NVR, Inc. Reports Third Quarter 2026 Results with Declining Net Income and Revenue
NVR, Inc. (NYSE: NVR) reported a significant year-over-year decline in its third quarter 2026 financial results. The homebuilding and mortgage banking company saw net income drop 27% to $248.6 million, while consolidated revenues fell to $2.40 billion from $2.61 billion in the prior year's third quarter. Diluted earnings per share also decreased by 20%. The homebuilding segment faced headwinds including higher lot costs, pricing pressure driven by affordability challenges, and weak consumer sentiment. These factors contributed to a contraction in gross profit margin, which fell to 18.3% from 21.0% in the previous year. Additionally, new orders and settlements both saw a 7% decrease compared to Q3 2025. Despite these challenges, NVR's mortgage banking segment showed resilience, with pre-tax income increasing by 7% to $35.0 million. The company also reported an increase in its backlog of homes sold but not settled, which grew by 10% on a unit basis to 10,121 units.
Tickers: $NVR
Topics: earnings report homebuilding net income quarterly results revenue