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Sep 30, 2020
NVR Q3 2020 Earnings Report
NVR's net income and diluted earnings per share increased compared to Q3 2019.
Key Takeaways
NVR, Inc. reported a strong third quarter with a 15% increase in net income and a 16% increase in diluted earnings per share compared to the third quarter of 2019. Consolidated revenues also increased by 4%.
Net income increased by 15% to $256.47 million, compared to Q3 2019.
Diluted earnings per share increased by 16% to $65.11, compared to Q3 2019.
Consolidated revenues increased by 4% to $1,990.01 million, compared to Q3 2019.
Homebuilding new orders increased by 40% to 6,681 units.
NVR
NVR
NVR Revenue by Segment
NVR Revenue by Geographic Location
Revenue by Segment
Mortgage Banking Revenue
CapyFin.comRevenue by Geographic Location
Mid Atlantic Revenue
CapyFin.comNorth East Revenue
CapyFin.comMid East Revenue
CapyFin.comSouth East Revenue
CapyFin.com Forward Guidance
The COVID-19 pandemic has had a significant impact on all facets of NVR's business, creating uncertainty regarding the extent and timing of disruption and the effects of economic relief efforts.
Positive Outlook
- NVR is currently able to operate in all of the markets it serves.
- The company continues to operate in accordance with safety guidelines issued by the Centers for Disease Control and Prevention as well as state and local guidelines.
- New orders were favorably impacted by robust demand attributable to historically low mortgage interest rates
- New orders were favorably impacted by lower resale inventory levels.
- Backlog of homes increased on a unit and dollar basis.
Challenges Ahead
- There is uncertainty regarding the extent and timing of disruption to our business that may result from COVID-19 and related governmental actions.
- There is uncertainty as to the effects of economic relief efforts on the U.S. economy.
- Uncertainty remains regarding unemployment.
- Uncertainty remains regarding consumer confidence.
- Uncertainty remains regarding demand for our homes and the mortgage market, including lending standards and secondary mortgage markets.