NVR Q4 net income $454.8M, EPS $133.44 (+50% YoY); new orders down 27%

NVR INC

2022-FY EPS reported $491.82 revenue$10,526,434,000

Net income $454.8M ($133.44 diluted EPS) vs $334.6M ($89.09) in Q4 2021; consolidated revenue $2.71B (+22% YoY).
Homebuilding new orders 4,153 units (-27% YoY); cancellation rate 18% (vs 10% in Q4 2021).
Backlog 9,162 units (-28%); settlements 5,749 units (+13%) avg price $464K (+9%).
Homebuilding gross margin 25.3% (vs 24.4%); $25M land deposit impairment (94 bps).
Mortgage banking income before tax $26.4M (-24% YoY); closed loan production $1.52B (+3%).

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

NVR INC reported the fourth quarter ended December 31, 2022 results: revenue $2.71 billion, net income $454.8 million, EPS $133.44 per diluted share.

Period: the fourth quarter ended December 31, 2022
Revenue: $2.71 billion
Net income: $454.8 million
EPS: $133.44 per diluted share
Result: reported results

Exact text from the filing

announced net income for its fourth quarter ended December 31, 2022 of $454.8 million, or $133.44 per diluted share. Net income and diluted earnings per share for the fourth quarter ended December 31, 2022 increased 36% and 50%, respectively, when compared to 2021 fourth quarter net income of $334.6 million, or $89.09 per diluted share. Consolidated revenues for the fourth quarter of 2022 totaled $2.71 billion, which increased 22% from $2.23 billion in the fourth quarter of 2021.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

NVR INC reported the year ended December 31, 2022 results: revenue $10.53 billion, net income $1.73 billion, EPS $491.82 per diluted share.

Period: the year ended December 31, 2022
Revenue: $10.53 billion
Net income: $1.73 billion
EPS: $491.82 per diluted share
Result: reported results

Exact text from the filing

For the year ended December 31, 2022, consolidated revenues were $10.53 billion, an 18% increase from $8.95 billion reported in 2021. Net income for the year ended December 31, 2022 was $1.73 billion, an increase of 40% when compared to net income for the year ended December 31, 2021 of $1.24 billion. Diluted earnings per share for the year ended December 31, 2022 was $491.82, an increase of 53% from $320.48 per diluted share for 2021.

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Source: SEC EDGAR

accession 0000906163-23-000002

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