Quarterly ResultMay 6, 2026, 03:28 PM
NVR Q1 Revenue Down 21.7% to $1.88B; Net Income Falls 33.7%
AI Summary
NVR reported a significant decline in its first-quarter 2026 financial results, with total consolidated revenues decreasing by 21.7% to $1.88 billion and net income falling by 33.7% to $198.36 million compared to the prior year. Despite the revenue and profit downturn, the company generated strong operating cash flow, which increased by 63.5% to $339.69 million. NVR continued its share repurchase program, buying back 90,180 shares. The effective tax rate also decreased due to higher tax benefits from stock option exercises.
Key Highlights
- Total consolidated revenues decreased 21.7% to $1.88 billion from $2.40 billion year-over-year.
- Net income declined 33.7% to $198.36 million, down from $299.58 million in Q1 2025.
- Diluted earnings per share fell 28.5% to $67.76 from $94.83 in the prior year quarter.
- Net cash provided by operating activities increased 63.5% to $339.69 million.
- NVR repurchased 90,180 shares of common stock for $631.96 million in Q1 2026.
- Homebuilding Mid Atlantic revenues decreased 31.8% to $738.03 million.
- Homebuilding South East revenues decreased 3.7% to $545.92 million.
- Effective tax rate decreased to 21.2% from 25.5% due to higher stock option tax benefits.
Price Impact
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