NVR Stock Price, News & Analysis

NVR Inc reported mixed Q1 2025 financial results with some concerning trends. Revenue increased 3% to $2.40 billion, but net income declined 24% to $299.6 million, with diluted EPS falling 19% to $94.83.

The homebuilding segment showed signs of pressure with new orders decreasing 12% to 5,345 units and a higher cancellation rate of 16% (vs 13% in Q1 2024). The average sales price of new orders declined 1% to $448,500. Backlog decreased 9% in units and 7% in dollar value to $4.84 billion.

Gross profit margin contracted to 21.9% from 24.5%, impacted by higher lot costs and pricing pressure. The mortgage banking segment performed better, with loan production up 4% to $1.43 billion and income before tax increasing 12% to $32.5 million.

NVR Inc. reported strong financial results for Q4 and full-year 2024. Q4 net income reached $457.4 million ($139.93 per diluted share), a 12% increase from 2023. Consolidated revenues grew 17% to $2.85 billion in Q4 2024.

For full-year 2024, revenues increased 11% to $10.52 billion, with net income rising 6% to $1.68 billion. However, Q4 new orders decreased 8% to 4,794 units, while the cancellation rate increased to 17% from 13% year-over-year. Settlements increased 16% to 6,180 units in Q4.

The mortgage banking segment showed significant growth, with Q4 closed loan production up 13% to $1.70 billion and segment income before tax increasing 55% to $45.9 million. The company's gross profit margin slightly decreased to 23.6% in Q4 2024 from 24.1% in Q4 2023.

NVR Inc (NYSE: NVR) announced a new $750 million share repurchase authorization approved by its Board of Directors. This continuation of the stock repurchase program, which began in 1994, has no expiration date and will be executed through open market and private transactions based on market conditions. The authorization prohibits purchasing shares from company officers, directors, and specific trust funds. As of December 10, 2024, NVR had 3,039,944 total shares outstanding. NVR operates in homebuilding and mortgage banking segments, with homebuilding operations across 36 metropolitan areas in 16 states and Washington, D.C.

NVR, Inc. (NYSE: NVR) reported its third quarter 2024 financial results. Key highlights include:

- Net income of $429.3 million, or $130.50 per diluted share, a 1% decrease in net income but a 4% increase in EPS compared to Q3 2023.
- Consolidated revenues of $2.73 billion, up 6% year-over-year.
- New orders increased by 19% to 5,650 units.
- Settlements increased by 5% to 5,908 units.
- Backlog increased 9% in units and 11% in dollar value.
- Homebuilding revenues rose 7% to $2.68 billion.
- Gross profit margin decreased to 23.4% from 24.3% in Q3 2023.
- Mortgage banking income before tax decreased 9% to $34.9 million.

The company's effective tax rate for Q3 2024 was 20.3%, up from 19.7% in Q3 2023.

NVR, Inc. (NYSE: NVR) reported its Q2 2024 financial results, showing mixed performance. Net income slightly decreased by 1% to $400.9 million, while diluted EPS increased by 4% to $120.69. Consolidated revenues grew 12% to $2.61 billion. For the first half of 2024, net income rose 6% to $795.2 million, with diluted EPS up 9% to $237.05.

In the homebuilding segment, new orders increased 3% to 6,067 units, with an average sales price of $458,800. Settlements grew 11% to 5,659 units. The backlog increased 3% in units and 6% in dollar value. Homebuilding revenues rose 12% to $2.55 billion, though gross profit margin decreased to 23.6%.

The mortgage banking segment saw closed loan production increase 11% to $1.53 billion, with income before tax up 23% to $45.0 million.

NVR, Inc. announced a $750 million share repurchase authorization without expiration date. The repurchase program aims to maximize shareholder value and prohibits purchasing from specific entities. NVR has 3,133,092 shares outstanding as of May 6, 2024.