---
schema_version: "secwatch.filing_event.v1"
accession: "0000906163-23-000038"
form_type: "8-K"
ticker: "NVR"
cik: "0000906163"
company_name: "NVR INC"
filed_at: "2023-04-25T23:59:59+00:00"
generated_at: "2026-06-16T18:03:39.887374+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# NVR Q1 net income falls 19% to $344.4M; EPS $99.89 vs $116.56; revenue down 8%

## Summary
- Net income $344.4M ($99.89 diluted EPS) vs $426.1M ($116.56) in Q1 2022, down 19% and 14% respectively.
- Consolidated revenue $2.18B, down 8% from $2.38B; homebuilding settlements fell 11% to 4,639 units, average price up 4% to $459,400.
- Homebuilding gross margin contracted to 24.6% from 28.5%; segment income before tax down 22% to $405.8M.
- New orders down 1% to 5,888 units; cancellation rate rose to 14% from 10%; backlog fell 23% in units (10,411) and dollars ($4.79B).
- Mortgage banking income before tax $28.1M, down 43% from $49.1M, driven by lower secondary marketing gains on loan sales.

## SEC filing metadata
- accession: 0000906163-23-000038
- form_type: 8-K
- ticker: NVR
- cik: 0000906163
- company_name: NVR INC
- filed_at: 2023-04-25T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/906163/000090616323000038/0000906163-23-000038-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/906163/000090616323000038/nvr-20230425.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000906163-23-000038
- JSON: https://secwatch.observer/filing/0000906163-23-000038.json
- Plain text: https://secwatch.observer/filing/0000906163-23-000038.txt

## Key facts
- Earnings Releases
  NVR INC reported the first quarter ended March 31, 2023 results: revenue $2.18 billion, net income $344.4 million, EPS $99.89 per diluted share.
  - Period: the first quarter ended March 31, 2023
  - Revenue: $2.18 billion
  - Net income: $344.4 million
  - EPS: $99.89 per diluted share
  - Result: reported results
  source text: NVR, Inc. (NYSE: NVR) , one of the nation’s largest homebuilding and mortgage banking companies, announced net income for its first quarter ended March 31, 2023 of $344.4 million, or $99.89 per diluted share. Net income and diluted earnings per share for the first quarter ended March 31, 2023 decreased 19% and 14%, respectively, when compared to 2022 first quarter net income of $426.1 million, or $116.56 per diluted share. Consolidated revenues for the first quarter of 2023 totaled $2.18 billion, which decreased 8% from $2.38 billion in the first quarter of 2022.
  evidence_url: https://www.sec.gov/Archives/edgar/data/906163/000090616323000038/0000906163-23-000038-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.