NVR Q1 2022 Earnings Report
Key Takeaways
NVR, Inc. reported a strong first quarter with a 71% increase in net income and a 17% increase in consolidated revenues compared to the first quarter of 2021. The homebuilding segment saw significant growth, while the mortgage banking segment experienced a slight decrease in income before tax.
Net income for Q1 2022 was $426.1 million, an increase of 71% compared to Q1 2021.
Diluted earnings per share for Q1 2022 increased by 84% to $116.56.
Consolidated revenues for Q1 2022 totaled $2.38 billion, up 17% from Q1 2021.
Homebuilding revenues increased by 18% to $2.31 billion, with a gross profit margin increase to 28.5%.
NVR
NVR
Forward Guidance
The company provided forward-looking statements regarding market trends, financial position, and business strategy, but did not provide specific financial guidance for future periods.