NVR Q2 net income down 1% to $400.9M; EPS up 4% to $120.69; revenue up 12% to $2.61B

NVR INC

2024-Q2 EPS reported $237.05 revenue$4,945,920,000

Net income $400.9M from $404.0M YoY; diluted EPS $120.69 from $116.54 on lower share count.
Consolidated revenue $2.61B (+12%); homebuilding settlements +11% to 5,659 units at flat avg price $450,200.
New orders +3% to 6,067 units; avg price +3% to $458,800; cancellation rate 13% vs 11% YoY.
Homebuilding gross margin 23.6% vs 24.3% YoY; backlog units +3% to 11,597, dollar value +6% to $5.45B.
Mortgage banking pretax income $45.0M, up 23% on higher secondary marketing gains.

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