several years of generally rising incentives.

“While this decline may be a leading indicator of margin recovery, the overall market remains choppy as economic and geopolitical crosscurrents mark the way forward,” Miller said.

Affordability Remains Central Concern 3 Stocks That Win If Inflation Surprises to the DownsideMiller said mortgage rates remained in the mid- to upper-6% range throughout the quarter, with the 30-year fixed rate at roughly 6.4% to 6.5% at the time of the call. At those levels, he said, buyers at median family income levels are spending above 30% of gross income on housing, keeping affordability challenged.

He also pointed to a more complicated inflation backdrop, citing a May CPI report showing headline inflation at 4.2% year over year, driven primarily by energy costs. Miller said higher gasoline and electricity costs can weigh on consumer confidence and reduce buyers’ willingness to make major financial commitments, including purchasing a home.

Miller said he does not expect the Federal Reserve to provide near-term relief, adding that Lennar is “not waiting” for rate cuts and is instead operating for the market as it currently exists. He also said the economy remains solid on the surface, but buyer behavior reflects caution, including concerns about long-term job security as artificial intelligence changes the labor market.

“Traffic is inconsistent, intent is high,” Miller said. “Urgency to close is still measured and deliberate rather than confident and energized.”

Cost Controls and Asset-Light Strategy Drive Efficiency Lennar continued to emphasize its volume-based operating strategy and asset-light balance sheet model. Miller said the company remains focused on consistent production and on reducing the amount of land it owns directly.

Construction cost per square foot improved to $81 in the quarter, down 7% from a year ago and 13% from two years ago, according to Miller. The company’s construction cycle time fell to 121 days, which he described as a record low, helping improve inventory turn to 2.5 times from 1.8 times a year earlier.

Chief Financial Officer Diane Bessette said Lennar ended the quarter with $1.8 billion in cash and total liquidity of $4.9 billion. Homebuilding debt to total capital was 15.8%. The company had no outstanding borrowings under its revolving credit facility and $1.7 billion outstanding under its term loan. Bessette said Lennar used cash to redeem $400 million of 5.25% senior notes that matured June 1.

Bessette said Lennar started about 20,600 homes during the quarter and ended with approximately 38,600 homes in inventory, including about 3,500 completed unsold homes, or just above two per community. That was down from about 5,100 completed unsold homes, or three per community, in the first quarter.

On land, Bessette said Lennar owns 2% of its land on balance sheet and controls 98% through third parties. The company ended the quarter owning 11,000 homesites and controlling 484,000 homesites. She said Lennar’s ACOR balance, which refers to pre-acquisition cost on real estate, was $7.1 billion at quarter end, up $237 million sequentially, primarily due to a net increase in capitalized option maintenance fees.

Management Sees Room for Margin Recovery Lennar’s average sales price in the second quarter was $371,500. Miller said the company is seeing early indications of margin improvement but emphasized that incentive reductions are happening slowly.

In response to questions from analysts, management said the company is increasingly using its “core product” strategy to improve efficiency. Bessette said the trend toward core product is expected to benefit returns because the homes are smaller, easier to build and lower cost. Chief Operating Officer Jim Parker said Lennar is optimizing product across divisions and geographies to identify the best cost structures and use those designs across more communities.

Miller said the move toward more core product should continue to reduce cycle time and cost per square foot, supporting better inventory turns and cash flow. He also said technology investments are expected to help reduce SG&A and corporate G&A over time, though he did not quantify the potential savings or timing.

David Grove, executive vice president for homebuilding, said both core product and technology are also aimed at improving the customer experience, including through Lennar’s Everything’s Included model.

Third-Quarter and Full-Year Guidance For the third quarter, Bessette said Lennar expects:

New orders of 21,000 to 22,000 homes; Deliveries of 20,500 to 21,500 homes; Average sales price of $375,000 to $380,000; Gross margin of approximately 16%; SG&A expense of 8.8% to 9%; Financial services earnings of $95 million to $100 million; A multifamily loss of approximately $15 million; A Lennar Other segment loss of approximately $20 million, excluding potential mark-to-market adjustments; EPS of approximately $1.20 to $1.40. Bessette said the company is adjusting its annual delivery guidance to 82,000 to 83,000 homes, citing current pressure on interest rates and continued macroeconomic uncertainty.

When asked why Lennar lowered its closing outlook rather than further reducing margins to maintain previous volume expectations, Miller said the company was being prudent amid a “constantly changing macro environment.” He said Lennar wanted to manage sales, starts and inventory levels carefully after a more robust selling season did not fully materialize.

Miller also said housing affordability continues to receive significant attention in Washington, D.C., though he declined to provide specifics on policy discussions. He said the level of engagement from the federal government on affordability is unlike anything he has seen in his career.

“Affordability matters,” Miller said.

About Lennar NYSE: LENLennar Corporation NYSE: LEN is a U.S.-based homebuilder and real estate company that designs, constructs and sells residential housing. The company offers a range of product types including single-family detached homes, townhomes and condominiums, serving buyers from entry-level and first-time purchasers to move-up, active-adult and luxury segments. Lennar also develops master-planned communities and manages land acquisition and entitlement activities that support its homebuilding operations.

In addition to home construction and sales, Lennar provides a suite of ancillary services intended to streamline the purchase process and capture additional value.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected].

Should You Invest $1,000 in Lennar Right Now?Before you consider Lennar, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Lennar wasn't on the list.

While Lennar currently has a Reduce rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

Unlock the timeless value of gold with our exclusive 2026 Gold Forecasting Report. Explore why gold remains the ultimate investment for safeguarding wealth against inflation, economic shifts, and global uncertainties. Whether you're planning for future generations or seeking a reliable asset in turbulent times, this report is your essential guide to making informed decisions.

Get This Free Report

March 31, 2026 16:01 ET  | Source: Bank OZK

LITTLE ROCK, Ark., March 31, 2026 (GLOBE NEWSWIRE) -- Bank OZK (the “Bank”) (Nasdaq: OZK) expects to report its first quarter 2026 earnings after the market closes on Tuesday, April 21, 2026. Management comments on the first quarter of 2026 will be released simultaneously with the earnings press release and financial supplement which will be available on the Bank’s investor relations website.   

Management will conduct a conference call to take questions at 7:30 a.m. CT (8:30 a.m. ET) on Wednesday, April 22, 2026. Interested parties may access the conference call live via webcast on the Bank’s investor relations website, or may participate via telephone by registering using this online form. Upon registration, all telephone participants will receive the dial-in number along with a unique PIN number that can be used to access the call. A replay of the conference call webcast will be archived on the Bank's website for at least 30 days.

GENERAL INFORMATION
Bank OZK (Nasdaq: OZK) is a regional bank providing innovative financial solutions delivered by expert bankers with a relentless pursuit of excellence. Established in 1903, Bank OZK conducts banking operations in 268 offices in nine states including Arkansas, Georgia, Florida, Texas, North Carolina, Tennessee, New York, California and Mississippi and had $40.8 billion in total assets as of December 31, 2025. For more information, visit ozk.com.

Investor Relations Contact:Jay Staley (501) 906-7842Media Contact:Michelle Rossow (501) 906-3922  

Sixty-three consecutive quarters of increased quarterly cash dividend on its common stock April 01, 2026 16:01 ET  | Source: Bank OZK

LITTLE ROCK, Ark., April 01, 2026 (GLOBE NEWSWIRE) -- Bank OZK (the “Bank”) (Nasdaq: OZK) announced its Board of Directors declared a quarterly cash dividend on the Bank’s common stock of $0.47 per share, up $0.01, or 2.17% from the prior quarter. The common stock dividend is payable on April 20, 2026 to shareholders of record as of April 13, 2026. Bank OZK has increased its quarterly cash dividend on its common stock in each of the last sixty-three quarters.

The Board of Directors also declared a quarterly cash dividend of $0.28906 per share on the Bank’s 4.625% Series A Non-Cumulative Perpetual Preferred Stock (“Series A Preferred Stock”) (Nasdaq: OZKAP) for the period covering February 15, 2026 through, but excluding May 15, 2026. The Series A Preferred Stock dividend is payable on May 15, 2026, to the holders of record of the Series A Preferred Stock at the close of business on May 1, 2026.

Bank OZK’s consistent track record of increasing its common stock dividend has led to it being included in the S&P High Yield Dividend Aristocrats® index (Ticker: SPHYDA) since January 2018. The index consists of members of the S&P Composite 1500® that have followed a managed-dividends policy of consistently increasing common stock dividends every year for at least 20 years, and that meet minimum float-adjusted market capitalization and liquidity requirements. For more information on the index, visit www.spglobal.com/spdji.

GENERAL INFORMATION
Bank OZK (Nasdaq: OZK) is a regional bank providing innovative financial solutions delivered by expert bankers with a relentless pursuit of excellence. Established in 1903, Bank OZK conducts banking operations in 268 offices in nine states including Arkansas, Georgia, Florida, Texas, North Carolina, Tennessee, New York, California and Mississippi and had $40.8 billion in total assets as of December 31, 2025. For more information, visit ozk.com.

Investor Relations Contact:Jay Staley (501) 906-7842Media Contact:Michelle Rossow (501) 906-3922  

Bank OZK presents solid fundamentals and growth but faces significant CRE loan exposure, tempering its upside potential. OZK's CRE exposure exceeds 54% of its loan portfolio, raising risk concerns despite management's claims of high-quality projects. I assign a 'hold' rating with a $125/share price target, reflecting insufficient risk/reward-adjusted upside at current valuations.

The market expects Bank OZK (OZK - Free Report) to deliver a year-over-year decline in earnings on higher revenues when it reports results for the quarter ended March 2026. This widely-known consensus outlook is important in assessing the company's earnings picture, but a powerful factor that might influence its near-term stock price is how the actual results compare to these estimates.

The earnings report, which is expected to be released on April 21, might help the stock move higher if these key numbers are better than expectations. On the other hand, if they miss, the stock may move lower.

While the sustainability of the immediate price change and future earnings expectations will mostly depend on management's discussion of business conditions on the earnings call, it's worth handicapping the probability of a positive EPS surprise.

Zacks Consensus EstimateThis bank is expected to post quarterly earnings of $1.46 per share in its upcoming report, which represents a year-over-year change of -0.7%.

Revenues are expected to be $421.86 million, up 3.1% from the year-ago quarter.

Estimate Revisions TrendThe consensus EPS estimate for the quarter has been revised 0.51% lower over the last 30 days to the current level. This is essentially a reflection of how the covering analysts have collectively reassessed their initial estimates over this period.

Investors should keep in mind that the direction of estimate revisions by each of the covering analysts may not always get reflected in the aggregate change.

Price, Consensus and EPS Surprise

Earnings WhisperEstimate revisions ahead of a company's earnings release offer clues to the business conditions for the period whose results are coming out. Our proprietary surprise prediction model -- the Zacks Earnings ESP (Expected Surprise Prediction) -- has this insight at its core.

The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a more recent version of the Zacks Consensus EPS estimate. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier.

Thus, a positive or negative Earnings ESP reading theoretically indicates the likely deviation of the actual earnings from the consensus estimate. However, the model's predictive power is significant for positive ESP readings only.

A positive Earnings ESP is a strong predictor of an earnings beat, particularly when combined with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold). Our research shows that stocks with this combination produce a positive surprise nearly 70% of the time, and a solid Zacks Rank actually increases the predictive power of Earnings ESP.

Please note that a negative Earnings ESP reading is not indicative of an earnings miss. Our research shows that it is difficult to predict an earnings beat with any degree of confidence for stocks with negative Earnings ESP readings and/or Zacks Rank of 4 (Sell) or 5 (Strong Sell).

How Have the Numbers Shaped Up for Bank OZK?For Bank OZK, the Most Accurate Estimate is lower than the Zacks Consensus Estimate, suggesting that analysts have recently become bearish on the company's earnings prospects. This has resulted in an Earnings ESP of -4.22%.

On the other hand, the stock currently carries a Zacks Rank of #4.

So, this combination makes it difficult to conclusively predict that Bank OZK will beat the consensus EPS estimate.

Does Earnings Surprise History Hold Any Clue?Analysts often consider to what extent a company has been able to match consensus estimates in the past while calculating their estimates for its future earnings. So, it's worth taking a look at the surprise history for gauging its influence on the upcoming number.

For the last reported quarter, it was expected that Bank OZK would post earnings of $1.56 per share when it actually produced earnings of $1.53, delivering a surprise of -1.92%.

Over the last four quarters, the company has beaten consensus EPS estimates two times.

Bottom LineAn earnings beat or miss may not be the sole basis for a stock moving higher or lower. Many stocks end up losing ground despite an earnings beat due to other factors that disappoint investors. Similarly, unforeseen catalysts help a number of stocks gain despite an earnings miss.

That said, betting on stocks that are expected to beat earnings expectations does increase the odds of success. This is why it's worth checking a company's Earnings ESP and Zacks Rank ahead of its quarterly release. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported.

Bank OZK doesn't appear a compelling earnings-beat candidate. However, investors should pay attention to other factors too for betting on this stock or staying away from it ahead of its earnings release.

Expected Results of an Industry PlayerAnother stock from the Zacks Banks - Northeast industry, Northeast Community Bancorp (NECB - Free Report) , is soon expected to post earnings of $0.75 per share for the quarter ended March 2026. This estimate indicates a year-over-year change of -3.9%. Revenues for the quarter are expected to be $26.42 million, up 3.6% from the year-ago quarter.

The consensus EPS estimate for Northeast Community Bancorp has been revised 4.8% lower over the last 30 days to the current level. However, an equal Most Accurate Estimate has resulted in an Earnings ESP of 0.00%.

This Earnings ESP, combined with its Zacks Rank #4 (Sell), makes it difficult to conclusively predict that Northeast Community Bancorp will beat the consensus EPS estimate. Over the last four quarters, the company surpassed consensus EPS estimates three times.

Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.

April 21, 2026 16:05 ET  | Source: Bank OZK

LITTLE ROCK, Ark., April 21, 2026 (GLOBE NEWSWIRE) -- Bank OZK (the “Bank”) (Nasdaq: OZK) today announced that net income available to common stockholders for the first quarter of 2026 was $159.3 million, a 5.1% decrease from $167.9 million for the first quarter of 2025. Diluted earnings per common share (“EPS”) for the first quarter of 2026 were $1.44, a 2.0% decrease from $1.47 for the first quarter of 2025.

George Gleason, Chairman and Chief Executive Officer, stated, “We are pleased to report our first quarter 2026 results, which provided a solid start to the year. Once again, our veteran team demonstrated our ability to effectively manage through a challenging macroeconomic and geopolitical environment and capitalize on opportunities. We believe we are well-positioned to continue to successfully execute on our strategic initiatives.”

MANAGEMENT COMMENTS, FINANCIAL SUPPLEMENT AND CONFERENCE CALL

In connection with this release, the Bank released its management comments on its quarterly results and a financial supplement, which are available at the Bank's investor relations website.

Management will conduct a conference call to take questions at 7:30 a.m. CT (8:30 a.m. ET) on Wednesday, April 22, 2026. Interested parties may access the conference call live via webcast on the Bank’s investor relations website, or may participate via telephone by registering using this online form. Upon registration, all telephone participants will receive the dial-in number along with a unique PIN number that can be used to access the call. A replay of the conference call webcast will be archived on the Bank’s website for at least 30 days.
GENERAL INFORMATION

Bank OZK (Nasdaq: OZK) is a regional bank providing innovative financial solutions delivered by expert bankers with a relentless pursuit of excellence. Established in 1903, Bank OZK conducts banking operations in 268 offices in nine states including Arkansas, Georgia, Florida, Texas, North Carolina, Tennessee, New York, California and Mississippi and had $41.7 billion in total assets as of March 31, 2026. For more information, visit ozk.com.

The Bank files annual, quarterly and current reports, proxy materials, and other information required by the Securities Exchange Act of 1934 with the Federal Deposit Insurance Corporation (“FDIC”), copies of which are available electronically at the FDIC’s website and are also available on the Bank’s investor relations website at ir.ozk.com. Use this online form to receive automated email notifications for these materials.

FORWARD-LOOKING STATEMENTS

This press release and other communications by the Bank and its management may include certain statements that constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These statements can be identified by the fact that they do not relate strictly to historical or current facts. Forward-looking statements often use words such as “anticipates,” “targets,” “expects,” “hopes,” “estimates,” “intends,” “plans,” “goals,” “believes,” “feels,” “continue” and other similar expressions or future or conditional verbs such as “will,” “may,” “might,” “should,” “would” and “could.” Forward-looking statements represent the Bank’s current expectations, plans or forecasts of its future results, revenues, liquidity, net interest income, provision for credit losses, expenses, efficiency ratio, capital measures, strategy, deposits, assets, and future business and economic conditions more generally, and other future matters. These statements are not guarantees of future results or performance and involve certain known and unknown risks, uncertainties and assumptions that are difficult to predict and are often beyond the Bank’s control. Actual outcomes and results may differ materially from those expressed in, or implied by, any of these forward-looking statements.

Investor Contact:Jay Staley (501) 906-7842Media Contact:Michelle Rossow (501) 906-3922

Bank OZK (OZK - Free Report) reported $418.1 million in revenue for the quarter ended March 2026, representing a year-over-year increase of 2.2%. EPS of $1.44 for the same period compares to $1.47 a year ago.

The reported revenue represents a surprise of -0.89% over the Zacks Consensus Estimate of $421.86 million. With the consensus EPS estimate being $1.46, the EPS surprise was -1.49%.

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.

Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.

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

Net interest margin: 4.2% versus 4.2% estimated by five analysts on average.Efficiency Ratio: 39% versus the five-analyst average estimate of 38.2%.Total Average Interest-Earning Assets (FTE): $37.66 billion compared to the $37.53 billion average estimate based on four analysts.Net charge-offs to average total loans: 0.6% versus 0.6% estimated by four analysts on average.Total Non-Interest Income: $32.53 million versus the five-analyst average estimate of $34.34 million.Net Interest Income: $385.57 million compared to the $387.24 million average estimate based on four analysts.Deposit-related fees- All other service charges: $7.65 million versus the three-analyst average estimate of $9.66 million.Loan-related fees: $8.82 million versus the three-analyst average estimate of $9.1 million.Gains (losses) on sales of other assets: $0.81 million versus $0.75 million estimated by three analysts on average.Trust income: $3.04 million versus $3.07 million estimated by two analysts on average.Other non-interest (loss) income: $2.74 million versus $4.75 million estimated by two analysts on average.BOLI income: $6.06 million compared to the $6 million average estimate based on two analysts.View all Key Company Metrics for Bank OZK here>>>

Shares of Bank OZK have returned +11.5% over the past month versus the Zacks S&P 500 composite's +9.3% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.

Bank OZK (OZK) Q1 2026 Earnings Call Transcript

A month has gone by since the last earnings report for Bank OZK (OZK - Free Report) . Shares have added about 1.6% in that time frame, underperforming the S&P 500.

Will the recent positive trend continue leading up to its next earnings release, or is Bank OZK due for a pullback? Well, first let's take a quick look at the most recent earnings report in order to get a better handle on the recent drivers for Bank OZK before we dive into how investors and analysts have reacted as of late.

Bank OZK Q1 Earnings Miss Estimates, Expenses & Provisions Rise Y/YBank OZK’s first-quarter 2026 adjusted earnings per share of $1.44 missed the Zacks Consensus Estimate of $1.46.  Also, the bottom line declined 2% year over year.

Results were primarily hurt by higher provisions for credit losses and a rise in operating expenses. A decline in non-interest income also acted as a headwind. Nevertheless, solid net interest income growth supported the top line. Healthy loans and deposits balance provided support.

Net income available to common shareholders was $159.3 million, down 5.1% from the year-ago quarter’s $167.9 million. Our estimate for the metric was $162.4 million.

Revenues & Expenses RiseNet revenues were $418.1 million, up 2.2% year over year. The top line missed the Zacks Consensus Estimate of $421.9 million.

NII was $385.6 million, up 3% year over year. Our estimate for the metric was $386.5 million.

The net interest margin, on a fully-taxable-equivalent basis, contracted 11 basis points year over year to 4.20%. Our estimate for NIM was 4.21%.

Non-interest income was $32.5 million, down 6.3% from the year-ago quarter. Our estimate for the metric was $35.4 million.

Non-interest expenses were $164.5 million, up 12% from the prior-year quarter. The increase was driven by higher salaries and employee benefits, net occupancy and equipment costs, and other operating expenses. We expected this metric to be $158.5 million.

Bank OZK’s efficiency ratio was 38.96%, up from 35.60% in the year-ago quarter, indicating reduced profitability.

Loans & Deposit Balances IncreaseAs of March 31, 2026, total loans were $33 billion, up 2% from the prior quarter. Total deposits were $33.8 billion, reflecting a 1.1 % increase. Our estimates for total loans and deposits were $32.1 billion and $35.1 billion, respectively.

Credit Quality WeakensNet charge-offs to average total loans grew to 0.57% from 0.25% in the year-ago quarter. Provision for credit losses was $41.9 million, rising 9.2% year over year. We projected provisions of $47.4 million.

The ratio of non-performing loans to total loans was 0.90% as of March 31, 2026, up from 0.20% a year ago.

Profitability Ratios DeclineAt the end of the first quarter, return on average assets was 1.58%, down from 1.77% in the year-earlier quarter. Return on average common equity also declined to 11.06% from 12.52%.

OutlookIf there are rate cuts, the company’s loan yields are expected to decrease faster than its deposit costs, resulting in some decrease in NIM. Conversely, if there is a rate increase, loan yields are expected to increase faster than deposit costs, resulting in an increase in NIM.

NII is expected to be higher in each subsequent quarter of 2026 driven by increased days and growth in average earning assets.

During 2025, Bank OZK increased resources aimed at growing non-interest income, which includes increasing revenue from secondary market mortgage lending, trust and wealth, treasury management and CIB-related fee-generating businesses. These efforts are expected to contribute to a mid-to high-single digit percentage increase in non-interest income in 2026 and to contribute additional earnings growth in 2027 and subsequent years.

In 2026, non-interest expenses are expected to grow 8-9% compared to 2025, reflecting the company’s continued investments to support future growth and greater portfolio diversification.

RESG is expected to have elevated repayments in most quarters through 2026 and thus, RESG’s percentage of loans will likely continue to decline in 2026.

Management expects origination volumes in 2026 to be similar to the levels achieved in 2024 and 2025.

For 2026, management expects loan growth in the mid-single digit percentage rate, including strong CIB growth offset by significant RESG loan repayments. For 2027, loan growth is expected to accelerate to 10-11% with headwinds from RESG repayments subsiding while CIB and other lending teams expected to grow significantly.

As a result of the purchases made during the first quarter, the tax-equivalent yield on investment securities is expected to increase in the second quarter of 2026 to 4.6-4.7%.

2026 net charge-off ratio is expected to be roughly in line with 2025.

The effective tax rate is expected to be 23-24% in 2026.

How Have Estimates Been Moving Since Then?In the past month, investors have witnessed a downward trend in fresh estimates.

VGM ScoresCurrently, Bank OZK has a subpar Growth Score of D, though it is lagging a bit on the Momentum Score front with an F. However, the stock was allocated a grade of B on the value side, putting it in the second quintile for value investors.

Overall, the stock has an aggregate VGM Score of C. If you aren't focused on one strategy, this score is the one you should be interested in.

OutlookEstimates have been broadly trending downward for the stock, and the magnitude of these revisions indicates a downward shift. Interestingly, Bank OZK has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.

First Trust Advisors LP increased its stake in MGE Energy Inc. (NASDAQ: MGEE) by 2.3% in the undefined quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 511,382 shares of the utilities provider's stock after purchasing an additional 11,432 shares during the period. First

Last summer, MGE Energy joined the vaunted ranks of the Dividend Kings with its 50th consecutive payout raise. The demographics of MGEE's service territories are still strong, which supports yet another hike in the five-year capital spending plan. The company's S&P credit rating is the best in the nation among investor-owned utilities.