Lennar (LEN) reported fiscal Q3 adjusted earnings late Wednesday of $1.23 per diluted share, down from $2 a year earlier.

Analysts polled by FactSet expected $1.28.

Revenue for the three months ended Aug. 31 was $8.05 billion, down from $8.81 billion a year earlier.

Analysts expected $8.32 billion.

For fiscal Q4, the company expects new orders of 19,500 to 20,500 and deliveries of 22,000 to 23,000.