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Dec 31, 2020
NVR Q4 2020 Earnings Report
NVR reported an increase in revenue and net income for Q4 2020.
Key Takeaways
NVR, Inc. reported a strong fourth quarter with an 18% increase in consolidated revenues and a 19% increase in net income compared to the same quarter in the previous year. The homebuilding segment saw revenue growth and increased new orders, while the mortgage banking segment benefited from higher loan volume and secondary marketing gains.
Consolidated revenues increased by 18% to $2,344,015,000 compared to Q4 2019.
Net income increased by 19% to $305,004,000, or $76.93 per diluted share, compared to Q4 2019.
Homebuilding new orders increased by 25% to 5,485 units.
Mortgage closed loan production increased by 17% to $1,659,219,000.
NVR
NVR
NVR Revenue by Segment
NVR Revenue by Geographic Location
Revenue by Segment
Homebuilding Revenue
CapyFin.comMortgage 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 company did not provide specific forward guidance but noted continued uncertainty regarding the impact of COVID-19 on its business.
Positive Outlook
- Currently able to operate in all markets served.
- Following safety guidelines issued by the Centers for Disease Control and Prevention as well as state and local guidelines.
- Robust demand attributable to historically low mortgage rates.
- Lower resale inventory levels.
- Favorable impact on new orders.
Challenges Ahead
- Uncertainty regarding the extent and timing of disruption to our business that may result from COVID-19 and related governmental actions.
- Uncertainty as to the effects of economic relief efforts on the U.S. economy.
- Unemployment rates may impact consumer confidence.
- Demand for our homes may be impacted.
- Mortgage market lending standards and secondary mortgage markets may be affected.
Revenue & Expenses
Visualization of income flow from segment revenue to net income