Form 10-Q · Quarterly report
NVR, Inc. 10-Q, filed Nov 4, 2026
- Filed
- CIK
- 0000906163
- Accession no.
- 0000906163-26-000104
Summary
NVR, Inc. reported third-quarter 2026 consolidated revenues of $2.40 billion, down 8% from a year earlier, and net income of $248.6 million ($89.45 per diluted share), down 27%, as new-home demand weakened under affordability pressure, rising mortgage rates, higher home inventory in some markets and weak consumer sentiment. The company said its homebuilding gross margin fell to 18.3% from 21.1%, new orders net of cancellations dropped 7% with a 21.0% cancellation rate, and it expects continued margin pressure from higher land prices.
Key points
- NVR's third-quarter 2026 homebuilding revenues fell 8% to $2.35 billion on a 7% drop in units settled and a 2% lower average settlement price.
- New orders net of cancellations decreased 7% to 4,391 units and the average new order price fell 5% to $442.1 thousand, with the cancellation rate rising to 21.0% from 19.4%.
- Contract land deposit impairments of about $24.8 million weighed on gross margin, versus $18.9 million a year earlier.
- As of September 30, 2026, NVR controlled about 185,300 lots, including roughly 176,000 under lot purchase agreements.
Written by an AI model from the filing text. It can be incomplete or wrong; the filing on SEC.gov is the record.
From the filing
Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations (dollars in thousands, except per share data) Forward-Looking Statements Some of the statements in this Quarterly Report on Form 10-Q, as well as statements made by us in periodic press releases or other public communications, constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. …
An excerpt of the text as filed with the SEC, cut for length.
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