NVR Q1 2020 Earnings Report
Key Takeaways
NVR, Inc. reported a decrease in net income and diluted earnings per share for the first quarter of 2020, with consolidated revenues also decreasing compared to the first quarter of 2019. The company experienced a decrease in homebuilding new orders and settlements, while the backlog remained flat. The mortgage banking segment also saw a decrease in income before tax.
Net income for Q1 2020 was $175.7 million, a 7% decrease compared to Q1 2019.
Diluted earnings per share for Q1 2020 was $44.96, a 6% decrease compared to Q1 2019.
Consolidated revenues for Q1 2020 totaled $1.58 billion, a 6% decrease compared to Q1 2019.
Homebuilding new orders decreased by 2% to 5,015 units, and settlements decreased by 6% to 4,230 units.
NVR
NVR
NVR Revenue by Segment
NVR Revenue by Geographic Location
Forward Guidance
NVR is unable to predict the extent to which COVID-19 will impact its operational and financial performance. There is uncertainty regarding the effects of economic relief efforts on the U.S. economy, unemployment, consumer confidence, demand for our homes and the mortgage market, including lending standards and secondary mortgage markets.
Revenue & Expenses
Visualization of income flow from segment revenue to net income