NVR Inc. Q3 Net Income Down 27% to $248.6M; Revenue Falls 8%

NVR, Inc. announced its third quarter financial results for the period ended September 30, 2026. The company reported a 27% decrease in net income to $248.6 million and a 20% decrease in diluted earnings per share to $89.45 compared to the prior year's third quarter. Consolidated revenues also saw an 8% decline, reaching $2.40 billion. The homebuilding segment experienced an 8% drop in revenues and a decrease in gross profit margin to 18.3%, attributed to higher lot costs, pricing pressure, and contract land deposit impairments. While new orders and settlements decreased, the backlog of homes sold but not settled increased on both a unit and dollar basis. The mortgage banking segment reported a 10% decrease in closed loan production but saw a 7% increase in income before tax.