NVR Q2 Net Income $236.5M (-29%), Revenue $2.33B

NVR, Inc. reported a significant decline in its second-quarter 2026 financial results, with net income falling 29% to $236.5 million, or $83.96 per diluted share. Consolidated revenues decreased to $2.33 billion from $2.60 billion in the prior year. The homebuilding segment saw an 11% revenue decrease and a reduced gross profit margin of 19.2%, impacted by higher lot costs and pricing pressure. Despite these declines, new orders increased 9% to 5,885 units, and the backlog grew 9% in units and 5% in dollar value. Mortgage banking income before tax also decreased by 14% to $25.4 million.