NVR Q2 net income down 7%; revenue down 12% to $2.34B

NVR INC

2023-Q2 EPS reported $216.52 revenue$4,516,607,000

Diluted EPS $116.54 vs $123.65 prior year; net income $404M, down 7%.
Consolidated revenue $2.34B, down 12% from $2.66B; homebuilding revenue down 13%.
New orders rose 27% to 5,905 units; avg sales price fell 5% to $447,300.
Homebuilding gross margin 24.3% vs 26.3% prior; settlements down 13% to 5,085 units.
Mortgage banking pretax income up 25% to $36.5M.

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 0.95

NVR INC reported six months ended June 30, 2023 results: revenue $4.52 billion, net income $748.4 million, EPS $216.52.

Period: six months ended June 30, 2023
Revenue: $4.52 billion
Net income: $748.4 million
EPS: $216.52
Result: reported results

Exact text from the filing

For the six months ended June 30, 2023, consolidated revenues were $4.52 billion, a 10% decrease from $5.04 billion reported in 2022. Net income for the six months ended June 30, 2023 was $748.4 million, a decrease of 13% when compared to net income for the six months ended June 30, 2022 of $859.4 million. Diluted earnings per share for the six months ended June 30, 2023 was $216.52, a decrease of 10% from $240.05 per diluted share for 2022.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

NVR INC reported second quarter ended June 30, 2023 results: revenue $2.34 billion, net income $404.0 million, EPS $116.54.

Period: second quarter ended June 30, 2023
Revenue: $2.34 billion
Net income: $404.0 million
EPS: $116.54
Result: reported results

Exact text from the filing

NVR, Inc. (NYSE: NVR) , one of the nation’s largest homebuilding and mortgage banking companies, announced net income for its second quarter ended June 30, 2023 of $404.0 million, or $116.54 per diluted share. Net income and diluted earnings per share for the second quarter ended June 30, 2023 decreased 7% and 6%, respectively, when compared to 2022 second quarter net income of $433.3 million, or $123.65 per diluted share. Consolidated revenues for the second quarter of 2023 totaled $2.34 billion, which decreased 12% from $2.66 billion in the second quarter of 2022.

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Source: SEC EDGAR

accession 0000906163-23-000096

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