NVR, INC. ANNOUNCES THIRD QUARTER RESULTS
NVR reported Q3 2026 net income of $248.6 million ($89.45 diluted EPS), down 27% and 20% respectively from the prior year, on consolidated revenues of $2.40 billion versus $2.61 billion. Homebuilding gross margin compressed to 18.3% from 21.0%, pressured by higher lot costs, affordability-driven pricing weakness, and $24.8 million of contract land deposit impairments. New orders fell 7% and the cancellation rate rose to 21% from 19%. The lone bright spot was mortgage banking, where pre-tax income rose 7% to $35.0 million, and backlog grew 10% in units to 10,121 homes.
Key figures
- Eps
- 89.45
- Revenue
- $2.40 billion
- Revenue Yoy
- -8%
- Backlog units
- 10121
- Net income q3
- 248600000
- New orders q3
- 4391
- Net income yoy
- -27%
- New orders yoy
- -7%
- Gross margin q3
- 18.3%
- Cancellation rate
- 21%
- Mortgage income yoy
- +7%
- Backlog yoy unit growth
- 10%
- Gross margin prior year
- 21.0%
- Land deposit impairments
- 24800000
- Mortgage banking income q3
- 35000000
AI analysis
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