NVR INC Q2 FY26 Results

Summary

NVR, Inc. reported second quarter 2026 net income of $236.5 million, a 29% decrease compared to the prior year, with diluted earnings per share of $83.96, down 23%. Consolidated revenues for the quarter were $2.33 billion, down 11% year-over-year. For the first six months of 2026, revenues decreased 16% to $4.21 billion and net income fell 31% to $434.8 million. While new orders increased 9% in the second quarter, the company experienced a decrease in average sales price and settlement volume, alongside a decline in homebuilding gross profit margin due to cost pressures and pricing challenges.

Key Highlights

1. 1

   NVR, Inc. reported net income of $236.5 million for its second quarter ended June 30, 2026.

2. 2

   Consolidated revenues for the second quarter of 2026 totaled $2.33 billion, a decrease from $2.60 billion in the second quarter of 2025.

3. 3

   For the six months ended June 30, 2026, consolidated revenues were $4.21 billion, a 16% decrease from the same period in 2025.

4. 4

   Net income for the six months ended June 30, 2026, was $434.8 million, a decrease of 31% compared to the same period in 2025.

5. 5

   New home orders in the second quarter of 2026 increased by 9% to 5,885 units compared to the prior year's second quarter.

6. 6

   The backlog of homes sold but not settled as of June 30, 2026, increased on a unit basis by 9% to 10,998 units and on a dollar basis by 5% to $4.99 billion.

7. 7

   Homebuilding gross profit margin decreased to 19.2% in the second quarter of 2026 from 21.5% in the second quarter of 2025, impacted by higher lot costs and pricing pressure.