NVR Q3 2022 Earnings Report
Key Takeaways
NVR, Inc. reported a strong third quarter with a 16% increase in consolidated revenues, a 24% increase in net income, and a 37% increase in diluted earnings per share compared to the third quarter of 2021. The homebuilding segment saw a 17% increase in revenues and a rise in gross profit margin, while the mortgage banking segment experienced a decrease in income before tax due to lower secondary marketing gains.
Net income increased by 24% to $411.4 million, or $118.51 per diluted share.
Consolidated revenues increased by 16% to $2.78 billion.
Homebuilding revenues increased by 17% to $2.74 billion, with a gross profit margin increase to 23.6%.
New orders decreased by 15% to 4,421 units, while settlements increased by 5% to 5,949 units.
NVR
NVR
NVR Revenue by Segment
NVR Revenue by Geographic Location
Forward Guidance
The document does not contain explicit forward guidance. It includes cautionary language regarding forward-looking statements and the various risks and uncertainties that may impact future results.
Positive Outlook
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Challenges Ahead
- Impact of COVID-19 on the economy and supply chains
- General economic and business conditions
- Interest rate changes
- Access to financing by NVR and its customers
- Competition and availability/cost of land and raw materials
Revenue & Expenses
Visualization of income flow from segment revenue to net income